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Vanguard, BlackRock Join Investors Pledging to Hit Net Zero

  • Fund managers are under increasing pressure on climate change
  • Activists and regulators want industry to be more assertive
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Photographer: SeongJoon Cho/Bloomberg

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The world’s largest asset managers have joined a group of investors committing to cut the net greenhouse-gas emissions of their portfolios to zero.

BlackRock Inc. and Vanguard Group Inc. are among 43 investment firms managing more than $22.8 trillion of assets that are joining the Net Zero Asset Managers initiative, according to a statement Monday. By signing up, the money managers are pledging to support efforts to limit global warming to 1.5 degrees Celsius by targeting net-zero emissions by 2050 across all their holdings. They also will set a public goal for the proportion of their assets that in 2030 will be on course for net zero.