JPMorgan Asset Management Quits $68 Trillion Climate Group
- Climate Action 100+ faces increasing political pressure in US
- Jim Jordan has gone as far as calling CA100+ an ‘ESG cartel’
JPMorgan Asset Management has left a $68 trillion investor coalition that’s focused on pressing the world’s biggest emitters of greenhouse gases to decarbonize.
A spokeswoman for the money manager, which oversees $3.1 trillion of assets, said the firm won’t renew its membership in Climate Action 100+ because it has made significant investments in developing its own climate risk engagement framework. The asset management unit of the largest US bank said it now has a team of 40 dedicated sustainable investing professionals.