ESG & Investing
JPMorgan, State Street Leave Biggest Climate-Investor Group
- BlackRock downgrades relationship with Climate Action 100+
- CA100+ faces increasing political pressure from US Republicans
Floating houses in a drought-hit harbor of Cacau Pirêra in Iranduba, Brazil in October.
Photographer: Bruno Zanardo/Getty ImagesThis article is for subscribers only.
The world’s largest investor group formed to fight climate change suffered a blow when two of the industry’s biggest money managers left the coalition.
JPMorgan Asset Management and State Street Global Advisors said Thursday they’re withdrawing from Climate Action 100+. The investor group, which boasts more than 700 investor signatories, was created to pressure oil giants such as Exxon Mobil Corp. and BP Plc to decarbonize their operations.