From Reuters, February 15:
JPMorgan Chase's and State Street's investment arms on Thursday both quit a global investor coalition pushing companies to rein in climate-damaging emissions, while BlackRock said it has transferred its membership to its international arm, limiting its involvement.
The decisions together remove nearly $14 trillion of total assets from efforts to coordinate Wall Street action on tackling climate change and came after the coalition, known as Climate Action 100+, or CA100+, asked signatories to take stronger action over laggards.Financial firms have faced growing pressure from Republican politicians over their membership of such groups, amid accusations that committing to shared action could be a breach of antitrust law or fiduciary duty.None of the firms cited politics among their motivations. A spokesperson for State Street Global Advisors (SSGA), which manages $4.1 trillion, said the new priorities set by CA100+ threatened its ability to act independently....
....MUCH MORE
"Companies test out different ways to talk about ESG without saying 'ESG'"
We came to the same conclusion in the one-line intro to January 23's:
DEI and ESG Live On, We Just Won't Talk About Them (BLK)
That's one lesson from BlackRock's purchase of Global Infrastructure Partners.I have to stop doing these throwaway comments and start fluffing things up into 200 page books.
Or not.
Our readers are busy and have to wade through enough crap with my tangential rambles without being faced with additional padding. So, no change....
