BlackRock departs climate investment group

BlackRock, the world’s largest asset manager, has withdrawn from the Net Zero Asset Managers initiative, a coalition comprised of over 325 signatories, managing more than $57.5 trillion, all committed to achieving net-zero greenhouse gas emissions by 2050. The decision to leave the NZAM came after the company faced legal inquiries and allegations of antitrust violations in pursuing net zero goals for coal companies, along with other financial institutions.
Despite the withdrawal, BlackRock remains committed to sustainable investing, having over $11 trillion in assets under management and investing roughly $138 billion in energy transition strategies for clients.