Asset management giant BlackRock has become the latest firm to terminate its membership of the Net Zero Asset Managers (NZAM) initiative.
In a letter sent to clients and seen by the Financial Times, BlackRock vice chair Philipp Hildebrand argued that the membership in the global net-zero alliance "caused confusion regarding BlackRock's practices and subjected us to legal inquiries from various public officials". Morgan Stanley leaves Net Zero Banking Alliance A BlackRock spokesperson confirmed its departure from the NZAM initiative to Investment Week. BlackRock's departure is the latest in a series of major financial institutions ending their official climate pledge memberships. JP Morgan Chase, Morgan Stanley, Ci...
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