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BlackRock Exits Net Zero Asset Managers Initiative Amid Rising Antitrust Concerns

share-iconFriday, January 10 comment-icon1 week ago 10 views
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reutersREUTERS
BlackRock Exits Net Zero Asset Managers Initiative Amid Rising Antitrust Concerns

Credited from: REUTERS

  • BlackRock, the largest asset manager globally, announced its exit from the Net Zero Asset Managers initiative.
  • The decision follows antitrust concerns raised by Republican politicians, impacting perceptions of the firm's practices.
  • BlackRock manages approximately $11.5 trillion and previously committed to emission reduction goals through such organizations.
  • Membership in this group led to legal inquiries from officials, prompting the firm's withdrawal despite ongoing client commitments to net zero emissions.
  • With over 325 signatories managing $57.5 trillion, NZAMI aimed for net zero emissions by 2050; however, recent political shifts complicate its mission.

For the full article, visit Reuters.

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