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Exclusive: Investor climate group suspends activities after BlackRock exit

Exclusive: Investor climate group suspends activities after BlackRock exit


Published on 2025-01-13 20:40:48 - Reuters
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  • A flagship coalition aimed at aligning the asset management industry with global climate goals said it was suspending its activities on Monday, days after BlackRock , the world's biggest investor, left amid a political backlash in the United States.

The Institutional Investors Group on Climate Change (IIGCC) has suspended its activities following the withdrawal of BlackRock, the world's largest asset manager, from the group. This decision was influenced by BlackRock's need to manage its own climate strategy independently, amidst increasing political scrutiny over its environmental, social, and governance (ESG) commitments. The IIGCC, which facilitates investor collaboration on climate change, has been pivotal in pushing for net-zero emissions targets. However, the exit of BlackRock, coupled with similar moves by other major investors like Vanguard, has led to a significant reduction in the group's operational capacity. This situation reflects broader tensions within the investment community regarding the balance between ESG considerations and financial returns, especially in light of regulatory and political pressures in key markets like the U.S.

Read the Full Reuters Article at:
[ https://www.reuters.com/sustainability/sustainable-finance-reporting/investor-climate-group-suspends-activities-after-blackrock-exit-2025-01-13/ ]
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