Conservatives notch another win after BlackRock kills ‘Net Zero’ membership, climate commitment [Video]

BlackRock, the world’s largest asset manager, recently withdrew from its membership with Net Zero Asset Managers initiative (NZAM), a coalition committed to achieving net-zero greenhouse gas emissions by 2050.

The firm last week wrote in a letter to clients that the membership had “caused confusion regarding BlackRock’s practices and subjected us to legal inquiries from various public officials,” according to reports. 

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BlackRock also reportedly said its “active” investment portfolio managers will “continue to assess material climate-related risks.”

NZAM subsequently paused all activities and noted that it launched “a review of the initiative to ensure NZAM remains fit for purpose in the new global context.”

“NZAM will also remove the commitment statement and list of NZAM signatories from its website, as well as their targets and related case studies, pending the outcome of the review,” the company said in a news release. 

Will …