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Primary reason for asset manager exit from UN Net Zero Initiative in 2025?
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Resolution / Starting Odds
Legal Inquiries • 25%
Political Pressure • 25%
Financial Performance • 25%
Other • 25%
Official statements from the asset manager
Story
BlackRock Exits UN-Sponsored Net Zero Asset Managers Initiative on January 9, 2025, Citing Legal Inquiries
Jan 9, 2025, 07:49 PM
BlackRock, the world's largest asset manager, has officially exited the UN-sponsored Net Zero Asset Managers Initiative, marking a notable setback for the ESG investing movement. The firm notified its clients of this decision on January 9, 2025. This departure follows increasing scrutiny from Republican politicians regarding BlackRock's climate initiatives. The exit is described as the most significant departure yet from the coalition, which focuses on climate finance for investors. BlackRock cited ongoing legal inquiries as a reason for its exit from the group, which has seen a broader trend of Wall Street firms reassessing their commitments to environmental goals.
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Fidelity • 25%
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Vanguard • 25%
Fidelity • 25%
State Street • 25%
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Broadening scope beyond mandate • 25%
Financial constraints • 25%
Sovereignty issues • 25%
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Ineffectiveness of the accord • 25%
Economic concerns • 25%
JPMorgan Chase • 25%
Bank of America • 25%
Citigroup • 25%
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Bank of America • 25%
Citigroup • 25%
JPMorgan Chase • 25%
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No significant change • 25%
Decrease in membership • 25%
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Alliance dissolved • 25%
Bitcoin ETF and property in Bahamas • 25%
All mentioned assets • 25%
Bitcoin ETF only • 25%
Bitcoin ETF and bets against China's currency • 25%
Internal Disagreements • 25%
Scope Beyond Mandate • 25%
Other • 25%
Political Pressure • 25%