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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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Regulatory concerns • 25%
Financial considerations • 25%
Strategic realignment • 25%
Other • 25%
BlackRock • 25%
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Other • 25%
Citigroup • 25%
Other • 25%
Bank of America • 25%
JPMorgan Chase • 25%
JPMorgan Chase • 25%
Other • 25%
Bank of America • 25%
Citigroup • 25%
No significant change • 25%
Alliance dissolved • 25%
Increase in membership • 25%
Decrease in membership • 25%
Legal concerns • 25%
Political pressure • 25%
Financial considerations • 25%
Other • 25%
Security concerns • 25%
Political disagreements • 25%
Lack of international support • 25%
Other reasons • 25%