In a letter sent to clients and seen by the Financial Times, BlackRock vice chair Philipp Hildebrand argued that the membership in the global net-zero alliance “caused confusion regarding BlackRock’s practices and subjected us to legal inquiries from various public officials”.
Morgan Stanley leaves Net Zero Banking Alliance
BlackRock’s departure is the latest in a series of major financial institutions ending their official climate pledge memberships.
JP Morgan Chase, Morgan Stanley, Citi, Bank of America, Wells Fargo, and Goldman Sachs all previously abandoned the Net Zero Banking…
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