The group is an investor-led initiative which challenges global companies to reduce their overall carbon footprint, with 170 firms currently selected for engagement.
JPMAM joined in 2020, as did BlackRock and State Street Global Advisors.
TSMC and Infosys most frequent top ten holdings across JP Morgan AM trust stable
The latter two are still listed on Climate Action’s website, along with other asset management firms, including abrdn, Brown Advisory and Goldman Sachs Asset Management
A spokesperson for JPMAM told Investment Week it was not renewing its membership “in recognition of the significant investment it has made in its investment stewardship team and engagement capabilities, as well as the development of its own climate risk engagement framework over the past couple of years”.
They added: “The firm has built a team of 40 dedicated sustainable investing professionals, including investment stewardship specialists who also leverage one of the largest buy side research teams in the industry.
“Given these strengths and the evolution of its own stewardship capabilities, JPMAM has determined that it will no longer participate in Climate Action 100+ engagements.”
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