3 sources·Business

BlackRock Exits Net Zero Initiative Amid Rising Political Pressure

BlackRock has withdrawn from the Net Zero Asset Managers initiative, signaling a significant shift in corporate climate commitments amid political backlash.

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  1. BlackRock drops out of progressive ‘Net Zero’ initiative as pressure grows to ditch ‘woke’ groups

    BlackRock is officially out of the so-called “Net Zero” coalition of top corporations who pledge to reach zero-carbon emissions by 2050 – a significant blow to the corporate push to embrace progressive policies on energy conservation, On The Money has learned.

    BlackRock drops out of progressive ‘Net Zero’ initiative as pressure grows to ditch ‘woke’ groups

    New York PostNew York Post·3M
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    Leans Right
    This outlet slightly leans right.
  2. BlackRock departs climate investment group

    BlackRock’s exit is particularly notable because of its prominence and its leading rhetoric on climate change.

    BlackRock departs climate investment group

    The HillThe Hill·3M
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    This source consistently reports facts with minimal bias, demonstrating high-quality journalism and accuracy.
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    Center
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  3. BlackRock Quits 'Net Zero' Climate Group

    However, our memberships in some of these organizations have caused confusion regarding BlackRock’s practices and subjected us to legal inquiries from various public officials, leading to the departure.

    BlackRock Quits 'Net Zero' Climate Group

    NewsmaxNewsmax·3M
    Mixed Reliable
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    Right
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  1. New York Post
  2. The Hill
  3. Newsmax
Updated: Jan 9th, 2025, 7:21 PM ET

Summary

A summary of the key points of this story verified across multiple sources.

BlackRock, the world’s largest asset manager, has formally exited the Net Zero Asset Managers initiative, citing confusion over its practices and legal inquiries from public officials. This departure aligns with a broader trend of major financial institutions scaling back ESG commitments as conservative politicians criticize these initiatives as inappropriate. Following significant pressure from Republican lawmakers and legal challenges, BlackRock's exit may signal a diminishing corporate dedication to climate-related goals, despite the ongoing emphasis on sustainable investing by other firms. The move raises questions about the future of the net-zero agenda in financial markets.

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