TRACEY DAVIES: They’re not even pretending any more
By withdrawing from their climate alliances, the world’s financiers are abandoning even the appearance of taking action to reduce global emissions
In the run-up to US President Donald Trump’s inauguration, a slew of US and Canadian banks and asset managers withdrew from climate action-related alliances, accelerating the pace at which North American financial institutions have cut and run from their climate commitments in light of what is euphemistically referred to as “developments in the US”.
BlackRock, the world’s largest asset manager, withdrew from the Net Zero Asset Managers Initiative (NZAM) in early January. BlackRock is the most prominent of the US financial institutions that have found themselves in the firing line of Republican-led states waging a war on what they call “woke capitalism”...
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