Read previewSome Wall Street giants, many of which have spent the last few years pledging to fight climate change through corporate responsibility, are now retreating from some of their environmental initiatives.
Founded in 2017, Climate Action 100+ initially launched as a five-year initiative that in 2022 was extended until 2030.
AdvertisementFollowing the departures of JPMorgan, State Street, and Pimco, financial investors including Neuberger Berman, William Blair Investment Management, and Wellington Management remain members of Climate Action 100+, whose targeted companies include American Airlines, Chevron, and Procter & Gamble.
Other finance giants have similarly stepped back from previous environmentally friendly initiatives, The New York Times reported.
They include BlackRock, which scaled back its participation with Climate Action 100+ in recent weeks, as well as Bank of America, which walked back a pledge to stop financing coal.
Persons:
—, Neuberger Berman, William Blair
Organizations:
Service, JPMorgan, State Street, Business, New York Times, Politico, State, William Blair Investment Management, Wellington Management, Climate, American Airlines, Chevron, Procter, Gamble, The New York Times, BlackRock, Bank of America