The decisions last week by JPMorgan Chase, State Street, and BlackRock to withdraw from or sharply limit their participation in the United Nations Climate Action 100+ coalition signal a broad shift in the asset management space against strict adherence to the environmental, social, and governance (ESG) doctrine that has helped set policy for years, business experts have told The Epoch Times.
JPMorgan and State Street will no longer support the coalition at all, while BlackRock will pare down its involvement significantly by making participation a prerogative of its foreign-based investment management division.
