The environmental, social, and corporate governance (ESG) movement has just suffered a major setback, with the withdrawal on Feb. 15 of three of Wall Street’s largest firms from one of the most prominent climate activism clubs.
BlackRock, the world’s largest asset manager, JPMorgan Chase, America’s largest bank, and State Street, the world’s third-largest asset manager, announced their withdrawal from Climate Action 100+, an investment club that pledges “to ensure the world’s largest corporate greenhouse gas emitters take necessary action on climate change.”
