Investment firm Vanguard Inc. has announced that it’s pulling out from a major climate initiative as the company faces increasing pressure for its policy of using environmental, social, and governance (ESG) factors while investing in securities.
In 2021, Vanguard joined the Net Zero Asset Managers initiative (NZAM), which aims to push the asset management industry toward a goal of reaching net-zero emission targets by 2050. As of November, NZAM had 291 signatories representing about $66 trillion worth of assets under management.
