Investors worth US$14tn leave CA100+ climate group
The move comes just a few days after CA100+ released a net zero standard for oil and gas companies, signalling its intention to start pressuring the sector to decarbonise.
JP Morgan and State Street have left the Climate Action 100+ coalition and BlackRock has downgraded its affiliation with the group, effectively removing US$14 trillion worth of influence from the investor-led climate initiative.
The move comes just a few days after CA100+ released a net zero standard for oil and gas companies, signalling its intention to start pressuring the sector to decarbonise. (The banking arm of JP Morgan is the world’s top fossil fuel financier, having funnelled more than US$430 billion into the sector between 2016 and 2022.)
