Net Zero Asset Managers says that its initiative has attracted some 325 signatories managing $57.5 trillion globally, according to its website.
The Republican-led House Judiciary Committee took aim at a group of US asset managers over their involvement with a “woke ESG cartel” — adding pressure against environmental efforts by large investors.
The committee, chaired by Ohio Rep. Jim Jordan, sent letters to 60 firms — including BlackRock, State Street and JPMorgan Asset Management — that are members of the Net Zero Asset Managers initiative, or NZAM, an international group of investors that signed on to a pledge to achieve net zero emissions by 2050.
The letters, sent Friday, made claims in line with a committee report released on Dec. 13 that Republicans say showed fund firms That report found that top asset managers in the US were concerned that signing up for an industry climate initiative would make them look like they worked too closely together and attract regulatory scrutiny.
The committee’s Democrats have dismissed such claims, and big fund firms have denied similar charges. Jordan alleges in the letter that that companies’ efforts with NZAM and the affiliated Glasgow Financial Alliance for Net Zero “may violate U.S. antitrust law,” citing the earlier report.‘Hawk Tuah’ girl Haliey Welch speaks out over failed meme coin amid backlashNet Zero Asset Managers initiative, or NZAM, is an international group of investors that signed on to a pledge to achieve net zero emissions by 2050.
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