- Emotional Nagelsmann lauds returned belief despite Germany's Euros exit
- Jamaica's De Cordova-Reid joins Leicester from Fulham
- Wolves' Kilman reunites with Lopetegui at West Ham
- Schmidt reign off to winning start as Australia beat Wales 25-16
- Russian wrestlers reject Olympics invitation
- Raducanu rediscovers Wimbledon 'fun' factor after turbulent spell
- Winning all that matters at Euro 2024 for Mbappe's minimalist France
- Eight dead, two million affected by Bangladesh floods
- Robertson pleased to 'find a way' past England in tough Test baptism
- Martin sets lap record to secure German MotoGP pole
- 'Shattered' Germany set sights on World Cup after Euros exit
- Olympic hope Pedersen pulls out of Tour de France
- Djokovic eyes sweet 16 at Wimbledon as Swiatek takes on 'gangster'
- End beckons again for Ronaldo after Portugal Euros KO
- New Zealand edge England 16-15 in tense, brutal first Test
- Turkey take on Dutch in politically charged Euros quarter-final, England face Swiss
- Calling for better ties with West, Iran reformist wins presidency
- Cybercrime groups restructuring after major takedowns: experts
- Activists hail Sierra Leone child marriage ban, urge action on FGM
- Marsch relishing Canada's semi clash with Argentina
- Canada stun Venezuela on penalties to reach Copa semis
- Iran reformist Pezeshkian holds early lead in runoff vote
- Swiatek faces 'gangster' threat, Djokovic feels need for Wimbledon speed
- France holds its breath ahead of uncertain vote
- Starmer begins UK 'rebuild' after landslide election win
- Paris's Moulin Rouge inaugurates new windmill sails ahead of Olympics
- Pan, Rai share halfway lead in PGA John Deere Classic
- 'I was feeling terrible' in debate, Biden says in TV interview
- France coach Deschamps savours ending penalty hoodoo, defends Mbappe
- Thompson bids farewell to Warriors after exit
- Portugal exit Euros with pride, will return stronger: Martinez
- UK's new PM Starmer speaks to world leaders, names top team
- Spain and France to face off in Euros last four, Turkey lament 'unfair' Demiral ban
- Israel says negotiators to hold fresh Gaza truce talks next week
- France beat Portugal on penalties to reach Euro 2024 semi-finals
- Endrick to start for Brazil in Uruguay Copa clash: Dorival
- Heartbreak for Germany fans after dramatic Euros exit
- Beryl heads for Texas after causing damage, no deaths in Mexico
- Nagelsmann laments late penalty decision as hosts Germany exit Euros
- Biden declares he's all in ahead of high-risk TV interview
- Spain team 'is a winning horse', says De la Fuente
- Bows at the ready, Chad villagers battle kidnappings
- Alcaraz mimics Bellingham goal celebration after Wimbledon win
- Olmo hopes Pedri can make speedy return for Euros semi-finalists Spain
- Retiring Kroos hopeful despite Germany's 'bitter' Euros exit
- Southgate turns on English 'entitlement' over claims of easy Euros draw
- Merino extra-time goal sends Spain past Germany to Euro semis
- Koeman demands Dutch silence fervent Turkish fans at Euros
- Brad Pitt at Silverstone for filming of F1 movie
- Raducanu storms into Wimbledon last 16
Big firms with $7 tn exit climate investment pressure group
A pair of large investment companies with nearly $7 trillion in assets, said Thursday they exited a climate change investor initiative that aims to pressure companies to quickly cut carbon emissions.
JPMorgan Asset Management, which manages $3.1 trillion in assets, has not renewed its membership in Climate Action 100+, saying through a spokesperson that it will oversee its stewardship on climate change with companies with its bank staff.
A second large asset manager, State Street Global Advisors, with $3.7 trillion, also dropped out, saying Climate Action's approach "will not be consistent with our independent approach to proxy voting and portfolio company engagement," according to a statement.
BlackRock, the world's biggest asset manager, is also scaling back its work with the group, a spokesperson confirmed.
Launched in 2017, Climate Action 100+ aims to work with companies to halve their greenhouse gas emissions by 2030, through governance reforms, the elimination of emission through the value chain and enhanced disclosure. Its website boasts $68 trillion in assets under management.
The moves come as Republican officials in Washington and some state governments criticize financial companies for prioritizing climate change, in some cases blocking the firms from state contracts.
Texas Attorney General Ken Paxton applauded the news, saying financial companies had undertaken an "unlawful" campaign to force environmental, social and corporate governance on customers.
"I'm pleased JPMorgan has exited the Climate Action 100+," Paxton said on X, the former Twitter. "This is a critical step toward putting customers' financial well-being first."
JPMorgan said in light of its 40 "dedicated sustainable investing professionals" and other staff, the asset manager "has determined that it will no longer participate in Climate Action 100+ engagements," according to a company statement.
"We believe that climate change continues to present material economic risks and opportunities to our clients, and our analysts will continue to factor this into engagement with companies around the world."
E.Ramalho--PC