- Flash flooding kills three in northern Thailand
- Kaur leads India to victory over Pakistan in Women's T20 World Cup
- Juventus held by Cagliari after late penalty drama
- In France's Marseille, teen 'stabbed 50 times' then burned alive
- Ruthless Gauff beats Muchova in straight sets to win China Open
- India restrict Pakistan to 105-8 in Women's T20 World Cup
- England target repeat of Pakistan Test whitewash
- Penrith Panthers win fourth straight NRL title after downing Storm
- Weary Sinner happy for day off after battling into Shanghai last 16
- Pakistan's Masood warns England still a force without Stokes
- Madrid's Carvajal to miss several months after serious knee injury
- Israel pounds Lebanon ahead of Hamas attack anniversary
- Two elephants die in flash flooding in northern Thailand
- Sabalenka targets world number one and Wuhan hat-trick
- Toddler among 4 dead in migrant Channel crossings
- Tunisia votes with Saied set for re-election
- Bagnaia sets 'example' with Japan MotoGP win to cut gap on Martin
- Intense Israeli bombing rocks Beirut ahead of war anniversary
- Mozambique vote: no suspense but some disillusion
- Austrian rapper channels anti-racist rage in Romani hip-hop songs
- Ohtani magic powers Dodgers over Padres in MLB playoff thriller
- Five of the best: Pakistan-England Test thrillers
- Man sets arm on fire as marches across US mark Gaza war anniversary
- Vietnam's young coffee entrepreneurs brew up a revolution
- Trump rallies at site of failed assassination: 'Never quit'
- Too hot by day, Dubai's floodlit beaches are packed at night
- Is music finally reckoning with #MeToo?
- Fans hail Trump's 'guts' as he returns to site of rally shooting
- Lebanon state media says 'very violent' Israeli strikes hit south Beirut
- Guardians maul Tigers, miracle Mets rally in MLB series openers
- Lebanon state media says Israeli strikes hit south Beirut
- Miami on track for MLS record points after win in Toronto
- Madrid beat Villarreal but Carvajal suffers knee injury
- Madrid beat Villarreal to move level with Liga leaders Barcelona
- Monaco take top spot in Ligue 1 with win at Rennes
- French rugby player on rape charge whistled but 'serene' on return
- Madrid beat Villarreal to level Liga leaders Barca
- Thuram treble fires Inter past Torino and up to second
- 'Fight': defiant Trump jets in to site of rally shooting
- Toddler among 3 dead in migrant Channel crossings
- Mexico City's new mayor sworn in with pledges on water, housing
- Israel on alert ahead of Hamas attack anniversary
- Guardians maul Tigers in MLB playoff series opener
- Macron criticises Israel on Gaza, Lebanon operations
- French rugby player whistled but 'serene' on return amid ongoing rape case
- Kovacic stars as Man City sink Fulham to get title bid back on track
- Retegui hat-trick fires five-star Atalanta to hammering of Genoa
- Heavyweights Australia, England off to World Cup winning starts
- Visiting UN refugee agency chief decries 'terrible crisis' in Lebanon
- Spinners come to party as England defeat Bangladesh at T20 World Cup
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."
M.Thompson--AMWN