Key Members Leave Climate Alliance
On February 15, 2024, two of the world's largest asset
managers announced that they are leaving Climate Action 100+
(CA100+), an investor engagement group which aims to encourage
companies to scale up their transition plans. JP Morgan Asset
Management (JPMAM) and State Street Global Advisers (SSGA)
announced their departure from CA100+, and BlackRock confirmed that
it was pulling out as a corporate member. Although
BlackRock's international arm will remain a member of the
alliance, the high-profile departures have sparked concerns about
the asset owners' commitments to tackling climate change. In
response, JPMAM stated that it has now developed its own
stewardship capabilities sufficiently, while SSGA and BlackRock
raised concerns about CA100+'s Phase 2 commitment, which
involve a change to the group's aim from pressuring companies
to actively encouraging them to reduce their GHG
emissions. We have previously discussed the
pressure
