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JPMorgan Chase\u2019s asset management arm and State Street Global Advisors withdrew from a climate pact.<\/p>\n
The pact, called Climate Action 100+<\/a>, is an \u201cinvestor-led initiative to ensure the world\u2019s largest corporate greenhouse gas emitters take necessary action on climate change.\u201d<\/p>\n \u201cOver 700 investors, responsible for $68 trillion in assets under management, are engaging companies on improving climate change governance, cutting emissions and strengthening climate-related financial disclosures, in order to create long-term shareholder value,\u201d a description of the pact reads.<\/p>\n \u201cCA100+ will seek to ensure equality, diversity and inclusion are reflected in the composition of the Steering Committee,\u201d it adds. \u201cWhere practical, investor representatives will be invited to join taking into consideration their level of engagement in the initiative and endeavouring to maintain a Steering Committee that encompasses a sufficient mix of relevant skills, competence, and diversity of perspectives; including but not limited to geographical diversity of signatory representation and diversity of geographical origin, types of investment institution, ethnicity, language, culture, and gender.\u201d<\/p>\n Representative Jim Jordan (R-OH) wrote on X that the asset managers\u2019 decision to withdraw from the pact was a \u201cbig win.\u201d<\/p>\n Today\u2019s decisions by JPMorgan and State Street are big wins for freedom and the American economy, and we hope more financial institutions follow suit in abandoning collusive ESG actions. https:\/\/t.co\/PT3LlDjMSa<\/a><\/p>\n \u2014 Rep. Jim Jordan (@Jim_Jordan) February 15, 2024<\/a><\/p><\/blockquote>\n\n