Until recently, many banks, asset managers, and insurers portrayed these goals as complementary, asserting that climate risk is financial risk and that the competence of management can be assessed by its commitment to social justice goals.Today, however, those narratives are rarely heard.BlackRock, JPMorgan Chase, and State Street recently exited from Climate Action 100+, a coalition of the world’s largest fund managers that pledges to “ensure the world’s largest corporate greenhouse gas emitters take necessary action on climate change.”On the heels of that exit, 16 conservative state attorneys general have demanded answers from BlackRock’s […]
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