Four US financial giants take a step back on climate issues in the face of political pressure. JPMorgan, Pimco, BlackRock and State Street leave Climate Action 100+ group amid harassment from Republicans.
“They are giving in to the climate deniers,” says a Democratic official. The withdrawal of the financial giants does not imply that the companies deny the fight against climate change, but it does mean that they distance themselves from the guidelines set by the group in their actions. The firms indicate that with their withdrawal they intend to maintain their autonomy and decision-making independence.