Ahead of Trump's inauguration as president, who is negative about green energy, BlackRock, the world's largest asset manager, has decided to withdraw from Net Zero, or the Carbon Neutral Asset Management Initiative (NZAMI).
Reuters said BlackRock had joined NZAMI in light of the fact that two-thirds of its global clients were in favour of a carbon neutrality target, but said it had caused confusion in its practice.
NZAMI is a group of asset managers who support the goal of achieving zero net greenhouse gas emissions by 2050 by exercising influence such as voting rights at corporate shareholders' meetings.
There are 325 NZAMI member companies, and their total assets are $57.5 trillion (KRW 4,000 trillion in our money).
BlackRock's exit from NZAMI reflects the ongoing flow of climate response-related organizations on Wall Street ahead of the inauguration of oil development-friendly President-elect Donald Trump, Reuters said.
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