Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
News
All NewsCompaniesIndexesCurrency / ForexCommoditiesCryptocurrenciesETFInterest RatesEconomyThemesSectors 

Vanguard quits net zero climate alliance

12/07/2022 | 11:42am EST

Dec 7 (Reuters) - Vanguard is pulling out of the main financial alliance on tackling climate change, the world's second-largest fund manager said on Wednesday.

The alliance, Net Zero Asset Managers (NZAM), was launched in late 2020 to encourage asset managers to reach net zero emission target by 2050 and help keep a rise in global temperature to 1.5 degrees Celsius.

"We have decided to withdraw from NZAM so that we can provide the clarity our investors desire about the role of index funds and about how we think about material risks, including climate-related risks," Vanguard said in a statement on its website.

The asset manager said it wanted to make clear that Vanguard speaks independently on matters of importance to its investors.

Vanguard joined the initiative in 2021. (Reporting by Noor Zainab Hussain in Bengaluru and Ross Kerber in Boston; Editing by Anil D'Silva)


ę Reuters 2022
Latest news "Economy"
05:31pPorn star Ron Jeremy committed to state mental hospital
RE
05:31pUtilities Down on Rotation Into Risky Sectors -- Utilities Roundup
DJ
05:31pCommunications Services Up on Risk Appetite -- Communications Services Roundup
DJ
05:30pDogecoin Gained 1.00% to $0.092 at 5 p.m. ET -- Data Talk
DJ
05:30pTech Up After Powell Comments -- Tech Roundup
DJ
05:30pFinancials Up After KKR, Carlyle, BNP Earnings -- Financials Roundup
DJ
05:29pEthereum Gained 1.78% to $1667.49 at 5 p.m. ET -- Data Talk
DJ
05:29pBitcoin Gained 1.24% to $23200.85 at 5 p.m. ET -- Data Talk
DJ
05:29pMaterials Up as Traders Ignore Fed Warnings -- Materials Roundup
DJ
05:29pConsumer Cos Up on Peak Rate Hopes -- Consumer Roundup
DJ
Latest news "Economy"