hmmmm...unwoke or something else?
Okay, hell is freezing over as we speak! No doubt some ulterior motive at play. They wouldn’t do this unless there is a YUGE payday somewhere down the line.
They found out there are 17 Climates and not just 1 ,LOL
Stunning? No. Survival? Yes.
Means "They have FAILED in their fiduciary responsibility to maximize shareholder return, and instead have lost $BILLIONS of investor dollars by virtue signaling!"
BlackRock and State Street, which both manage trillions of dollars in assets, said the alliance's climate initiatives had gone too far, expressing concern about potential legal issues as well.
Well, yes, there are legal issues with allowing funds in their keeping to be directed by political activists who have no responsibility to the actual investors. There have been all along. Due to the nature of their game the root investors have been slow to catch on - who knows what his or her pension fund is actually in from day to day? But DEI in particular is actively opposed to the interests of many of those investors in other ways such as hiring that have a direct effect that is difficult to ignore or paper over. Yes, your pension fund is being used to deny your own promotions on the basis of race and sex, and there isn't a damn thing you can do about it. Oh, and the people doing it aren't even risking their own money. Sweet deal, but not for you.
WOW just WOW, we ALL could have consulted them BEFORE they ever started this SCAM on America!!!
“stewardship”
There is a truly pukeworthy word.
Only sociopaths use it.
The greenies were not happy with them because of their association with bitcoin.
“....said the alliance’s climate initiatives had gone too far...”
Oh, and they, Dimon and Fink, just now (finally) came to that conclusion? Must have hit them too severely in the olde pocketbook. But it’s ok that the net zero climate change nonsense has hit and still is hitting the common working man/woman in ‘their’ wallets.
Also, apparently that “net zero” agenda might involve too much accounting, reporting and compliance (work) for these big guys. Welcome to the party, pals!
“And State Street said its exit from the alliance was made because Climate Action 100+’s “phase 2” commitments conflicted with the firm’s internal investing policies.”
Phase 2:
https://www.climateaction100.org/news/climate-action-100-announces-its-second-phase/
World Enslavement Forum founder Klaus Schwab rebranded his Great Reset system as a “humanocracy” rather than a “technocracy”, Oh no rebranding means they in trouble ,LOL
Too late, I already divested from all Black Rock and Vanguard funds over ESG.
wary inkterestink
Here is how this goes…
The wokies now say these institutions are racist and irresponsible and need to be taken over by the government.
humm. guess they watched and noted who they were supporting in the Steyn climate trial of the century, too.
JPMorgan Chase and BlackRock found out that only the committee leaders get the big returns in the cash flow?.
Not surprised about JP Morgan. Jamie Dimon seems to be getting less and less tolerant of nonsense like this.
https://news.bloomberglaw.com/antitrust/jpmorgan-asset-management-quits-68-trillion-climate-group-1
Climate Action 100+ faces increasing political pressure in US
Jim Jordan has gone as far as calling CA100+ an ‘ESG cartel’