JPMorgan Asset Management Quits $68 Trillion Climate Group (2)

JPMorgan Asset Management has left a $68 trillion investor coalition that’s focused on pressing the world’s biggest emitters of greenhouse gases to decarbonize.

A spokeswoman for the money manager, which oversees $3.1 trillion of assets, said the firm won’t renew its membership in Climate Action 100+ because it has made significant investments in developing its own climate risk engagement framework. The asset management unit of the largest US bank said it now has a team of 40 dedicated sustainable investing professionals.

CA100+ was set up in 2017 and counts Amundi SA, BlackRock Inc. and Legal & General Investment Management ...