A major climate-finance alliance for asset managers is softening its requirements more than six months after BlackRock Inc.
The Net Zero Asset Managers initiative will no longer ask members to commit to aligning their portfolios with the goal of net zero emissions by 2050, according to a statement on Wednesday.
The change, which follows a half-year review during which NZAM gathered feedback from stakeholders, reflects “jurisdictional realities and accommodates signatories from a wider range of markets,” the alliance said.
NZAM suspended its operations in January, announcing at the time it would conduct a review to ensure ...