The world’s second-largest asset manager Vanguard announced Wednesday that it was leaving the Net-Zero Asset Managers initiative (NZAM), a collective of financial institutions that support investments aimed at reducing global carbon emissions. Vanguard’s move came after several Republican attorneys general called on the Federal Energy Regulatory Commission (FERC) to prevent the company from purchasing publicly traded utilities due to the firm’s previous climate commitments.
Read MoreHuge Investment Firm Leaves Climate Alliance After Republican Officials Call for Government Inquiry
