Last week, Vanguard, the world's second-largest fund manager, pulled out of the Net Zero Asset Managers initiative (NZAM) under the guise of providing "clarity" to investors and showing that the firm "speaks independently". Vanguard announced their membership to the group in March 2021, which comprises part of the Glasgow Financial Alliance for Net Zero (GFANZ) led by Mark Carney and is comprised of 291 signatories representing over $66trn in AUM. Yet with continuing Republican backlash of ‘woke' investing, and increasing fears around regulatory fines and litigation regarding fiduci...
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15 February 2024
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1 min read
