Asset Management

Vanguard quits $66tn net-zero coalition

Index funds giant exits Net Zero Asset Managers initiative as anti-ESG backlash ramps up

Asset manager cites 'confusion about the views of individual investment firms' as part of its reason for leaving the alliance
Asset manager cites 'confusion about the views of individual investment firms' as part of its reason for leaving the alliance Photo: Rafael Henrique/Getty Images

Vanguard has left a $66tn global alliance trying to combat climate change, raising questions over whether other fund groups will follow suit amid increased scrutiny on such initiatives.

The $8.1tn passives giant said on 7 December that it was quitting the Net Zero Asset Managers initiative in a bid to provide “clarity” to investors and to assert its independence.

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