Vanguard Group Inc is pulling out of a major investment-industry initiative on tackling climate change, the world’s biggest mutual fund manager said, explaining it wants to demonstrate independence and clarify its views for investors, reports Aljazeera.
Top investors including Pennsylvania-based Vanguard, face mounting pressure from Republican U.S. politicians over their use of environmental, social and governance (ESG) factors in picking and managing securities.
NZ...https://mfame.guru/worlds-biggest-mutual-fund-manager-quits-net-zero-effort/