JPMorgan Chase, BlackRock drop out of
massive UN climate alliance in stunning move
Fox Business News,
by
Thomas Catenacci
Original Article
Posted By: Dreadnought,
2/15/2024 5:02:52 PM
JPMorgan Chase and institutional investors BlackRock and State Street Global Advisors (SSGA) on Thursday announced that they are quitting or, in the case of BlackRock, substantially scaling back involvement in a massive United Nations climate alliance formed to combat global warming through corporate sustainability agreements.
In a statement, the New York-based JPMorgan Chase explained that it would exit the so-called Climate Action 100+ investor group because of the expansion of its in-house sustainability team and the establishment of its climate risk framework in recent years. BlackRock and State Street, which both manage trillions of dollars in assets, said the alliance's climate initiatives had gone too far,
Post Reply
Reminder: “WE ARE A SALON AND NOT A SALOON”
Your thoughts, comments, and ideas are always welcome here. But we ask you to please be mindful and respectful. Threatening or crude language doesn't persuade anybody and makes the conversation less enjoyable for fellow L.Dotters.
Reply 1 - Posted by:
DVC 2/15/2024 5:25:53 PM (No. 1658583)
Too many investors like me calling my brokers/advisors and saying "Get my money 100% out of BlackRock and any of this crazy climate activist stuff, NOW!"
80 people like this.
Reply 2 - Posted by:
Scribelus 2/15/2024 5:56:44 PM (No. 1658609)
Ooowee! That pesky old reality will bite you when you least expect it.
40 people like this.
Reply 3 - Posted by:
Ida Lou Pino 2/15/2024 5:57:30 PM (No. 1658611)
See - - the communists are right - - capitalism is going to cause all of us to DIE!
I'm gasping for air already!
23 people like this.
Reply 4 - Posted by:
Omen55 2/15/2024 6:34:55 PM (No. 1658627)
Running outta OPM!
29 people like this.
Reply 5 - Posted by:
DVC 2/15/2024 7:32:44 PM (No. 1658667)
You want to influence these pukes hit them in their WALLETS.
37 people like this.
Reply 6 - Posted by:
Starboard_side 2/15/2024 7:55:58 PM (No. 1658675)
It all boils down to this:
BlackRock and State Street, which both manage trillions of dollars in assets, said the alliance's climate initiatives had gone too far, expressing concern about potential legal issues as well.
Remember, legal issues don't just happen in the United States, but all over the world.
And, wonder if they took a look at the recent data from Anthony Watts regarding how more than 90% of NOAA's temperature monitoring stations had a heat bias.
Many were at airports where there's lots of concrete and asphalt, in parking lots, next to exhaust fans of air conditioning units, near sidewalks and buildings that absorb and radiate heat.
If you're making policy off of faulty or erroneous data, and there is harm from the changes it will likely result in many lawsuits for damages.
35 people like this.
Reply 7 - Posted by:
Jesuslover54 2/15/2024 8:28:55 PM (No. 1658685)
Head fake or real?
Based on past actions I have my suspicions.
24 people like this.
Reply 8 - Posted by:
downnout 2/15/2024 9:05:10 PM (No. 1658699)
I think the word “fiduciary” is important here….
17 people like this.
Reply 9 - Posted by:
Lawsy0 2/16/2024 3:35:29 AM (No. 1658804)
The UN won't be able to put its money where its mouth is. It isn't the mouth the UN speaks from, anyway. Our local climate changes from fair to foul often; like the morality of the formerly united League of Nations.
10 people like this.
Reply 10 - Posted by:
Trigger2 2/16/2024 3:40:03 AM (No. 1658808)
Smart decision. It's a hoax anyway.
14 people like this.
Reply 11 - Posted by:
Strike3 2/16/2024 6:28:41 AM (No. 1658867)
Their management must be getting headaches from the G-Forces caused by all the tables turning. Climate Change is just one more Euroweenie-driven scam to draw money from the "rich" American taxpayers and into their ravaged treasuries. Twenty years from now, "Isolationist" will have become a good thing.
16 people like this.
Reply 12 - Posted by:
Rumblehog 2/16/2024 6:29:31 AM (No. 1658868)
Gee, I wonder if they sensed a little anti-American, anti-corporate, anti-white attitudes while attending these UN hatefests? The UN is THE most anti-American institution in the world today. It's high time we kick the UN out of the USA and pull the USA out of the UN.
25 people like this.
Investing in Globull Hoaxes is not........ sustainable.
15 people like this.
Reply 14 - Posted by:
franq 2/16/2024 6:50:02 AM (No. 1658875)
Good news, if true. We've suffered under this hoax long enough.
14 people like this.
Reply 15 - Posted by:
LC Chihuahua 2/16/2024 8:58:18 AM (No. 1658941)
The 'green bubble' that the looters created is about to burst. They are taking their gains and bailing. Going green was never a good investment.
14 people like this.
Reply 16 - Posted by:
janjan 2/16/2024 9:05:28 AM (No. 1658946)
Black Rock and JP Morgan did not have a sudden epiphany. They had their minds changed for them by large investors running for the exits. The rich only bow down to climate change in public. They do not intend to lose money on alternative fuels and woke ideologies.
16 people like this.
Reply 17 - Posted by:
Trapper 2/16/2024 10:05:40 AM (No. 1658991)
Trump is coming. Smart money knows it, and is liquidating their climate change positions and taking new positions consisitent with MAGA policies. There will be WAY more money to be made under MAGA growth polcies than there ever would have been in the shrinking, austerity, and rationing that are called for under climate change policies. Hard to make money when all anyone is allowed to do is sit in the dirt and eat bugs.
12 people like this.
Reply 18 - Posted by:
Vaquero45 2/16/2024 12:05:43 PM (No. 1659107)
Last year the company I retired from - that had my 401K - turned over handling to a 3rd party administrator, Vanguard. About that time, Vanguard announced they were pursuing ESG investment strategies; that is, environmental, social, and governance. I immediately called my investment guy and got him ready to move my entire 401K over to his control. A few days later we had a 3-way call to do it. I had to wait that long to get an appointment to talk to Vanguard. I asked my investment guy why it might have taken so long. He replied that it was probably because there were a ton of people ahead of me trying to move all of their money away from Vanguard! I'll bet he was right.
14 people like this.
Below, you will find ...
Most Recent Articles posted by "Dreadnought"
and
Most Active Articles (last 48 hours)