Asset Management

Vanguard quits $66tn net-zero coalition

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

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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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