BlackRock Inc. is parting ways with one of the world’s biggest climate-investor groups after being targeted by Republican politicians for its efforts on global warming.The money manager has decided to leave the Net Zero Asset Managers initiative,

BlackRock, the world's biggest asset manager, said on Thursday it will leave the Net Zero Asset Managers Initiative, the latest Wall Street firm to depart an environmentally focused investor group under pressure from Republican politicians.

U.S. lenders have been rushing in recent weeks to leave one of the world's top banking sector climate coalitions, drawing scorn from campaigners who worry the industry is losing resolve to take action on fossil fuels.

Asset management firm BlackRock is leaving a climate-focused investing group, the group confirmed. “We are disappointed to see any investor withdraw, but as a voluntary initiative, we respect any individual decisions signatories take,

BlackRock is pulling out of a United Nations-sponsored climate initiative, a remarkable U-turn for a company that was once a poster child of the environmental, social and governance investing movement.

BlackRock has become the latest financial firm to bail out of a big climate change industry group in the wake of Donald Trump’s election as US president and heightened regulatory scrutiny. The world’s largest money manager told institutional clients in a letter on Thursday that it had quit Net Zero Asset Managers,