00:00 It's Benzinga and here's what's on the block.
00:02 JPMorgan and State Street announced leaving the Climate Action 100+ group controlling $68 trillion
00:08 in assets. BlackRock also pulling some investment totaling around $14 trillion lost by the Climate
00:14 Group. Climate Action 100+ pushes companies to take action on climate change through shareholder
00:20 engagement. State Street cited Climate Action's enhanced requirements as inconsistent with its
00:25 engagement approach and JPMorgan said it no longer needs to rely on climate action as its stewardship
00:30 capabilities evolved. The moves were praised by Republicans who say ESG harms the economy
00:36 and uses customer money for politics. For all things money visit Benzinga.com
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