Banking Giant JP Morgan Exits Climate Action Group

JP Morgan Asset Management has left the Climate Action 100+ group that was set up to pressure companies into becoming greener. The reason for the move, per the Financial Times, is that the bank’s asset management arm believes it has accumulated the expertise to push companies into climate action on its own.

“The firm has built a team of 40 dedicated sustainable investing professionals,” a spokeswoman for JP Morgan Asset Management told the FT. “Given these strengths and the evolution of its own stewardship capabilities,…