JPMorgan Asset Management (JPMAM) has decided to exit the Net Zero Asset Managers (NZAM) initiative, citing a pause in January amidst developments in the regulatory environment and client expectations. The company did not provide further comments, nor did the organizers of the initiative. The NZAM, launched in December 2020, aimed to align the global fund management industry with climate goals. BlackRock, the world’s largest asset manager, also quit NZAM in January, leading to the suspension of efforts. JPMorgan itself left the Net Zero Banking Alliance the same month. — news from Reuters
