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 it said in a letter to clients on Thursday. Membership in the group “caused confusion regarding BlackRock’s practices and subjected us to legal inquiries from various public officials,” the New York-based firm said.
BlackRock, which oversees more than $