Net zero investment group drops 2050 target after US political backlash

The Net Zero Asset Managers initiative re-launched this week with more than 250 members after a year-long suspension and with looser rules after a US political backlash prompted BlackRock (BLK.N) to leave the climate group.

The group’s new membership statement, created following a six-month review, no longer has an explicit requirement for members to align their investment portfolios with net-zero by 2050, or a requirement to set shorter-term targets.

It followed attacks from...