Pressured by fossil fuel interests, Vanguard decides maybe climate change isn’t a problem after all • TechCrunch
Vanguard announced earlier this week that it was leaving the Net Zero Asset Managers initiative, a nascent attempt by the industry to self-regulate its carbon emissions. Its departure reinforces the need for government oversight of climate risks in investments.
Absent legal, financial or professional repercussions, industry self-regulation is often little more than window dressing so members can say they’re doing something, anything.
That’s not to denigrate the work being done by the Net Zero…