Vanguard defends decision to quit Net Zero Asset Managers - reports

'Our voice was being drowned out'

clock • 2 min read

Vanguard exited a group of asset managers that had come together to address climate change because it was not being listened to, its CEO has claimed, as he warned about ESG-focused returns.

The world's second largest asset manager resigned from the Net Zero Asset Managers initiative in December but stated it is committed to lowering greenhouse gas emissions. Speaking to the FT, Vanguard chief executive Tim Buckley said the decision to leave came because "we felt that our voice was being drowned out or confused".  Buckley said Vanguard's position is to not "dictate company strategy" of the companies it invests in, describing such action as "hubris". He added: "We just want to make sure that risks are being appropriately disclosed and that every company is playing by th...

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