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FT News Briefing
Asset managers cool on climate group
Feb 16, 2024
European Commision president Ursula von der Leyen discusses Europe's military, major asset managers leaving a climate group, and the challenges faced by big food companies in implementing new farming practices to store carbon underground.
11:43
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Quick takeaways
- European Commission President proposes incentivizing defense production within the EU to strengthen military capabilities.
- JP Morgan, State Street, and BlackRock are distancing themselves from Climate Action 100 Plus due to conflicting legal obligations and pressure on companies to change their business models.
Deep dives
Boosting the Bloc's Military
European Commission President Ursula Lavondarlyan proposes ramping up production and consolidation in the bloc's defense industry. The EU is exploring incentives to support joint contracts for weapons between member states. The move is prompted by increased military spending in response to Russia's invasion of Ukraine.
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