BlackRock, which oversees more than $11 trillion, has been the subject of attacks from GOP lawmakers for embracing what conservatives call “woke” policies.

BlackRock, the world's biggest asset manager, said on Thursday it will leave the Net Zero Asset Managers Initiative, the latest Wall Street firm to depart an environmentally focused investor group under pressure from Republican politicians.

The nation’s largest investment manager is leaving the Net Zero Asset Managers initiative, joining a broader financial institution exodus from high-profile climate alliances.

BlackRock, the world's biggest asset manager, said on Thursday it will leave the Net Zero Asset Managers initiative, Wall Street's latest environmental step-back amid antitrust concerns raised by Republican politicians.

BlackRock has become the latest financial firm to bail out of a big climate change industry group in the wake of Donald Trump’s election as US president and heightened regulatory scrutiny. The world’s largest money manager told institutional clients in a letter on Thursday that it had quit Net Zero Asset Managers,

U.S. lenders have been rushing in recent weeks to leave one of the world's top banking sector climate coalitions, drawing scorn from campaigners who worry the industry is losing resolve to take action on fossil fuels.