The world’s second-largest asset manager is withdrawing from a major international financial industry effort to address climate change. Vanguard, which holds $7.1 trillion under management said Wednesday it is quitting the Net Zero Asset Managers initiative. NZAM members have committed to achieving net zero carbon pollution by 2050. Vanguard will also leave the Glasgow Financial Alliance for Net Zero. The move comes as Republicans are continuing their attacks on ESG investing, efforts they plan to redouble in the coming Congress. (FT $, Reuters)