Exclusive: State Street takes US fund arm out of climate group

Core Viewpoint - State Street, the world's third-largest asset manager, is withdrawing most of its operations from the main global climate coalition, indicating a significant shift in its strategy towards climate-related initiatives [1] Group 1: Company Actions - State Street is pulling the bulk of its operations out of the climate coalition, which suggests a reevaluation of its commitment to climate-related investments [1] - The decision comes despite the coalition's efforts to retain members, highlighting potential challenges within the coalition's framework [1] Group 2: Industry Implications - The withdrawal of a major player like State Street from the climate coalition may signal broader trends in the asset management industry regarding climate commitments and investment strategies [1] - This move could impact the coalition's influence and effectiveness in driving climate-related initiatives across the industry [1]