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 Inc. is parting ways with one of the world’s biggest climate-investor groups after being targeted by Republican politicians for its efforts on global warming.

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,

Asset management firm BlackRock is leaving a climate-focused investing group, the group confirmed. “We are disappointed to see any investor withdraw, but as a voluntary initiative, we respect any individual decisions signatories take,

BlackRock (NYSE:BLK), the U.S.'s largest asset manager, has decided to exit a major climate group, succumbing to pressure from Republican politicians who have criticized the firm's commitment to addressing global warming,