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Latest in a string of U.S. leavers from the group
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Republican politicians cite anti-trust concerns
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CA100+ says members act independently
(Adds more detail and background throughout)
By Iain Withers and Simon Jessop
LONDON, Aug 9 (Reuters) - Goldman Sachs' ( GS ) fund
division is to leave investor engagement group Climate Action
100+, joining other financial services companies which have
pulled out amid a political backlash in the United States.
U.S. members of global climate-focused coalitions have come
under pressure as some Republican lawmakers have criticised them
for potentially breaching antitrust rules by pushing companies
to cut climate-damaging emissions.
At the end of July, the Republican leader of a U.S.
congressional committee wrote to demand more than 130 investors
explain their environmental, social and governance (ESG) goals.
A Goldman Sachs ( GS ) spokesperson said the fund division would
leave the group and highlighted its ability to engage with
companies on its own account.
"We've made investments in our ability to meet the
sustainable investing needs of our clients and remain committed
to leveraging our global capabilities," the spokesperson said.
Others investment companies to leave in the past couple of
weeks include Aristotle Credit and Aristotle Pacific Capital on
July 31, TCW Group on Aug. 1, Vert Asset Management, Mellon
Investment Corp and Water Asset Management on Aug. 2.
Some big players have also left this year, including
Invesco, JPMorgan's fund division and State Street Global
Advisors.
CA100+ had no immediate comment on Goldman's decision.
In a statement earlier this week, a CA100+ spokesman said
the way CA100+ operates was "well described" on its website and
in documents produced for the U.S. House Judiciary Committee.
"These recent letters to Climate Action 100+ investors are
another attempt to deter investors from considering and acting
on climate risks and opportunities. Investors are independent
fiduciaries, responsible for their investment and voting
decisions," he said.