12:51 PM EDT, 03/21/2025 (MT Newswires) -- (Updates throughout with comments from JPMorgan ( JPM ).)

JPMorgan Chase's ( JPM ) asset management unit has exited the Net Zero Asset Managers Initiative, a company spokesperson told MT Newswires on Friday.

J.P. Morgan Asset Management is ending its membership in the group, the spokesperson said.

The climate group announced in January that it had paused operations due to developments in the regulatory environment and client expectations. In light of this, J.P. Morgan Asset Management decided to withdraw from the initiative, the spokesperson added.

Reuters first reported the news earlier Friday.

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