Vanguard refuses to sign up to climate crisis commitment

US asset manager that built up fossil fuel portfolio fails to join rivals in engaging with climate

Vanguard, the world's second largest asset manager, has refused to sign up to a group of major investors demanding that polluters respond to the climate crisis, despite its rival BlackRock relenting to pressure to do so.

The US investment manager's decision leaves it increasingly isolated after BlackRock last week joined Climate Action 100+ (CA100+), a group of asset managers that pushes the largest fossil fuel producers to show how they will meet carbon dioxide reduction targets.