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.

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, the world's biggest asset manager, said on Thursday it will leave the Net Zero Asset Managers Initiative, the latest Wall Street firm to depart an environmentally focused investor group under pressure from Republican politicians.

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,