The world’s biggest climate finance alliance backed by major asset managers said it would suspend its activities, review its structure and no longer disclose its membership list, citing the election of Donald Trump and “different regulatory and client expectations”.

The Net Zero Asset Managers Initiative, launched in late 2020, had more than 300 members – including Australia’s Macquarie Asset Management, IFM Investors, Magellan Financial, Maple-Brown Abbott and Metrics Credit Partners – managing over $US57 trillion ($92 trillion). It was founded to promote the adoption of greenhouse gas reduction efforts.