Asset managers cool on climate group

European Commision president Ursula von der Leyen says Europe’s military needs to step up and two of the world’s biggest asset managers are quitting an investor group set up to prod companies over global warming. Plus, big food companies are jumping into new farming practices meant to store carbon underground, but there are significant hurdles.

Mentioned in this podcast:

Von der Leyen calls on EU to subsidise defence production

JPMorgan and State Street quit climate group as BlackRock scales back

The dubious climate gains of turning soil into a carbon sink

Hedge fund stampede into cocoa futures fuels record price spike

The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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