In this photo illustration, the Vanguard Group logo is seen in the background of a silhouetted woman holding a mobile phone.Rafael Henrique/SOPA Images/LightRocket via Getty Images Vanguard announced on Wednesday it's pulling out of an initiative to fight climate change. It said that its involvement in the initiative sparked "confusion" among its investors. Biden previously proposed a plan to involve the financial sector in reaching net zero carbon emissions. The world's biggest mutual fund manager is pulling out of an initiative to combat the climate crisis.