Morgan Stanley (NYSE: MS) today announced an updated commitment to mobilize $750 billion to support low-carbon solutions by 2030, following its initial commitment of $250 billion announced in 2018, representing a three-fold increase. The commitment builds on Morgan Stanley’s leadership position as the first large U.S. bank to commit to net-zero financed emissions by 2050 in line with the Paris Agreement, and its role as the sole large U.S. bank on the Steering Committee of the Partnership for Carbon Accounting Financials (PCAF). The Firm will achieve this commitment through increased activities such as clean-tech and renewable energy finance, green bond financing and other transactions that enable a transition to a low-carbon economy.
This enhanced commitment is part of a larger goal Morgan Stanley is announcing to mobilize a total of $1 trillion towards sustainability solutions in support of the United Nations’ Sustainable Development Goals (SDGs) by 2030. The UN Sustainable Development Goals provide a roadmap for some of the main societal developmental areas for investment. The Firm will mobilize capital towards this goal through its robust sustainable investing capacity and product offerings for corporations, governments and individuals across businesses including Investment Banking, Investment Management, Institutional Securities and Wealth Management.
“The convergence of recent crises in climate, health, and social justice underscore the interconnections between environmental, societal, and structural issues. It is imperative for business and finance to accelerate our efforts to drive positive global systemic change,“ said Audrey Choi, Morgan Stanley’s Chief Sustainability Officer and CEO of the Institute for Sustainable Investing. “We are tripling our low-carbon commitment and increasing our SDG goals for the simple reason that there is no time to waste. As a leader in sustainable finance, it is our obligation to do more to support businesses, governments and individuals in securing a more sustainable world for future generations.”[…]