09:04 AM EDT, 10/25/2024 (MT Newswires) -- Morgan Stanley ( MS ) has cut its emissions reduction targets for its corporate lending portfolio, blaming the move on a lack of global progress transitioning to a low-carbon economy, Reuters reported Friday.

Reuters citied Jessica Alsford, the financial services giant's chief sustainability officer, who attributed the target reductions to slower sales of electric vehicles, as well as the slow uptake of aviation biofuels among other reasons.

Morgan Stanley ( MS ) did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 119.72, Change: +0.55, Percent Change: +0.46