LONDON, Jan 2 (Reuters) - Investment bank Morgan Stanley ( MS )
said on Thursday it had decided to leave the Net-Zero
Banking Alliance, becoming the latest U.S. lender to quit the
sector's top global climate coalition.
While the bank gave no reason for its decision, top banks
have been under pressure from some U.S. Republican politicians
over their membership, with accusations that any move to limit
finance to fossil fuel companies could breach antitrust rules.
Despite leaving the NZBA, Morgan Stanley ( MS ) said in a statement
that its commitment to helping the world transition to net-zero
carbon emissions "remains unchanged".
"We aim to contribute to real-economy decarbonization by
providing our clients with the advice and capital required to
transform business models and reduce carbon intensity," it said.
The bank said it would also continue to report on its
efforts towards previously set 2030 targets to reduce the
emissions tied to its loan book.
The decision by Morgan Stanley ( MS ) follows similar moves in
recent weeks by Citigroup ( C/PN ), Bank of America ( BAC ), Wells
Fargo ( WFC ) and Goldman Sachs ( GS ).