financetom
Business
financetom
/
Business
/
Morgan Stanley to leave sector climate coalition
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Morgan Stanley to leave sector climate coalition
Jan 2, 2025 5:30 AM

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 ).

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2026 - www.financetom.com All Rights Reserved