Published: Nov. 3, 2021
2030 targets announcement follows Morgan Stanley’s commitment to net-zero financed emissions by 2050, the first among large U.S. banks
Progress builds on Firm’s leadership in the Partnership for Carbon Accounting
Financials (PCAF) and the Net-Zero Banking Alliance (NZBA)
New York -
Morgan Stanley (NYSE: MS) today announced new steps towards its commitment to reach net-zero financed emissions by 2050. Building on its commitment to finance $1tn towards the Sustainable Development Goals, including $750MM of financing to drive the climate transition, Morgan Stanley has set 2030 interim targets for three sectors: Auto Manufacturing, Energy and Power.
In September 2020, Morgan Stanley became the first major U.S.-headquartered financial services firm to commit to net-zero financed emissions by 2050. The release of the Firm’s first interim targets represents an important milestone in support of its 2050 commitment.
Audrey Choi, Morgan Stanley’s Chief Sustainability Officer said “The recent report from the Intergovernmental Panel on Climate Change makes clear the urgency of addressing greenhouse gas emissions, and that near-term reductions are necessary if the world is to limit global temperature rise to 1.5°Celsius. Morgan Stanley’s interim net-zero targets set us on that path toward a more sustainable and prosperous future.”