Morgan Stanley to exit global climate coalition

Morgan Stanley Announces Climate Coalition Exit

Morgan Stanley announced that it has withdrawn from the Net-Zero Banking Alliance (NZBA), The post Morgan Stanley Announces Climate Coalition Exit appeared first on One Green Planet.

Morgan Stanley is latest lender to quit ‘net zero’ banking group

Morgan Stanley terminated its membership of a major climate-banking group, joining a wave of Wall Street firms that recently quit a global alliance intended to aid the reduction of greenhouse-gas emissions.

Morgan Stanley Joins U.S. Bank Exodus from Climate Coalition

A slew of US banks have exited a climate coalition in the days leading up to Donald Trump’s presidential inauguration. Yesterday evening, Morgan Stanley became the latest US bank to depart from the Net Zero Banking Alliance, as pressure increasingly mounted on financial institutions from Republican lawmakers. Despite leaving the alliance, Morgan Stanley said in a statement that the bank’s commitment to meeting its carbon targets “remains unchang…

Other banks such as Citigroup Inc. and Bank of America Corp, Goldman Sachs Group Inc. and Wells Fargo & Co. also withdrew from the progressive United Nations-backed group.

Big Banks Flee Climate Coalition Formed to Reduce Carbon Emissions

Bofa and Citigroup are also leaving the finance club (NZBA) in the fight against CO2. “To prosper over time, financial performance is not enough, every company must demonstrate that it has made a positive contribution to society, for the benefit of all its stakeholders; shares...