Morgan Stanley leaves Net Zero Banking Alliance

Follows move from other banks

Morgan Stanley has pulled out of the Net Zero Banking Alliance (NZBA), a group of global banks seeking to align their lending, investment and capital markets activities with achieving net-zero greenhouse gas emissions by 2050.

The decision to leave the climate group was confirmed by a company spokesperson on Friday (3 January), who told Investment Week that "Morgan Stanley's commitment to net zero remains unchanged". "We aim to real-economy decarbonisation by providing our clients with the advice and capital required to transform business models and reduce carbon intensity," the spokesperson said. "We will continue to report on our progress as we work towards our 2030 interim financed emissions target." Baillie Gifford withdraws from Climate Action 100+ and Net Zero Asset Managers initiative The cal...