We use cookies
To help provide you with a good experience on our website. By continuing to browse the website, you are agreeing to our use of cookies.

Morgan Stanley Vows “Net-Zero Financed Emissions” by 2050

GO NET ZERO ENERGY

Morgan Stanley Vows “Net-Zero Financed Emissions” by 2050

Morgan Stanley (NYSE: MS) has become the first major U.S. bank to commit to achieving "net-zero financed emissions" by 2050. Source: Nasdaq

That means the bank intends to drastically -- if not entirely -- reduce its lending and underwriting of debt and equity to industries that greatly contribute to climate change, such as the oil and gas sector.

Any remaining amounts of financing to these fossil fuel-producing industries will be offset with the financing of companies that help remove carbon from the atmosphere.

Morgan Stanley has financed nearly $92 billion to the fossil fuel industry over the past four years, according to a report from the Rainforest Action Network.

The bank, which operates heavily in the investment banking, wealth management, and trading segments, had about $263 billion in total loans and lending commitments at the end of the second quarter of this year. At least $10 billion of those commitments were in the energy industry, according to a recent regulatory filing.

Pressure has been mounting on banks to do more to combat climate change.

In July, Morgan Stanley said it would publicly disclose how much exposure it had to industries that contribute to climate change . 

Relevant news

GO DIGITAL ENERGY
FutureOn partners with Universidade Federal Do Rio De Janeiro to develop new talent for the energy transition
FutureOn, has signed a licensing and partnership agreement with Universidade Federal do Rio de Janeiro (UFRJ) which will inspire and educate upcoming generations entering.
GO NET ZERO ENERGY
Virgin Atlantic flew its first 100% sustainable aviation fuel flight
Virgin Atlantic’s 100% Sustainable Aviation Fuel flight has successfully landed in New York City.
DOWNSTREAM CENTRAL ASIA AND CASPIAN
MAIRE and Kazakhstan: to cooperate on energy transition initiatives
MAIRE and Samruk-Kazyna, signed a Memorandum of Understanding to reinforcing their cooperation in the energy transition.
GO DIGITAL ENERGY
ABN AMRO fuels green innovation: Invests in SET fund IV's digital technology drive for a sustainable future
ABN AMRO is investing in data and digital technology companies that help to a zero-carbon society.
GO NET ZERO ENERGY
What are the three key challenges for the energy industry today on it's path to energy transitions?
Interview with Eric Koenig, Global Strategy Vice President for Energies and Chemicals, Schneider Electric at the 4th Go Net Zero Energy Conference in Brussels.
GO CIRCULAR
Mars pledges US$1B investment in net zero emissions plans
Mars has released its “Net Zero Roadmap,” setting targets to cut carbon in half by 2030.