Wall Street giant Morgan Stanley has followed in the footsteps of Citigroup and Bank of America by quitting a major climate-banking alliance, citing its commitment to helping clients transition to a more sustainable financial system. Goldman Sachs and Wells Fargo have also recently withdrawn from the Net-Zero Banking Alliance, leaving industry watchers questioning the long-term viability of such initiatives as companies reassess their priorities in the face of growing environmental concerns.
Source: https://www.bloomberg.com/news/articles/2025-01-02/morgan-stanley-leaves-net-zero-alliance-for-banks?srnd=homepage-canada