US investment bank Morgan Stanley has become the latest major financial institution to quit a global climate-banking group, following Citigroup and Bank of America.
The firm announced its departure from the Net-Zero Banking Alliance, citing no specific reasons for its decision. However, it stated that it remains committed to helping clients transition to more sustainable practices.
Morgan Stanley’s move comes as several Wall Street firms have recently left the alliance, which aims to reduce greenhouse-gas emissions through financial sector actions. Goldman Sachs and Wells Fargo have also been among those to exit the group in recent weeks.
Source: https://www.bloomberg.com/news/articles/2025-01-02/morgan-stanley-leaves-net-zero-alliance-for-banks