Morgan Stanley commits $750bn to low-carbon solutions
US-based investment firm Morgan Stanley announced April 13 it committed $750bn to build on its legacy of support for the energy transition.
The company said the $750bn supports the sustainable solutions outlined by the United Nations.
“The convergence of recent crises in climate, health, and social justice underscore the interconnections between environmental, societal, and structural issues,” Audrey Choi, the chief sustainability officer at Morgan Stanley, said. “It is imperative for business and finance to accelerate our efforts to drive positive global systemic change.”
Choi added the new commitment means the firm has tripled its funding efforts geared toward low-carbon solutions from its first $250bn unveiled in 2018. A target goal for total funding was set at $1 trillion.
Morgan Stanley said it has a well-established position as the first major US bank to align itself with the goals outlined in the international Paris climate agreement. The UN Sustainable Development Goals, a set of 17 interconnected objectives adopted in 2015, will provide a roadmap for investments.