Bar for Banks Rises as Morgan Stanley Commits to Net Zero by 2050
Statement of Ben Ratner, Senior Director, EDF+Business
“Morgan Stanley is the first major U.S. bank to pledge to net zero financed emissions by 2050, but it won’t be the last.
“Morgan Stanley’s commitment is a clear sign to shareholders that it sees the commercial opportunity to shift capital to companies with net zero commitments, strategies, and actions. Aligning its business with a net zero pathway allows a bank to manage systemic climate risk, while providing capital to companies positioned to thrive in a de-carbonizing world.
“Adopting net zero by 2050 as the north star will become the new normal for companies and investors, and we encourage other banks to follow Morgan Stanley’s lead. The real leaders will emerge based on their ability to set near-term milestones, engage key sectors, and ensure climate-friendly asset allocation.”
— Ben Ratner, Senior Director, Environmental Defense Fund
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Environmental Defense Fund (edf.org), a leading international nonprofit organization, creates transformational solutions to the most serious environmental problems. EDF links science, economics, law and innovative private-sector partnerships. Connect with us on our EDF+Business blog, EDF Voices, Twitter and Facebook.