Morgan Stanley Decides to Exit the Net-Zero Banking Alliance

Morgan Stanley (NYSE:MS) announced via email on Thursday that it has decided to withdraw from the Net Zero Banking Alliance. The email stated that Morgan Stanley's "net zero commitment has not changed."

The statement emphasized, "We aim to contribute to the decarbonization of the real economy by providing our clients with the advice and capital they need to transform their business models and reduce carbon intensity. We will continue to report on our progress towards our interim financing 2030 emissions targets."

Before Morgan Stanley, Goldman Sachs Group Inc., Wells Fargo (NYSE:WFC) & Co., Citigroup Inc., and Bank of America Corp. had made similar decisions.