From: AlleyCat <katt@gmail.com>
Newsgroups: alt.global-warming,alt.fan.rush-limbaugh,can.politics,alt.politics.liberalism,alt.politics.democrats,alt.politics.usa.republican
Subject: Another Bank Shows They're Not Stupid
Date: Thu, 2 Jan 2025 12:36:01 -0600
Organization: AlleyCat Computing, Inc.
Wall Street is abandoning "Net Zero."
Investment bank Morgan Stanley announced today that they are leaving the Net-Zero Banking Alliance, joining Citigroup Inc. and Bank of America, which
left the global climate coalition earlier this week.
Goldman Sachs Group, Inc. and Wells Fargo left the alliance in December.
https://pbs.twimg.com/media/GgTUTLoXwAAaX1e?format=jpg&name=large
Morgan Stanley To Leave Sector Climate Coalition
By Reuters
January 2, 2025 1:04 PM UTC Updated ago
LONDON, Jan 2 (Reuters) - Investment bank Morgan Stanley (MS.N), opens new tab said on Thursday it had decided to leave the Net-Zero Banking
Alliance, becoming the latest U.S. lender to quit the sector's top global climate coalition.
While the bank gave no reason for its decision, top banks have been under pressure from some U.S. Republican politicians over their membership, with
accusations that any move to limit finance to fossil fuel companies could breach antitrust rules.
Despite leaving the NZBA, Morgan Stanley said in a statement that its commitment to helping the world transition to net-zero carbon emissions
"remains unchanged".
"We aim to contribute to real-economy decarbonization by providing our clients with the advice and capital required to transform business models and
reduce carbon intensity," it said.
The bank said it would also continue to report on its efforts towards previously set 2030 targets to reduce the emissions tied to its loan book.
The decision by Morgan Stanley follows similar moves in recent weeks by Citigroup (C.N), opens new tab, Bank of America (BAC.N), opens new tab, Wells
Fargo (WFC.N), opens new tab and Goldman Sachs (GS.N), opens new tab.
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