Morgan Stanley Latest Major US Bank To Desert Global Climate Alliance

Morgan Stanley withdrew from the UN-backed Net-Zero Banking Alliance on Thursday, becoming the fifth major U.S. bank to abandon the climate coalition in recent weeks. The departure follows similar moves by Citigroup, Bank of America, Goldman Sachs and Wells Fargo.

While maintaining its commitment to net-zero goals and 2030 emissions targets, Morgan Stanley joins a broader retreat from environmental initiatives by financial institutions. The bank's exit from the alliance, established in 2021 to reduce lending-related emissions, comes amid mounting Republican scrutiny of Wall Street's climate policies and legal challenges from state attorneys general targeting financial firms' environmental stances.

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