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

One of the world’s leading international nonprofit organizations, Environmental Defense Fund (edf.org) creates transformational solutions to the most serious environmental problems. To do so, EDF links science, economics, law, and innovative private-sector partnerships. With more than 3 million members and offices in the United States, China, Mexico, Indonesia and the European Union, EDF’s scientists, economists, attorneys and policy experts are working in 28 countries to turn our solutions into action. Connect with us on Twitter @EnvDefenseFund

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