Morgan Stanley Vows "Net-Zero Financed Emissions" by 2050
Morgan Stanley (NYSE: MS) has become the first major U.S. bank to commit to achieving "net-zero financed emissions" by 2050.
That means the bank intends to drastically -- if not entirely -- reduce its lending and underwriting of debt and equity to industries that greatly contribute to climate change, such as the oil and gas sector.
Any remaining amounts of financing to these fossil fuel-producing industries will be offset with the financing of companies that help remove carbon from the atmosphere.
Source Fool.com
