Morgan Stanley Is Latest Bank to Exit UN-backed Climate Group

Morgan Stanley said in a statement to the press that it remains committed to its own net-zero goals.

A view of the exterior of the Morgan Stanley Headquarters in Times Square in New York City in July 2021. Gabriel Pevide/Getty Images for Morgan Stanley

Morgan Stanley became the latest major bank to quit the U.N.-backed Net-Zero Banking Alliance.

On Jan. 2, the New York-based financial services company said it had “decided to withdraw” from the voluntary climate pact sponsored by the U.N. Environment Programme Finance Initiative.