Major U.S. Investment Bank Joins European Peers with Net Zero Commitment

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Morgan Stanley has pledged to net zero emissions in its loan portfolio by 2050, a move that brings America’s banking sector closer to European flagships and further complicates the outlook for fossil fuel issuers looking for a loan .

With $ 20.12 billion in liabilities to energy and utility companies, the investment banking giant represents only a small fraction of the fossil fuel lending that America’s six largest banks make today. – see our graph of the week for the breakdown. However, its commitment represents the banking sector’s latest step in pulling out of the heaviest users of fossil fuels.

“Fossil fuels have no future,” said CB Bhattacharya, professor of sustainability and ethics at the University of Pittsburgh. “Even the banks, which are always slow to adjust to these things, woke up and realized it was now or never.”

Graph of the week

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Events to come

Racism and economics
Federal reserve banks
October 7
In line

North America Sustainable Investment Forum 2020
Climate action
October 1-15
In line

Virtual sustainability week
The Economist
October 5-9
In line

Green finance and investment forum
OECD Center for Green Finance and Investment
October 6-9
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ESG and sustainable development forum
Infrastructure investor
12 october
In line

ESG investment North America
Reuters
October 13-14
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Responsible company USA 2020
Reuters
October 27-29
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Sustainable returns: ESG investment
Institutional investor
November 18-19
In line

Questions or suggestions? Contact the ESG News team of S&P Global Market Intelligence at [email protected]

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