As you may expect from a leading financial services firm, Morgan Stanley’s sustainability credentials are all about the numbers – both large and small.
There is zero (which is good when it comes to net emissions) and there is a trillion (which is great when that equates to dollars being mobilised for sustainable solutions that support the UN Sustainable Development Goals).
There are also firsts. In 2020, Morgan Stanley was the first major US-headquartered global financial services firm to commit to achieving net zero in financed emissions by 2050.
In 2022, the company achieved carbon neutrality across direct Scope 1 emissions, indirect Scope 2 from energy purchasing, and Scope 3 from business travel and owned assets that are leased.
Morgan Stanley’s latest ESG Report was published in August 2023, and it highlights some of the key achievements. Unsurprisingly, it was the significant numbers that garnered the most attention.
Through 2022, Morgan Stanley mobilised US$700 billion in capital, including US$550 billion in low-carbon and green solutions. That is already some serious headway in the stated ambition of a trillion dollars by 2030, with US$750 billion for low-carbon initiatives. It would not surprise Sustainability magazine if Morgan Stanley were to first to reach and then increase that commitment.
The 2022 ESG Report highlighted the firm’s resilience in the face of high inflation, war in Europe, and geopolitical tensions globally – while still delivering on environmental, social and governance.
“At Morgan Stanley, our D&I, climate and sustainability efforts go hand in hand,” said Chairman and CEO James P Gorman in his summary.
“We have made progress across our business, with our firm’s culture guiding our activities. As we continue to deliver long-term value for our shareholders, we remain focused on ESG objectives for our clients, employees and the communities in which we live and work.”
Source: sustainabilitymag.com
