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Morgan Stanley to share its climate impact

Tuesday 21 July 2020 10:35 CET | News

US-based bank Morgan Stanley has announced plans to publicly disclose how much its loans and investments contribute to climate change.

The move comes as financial regulators in many countries are considering whether to require greater disclosure from companies about the risks they face from climate change — and as a growing number of shareholders and investors worry about their exposure to fossil fuels that could suffer from future government policies to rein in greenhouse gas emissions, according to politico.com.

The bank is joining the Partnership for Carbon Accounting Financials, a global body with 66 financial company members managing USD 5.3 trillion of assets, that will count the greenhouse gas emissions from projects and investments that are financed by asset managers, banks, and other institutions. Morgan Stanley will sit on the group’s steering committee to help deliver a final methodology for financial institutions to follow this fall.

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Keywords: Morgan Stanley, US, United States, bank, loans, investments, climate change, climate impact, financial regulators, fossil fuels, government policies, greenhouse gas emissions, Partnership for Carbon Accounting Financials, financial company, financial institutions
Categories: Banking & Fintech | Online & Mobile Banking
Countries: United States
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Banking & Fintech