More than 40 global banks including Morgan Stanley, Citigroup Inc. and UBS Group AG have signed a pledge to cut pollution from their portfolios and reach net zero emissions by 2050.
The Glasgow Financial Alliance for Net Zero, led by former Bank of England governor Mark Carney, brings together several new and existing climate finance pacts involving a total of 160 companies responsible for $70 trillion in assets. The announcement Wednesday comes ahead of U.S. President Joe Biden’s global summit on the climate.
