Morgan Stanley Reaches 70% of $1 Trillion ESG Funding Goal

Morgan Stanley said it’s more than two thirds of the way towards achieving its target to finance $1 trillion of low carbon and sustainability investments by the end of the decade.

The Wall Street firm said in an ESG report this week that it has allocated $700 billion of financing, with more than $550 billion of that directed to green activities. The bank said numerous groups contributed to the program, including its securitized products, commodities and wealth management divisions. The funds went to areas including clean energy, carbon removal and social housing.