Morgan Stanley Follows Citi, BofA in Quitting Climate Group
- Bank says it remains committed to helping clients transition
- Goldman, Wells Fargo have also recently quit climate alliance
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Morgan Stanley terminated its membership of a major climate-banking group, joining a wave of Wall Street firms that recently quit a global alliance intended to aid the reduction of greenhouse-gas emissions.
Morgan Stanley is leaving the Net-Zero Banking Alliance, the lender said on Thursday. Citigroup Inc. and Bank of America Corp. said earlier this week that they were doing the same.