Bank to deepen commitment to sustainability integration, performance and disclosure
BOSTON, Feb. 27 /CSRwire/ - Ceres announced today that its board of directors has approved Morgan Stanley, a leading global financial services firm, as the newest member of the Ceres company network. Companies that join the Ceres network strive to integrate environmental and social performance into their business strategies and initiatives and to continuously improve performance. In joining the Ceres company network, Morgan Stanley has committed to work to further improve its sustainability performance and disclosure by engaging with investors, environmental and civil society groups.
In 2013, Morgan Stanley created the Institute for Sustainable Investing with the goal of mobilizing capital to address sustainability challenges at scale, building on the firm’s existing efforts. The Institute focuses on developing sustainable investing products and solutions, thought leadership and cross-sector partnerships. As part of the Institute’s launch, Morgan Stanley announced a five-year goal of $10 billion in total client assets in investments that seek to deliver market-rate returns and positive environmental and social impact. Ceres President Mindy Lubber serves on the Institute’s Advisory Board, which is chaired by Morgan Stanley’s Chairman and CEO James Gorman.
“Banks play a critical role in the global transition to a low-carbon future,” Lubber said. “We look forward to working with Morgan Stanley as it continues to develop sustainable business strategies and builds on its commitment to raise $10 billion in client assets for sustainable investing.”
Morgan Stanley’s commitment to integrating environmental, social and governance issues into core business activities is long-standing. The firm seeks to use its capital markets expertise and global reach to support sustainable business models that strengthen communities, provide economic opportunities and preserve environmental resources.
"At Morgan Stanley, we believe the most effective solutions to sustainability challenges must be able to achieve scale," said Audrey Choi, CEO of the Morgan Stanley Institute for Sustainable Investing. "We are pleased to join Ceres and look forward to working with its members to further advance solutions that address these pressing global challenges."
Morgan Stanley is one of several financial services companies to join the Ceres network, along with Bank of America, Citi, State Street, Legg Mason, JP Morgan Chase, Prudential Financial and Wells Fargo.
Ceres is a nonprofit organization mobilizing business and investor leadership on climate change, water scarcity and other sustainability challenges. Ceres directs the Investor Network on Climate Risk (INCR), a network of over 100 institutional investors with collective assets totaling more than $11 trillion. Ceres also directs Business for Innovative Climate & Energy Policy (BICEP), an advocacy coalition of nearly 30 businesses committed to working with policy makers to pass meaningful energy and climate legislation. For more information, visit www.ceres.org or follow on Twitter @CeresNews.
About Morgan Stanley
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 1,200 offices in 43 countries. For further information about Morgan Stanley, please visit www.morganstanley.com.
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