Morgan Stanley Joins U.S. Bank Exodus from Climate Coalition

A slew of US banks have exited a climate coalition in the days leading up to Donald Trump’s presidential inauguration. Yesterday evening, Morgan Stanley became the latest US bank to depart from the Net Zero Banking Alliance, as pressure increasingly mounted on financial institutions from Republican lawmakers. Despite leaving the alliance, Morgan Stanley said in a statement that the bank’s commitment to meeting its carbon targets “remains unchanged”. Citigroup and Bank of America also left the group earlier this week, while…