Morgan Stanley announces bold CO2 plans

The U.S. investment bank Morgan Stanley aims to achieve carbon neutrality for global operations by 2022. Measures will include further reducing its energy consumption and sourcing all its energy needs from renewable energy alone.

Morgan Stanley is moving forward with its sustainability goals. As the investment bank announced on Wednesday, it aims to further reduce its overall energy usage by 2022 and compensate the remaining emissions via various measures.

To achieve this goal, the bank plans to source 100 per cent of its global energy needs from renewable energy by 2022 and achieve a 20 per cent reduction in energy usage from a 2012 baseline. Morgan Stanley will also look into on-site power generation, power purchase agreements, renewable energy credits and carbon offsets as part of its overall strategy to achieve carbon neutrality.

“Morgan Stanley has been committed for over a decade to reducing our greenhouse gas emissions through strategic energy efficiency in our buildings and adding new renewable energy capacity to the grid from on-site power generation at our own properties,” said Tom Nides, vice chairman of Morgan Stanley.

Since 2006, Morgan Stanley has mobilized over $75 billion in capital towards cleantech and renewable energy. Last year it facilitated more than $6 billion in green bond issuances.

 

Image credit: Adrian Scottow via Flickr

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