Morgan Stanley quietly walks away from plastics financing goal

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The story "Morgan Stanley quietly walks away from plastics financing goal" was covered 10 hours ago by Economic Times, a news publisher based in India.

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Morgan Stanley quietly walks away from plastics financing goal - Economic Times

Quick Summary:

Morgan Stanley will no longer track financing activities related to plastic waste as a standalone goal but will continue working with clients and partners on sustainable finance solutions, aiming to mobilize $1 trillion by 2030.

Morgan Stanley helped arrange a $705 million green bond in 2020 for Coca-Cola Femsa, with proceeds earmarked for helping meet its plastics commitments.A similar deal for a $1.25 billion bond was struck for PepsiCo Inc.in 2022.

James Gorman, who was chief executive officer of Morgan Stanley when the bank released its plastics target, had praised the decision to become the first among peers to take such a step.