Morgan Stanley will start measuring and disclosing lending portfolio greenhouse gas emissions and back the push toward universal climate-risk accounting — the first U.S. bank to take such actions.
The Partnership for Carbon Accounting Financials (PCAF) confirmed on Monday that Morgan Stanley MS, -0.78% has joined in its efforts toward a unified measuring financed emissions. In addition, Morgan Stanley will help PCAF develop the global accounting standard that can be used by all financial institutions to measure and reduce their climate impact.
Launched globally last year, PCAF is a collaboration to standardize carbon accounting for the financial sector, enabling a harmonized approach to the assessment and disclosure of greenhouse gas emissions financed by loans and investments. Read Full Article - MarketWatch, July 20, 2020