Morgan Stanley Joins World Economic Forum's Global Plastic Action Partnership
January 29 2020 - 11:52AM
Dow Jones News
By Stephen Nakrosis
The Morgan Stanley Institute for Sustainable Investing on
Wednesday said it joined the Global Plastic Action Partnership, a
group working to reduce plastic waste and pollution around the
world.
The partnership "brings together businesses, international
donors, national and local governments, community groups and
world-class experts seeking circular solutions and address the
problems of plastic pollution in our environment," Morgan Stanley
said.
In April of last year, Morgan Stanley unveiled its Plastic Waste
Resolution, a firm-wide commitment to reduce plastic waste. The
company said its efforts would, by 2030, "prevent, reduce and
remove 50 million metric tons of plastic waste from entering our
rivers, oceans, landscapes and landfills."
Morgan Stanley is a Platform Member of the partnership, and said
joining was "a significant step" for its program.
"Recognizing that the challenge of plastic waste is a systemic
issue that requires innovation, business model optimization and
financing, Morgan Stanley is committed to working with diverse
stakeholders to help address the challenge," the company said.
The Global Plastic Action Partnership platform was launched at
the World Economic Forum Sustainable Development Impact Summit.
Morgan Stanley said it established the Institute for Sustainable
Investing "to lead work across our firm, with our clients, and with
academic institutions to help mobilize capital to sustainable
enterprises, via global markets and the investors who drive
them."
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
January 29, 2020 11:37 ET (16:37 GMT)
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