MS Morgan Stanley

   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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