Public health emergencies, social and economic inequality and the ramifications of climate change stand among the most immediate and pressing global issues of our time. In response, governments, corporations and investors have rallied around sustainability efforts, not only to preserve our planet for current and future generations, but also to improve the standard of living for diverse communities.

Morgan Stanley has been a leader in prioritizing environmental, social and governance (ESG) practices for more than a decade. Now, the firm has pledged to mobilize at least $750 billion of low-carbon solutions, tripling our original commitment set in 2018. This enhancement is part of a larger goal to facilitate $1 trillion of sustainable solutions by 2030 that support the United Nations’ Sustainable Development Goals—a scale of capital that reflects the growing severity and urgency of these global challenges.

Morgan Stanley also joined the United Nations-convened Net-Zero Banking Alliance, which coordinates 43 of the world’s leading banks to accelerate the transition to net zero, a state in which the amount of carbon produced is offset by the amount removed from the atmosphere. The alliance provides a common framework for banks to set, communicate and achieve 2050, 2030 and nearer-term targets, and engage with clients on decarbonization efforts.

“The convergence of recent crises in climate, health and social justice underscore the interconnections between environmental, societal and structural issues. It is imperative for business and finance to accelerate our efforts to drive positive global, systemic change,” says Audrey Choi, Morgan Stanley’s Chief Sustainability Officer and CEO of the Institute for Sustainable Investing. “We are tripling our low-carbon commitment and increasing our efforts to achieve the Sustainable Development Goals for the simple reason that there is no time to waste. As a leader in sustainable finance, it is our obligation to do more to support businesses, governments and individuals in securing a more sustainable world for future generations.”

To reach our $1 trillion target, we will work with corporations, governments and individuals to provide clean tech and renewable energy finance, green bonds and other transactions. In the first two years of our commitment, we have so far mobilized $80 billion for low-carbon financing.