We recognize that to serve our clients’ current and future needs, we have to mobilize capital to help mitigate global risks like climate change as well as promote opportunities for inclusive growth.
Morgan Stanley is deeply committed to supporting sustainability, promoting sustainable investing and focusing capital on the long term. We recognize that to serve our clients’ current and future needs, we have to mobilize capital to help mitigate global risks like climate change as well as promote opportunities for inclusive growth.
To harness the power of capital in creating positive change, we established the Morgan Stanley Institute for Sustainable Investing in 2013. The Institute works across all of Morgan Stanley’s businesses to accelerate widespread adoption of sustainable investing strategies — developing products, services and thought leadership to ensure investors can embrace sustainability principles. The Investing with Impact Platform that allows our wealth management clients to align financial goals with their values has been instrumental in our efforts. At $6.3 billion in assets under management in 2016, it is more than half way toward our 2018 $10 billion goal for the platform1. Additionally, Morgan Stanley also served as lead or joint bookrunner on Green Bonds totaling more than $6 billion in 2016.
At Morgan Stanley, we endeavor to embed environmental, social and governance considerations into the way we conduct our business. To that end, we have reduced our greenhouse gas emissions by 35 percent per square foot of office space since 2006. Furthermore, in 2016 we added a fuel cell to our headquarters in Times Square, demonstrating that clean energy can be produced in dense urban areas.
We also aim to contribute to inclusive growth through thought leadership and giving back to our communities. For instance, in 2016, our equity research team demonstrated that firms with better gender diversity performance can deliver returns with lower volatility. This supports the view that addressing inequalities in the marketplace can be good for business. Furthermore, since 2010, we have committed more than $13.3 billion in community development investments that have funded more than 73,500 affordable housing units and created or retained more than 80,000 jobs.
Our commitment to sustainability embodies the firm’s core values: Putting Clients First, Leading with Exceptional Ideas, Doing the Right Thing and Giving Back. Looking to the future, I am optimistic that we will continue our focus on building an inclusive, sustainable economy.
1. $6.3 billion in Morgan Stanley Wealth Management assets allocated to products approved for the MOrgan Stanley Investing with Impact Platform.