Morgan Stanley launch global commitment to reduce plastic waste

Written by: Jo Gallacher | Published:
More than 75% of plastic manufactured each year is thrown away

Global financial services firm Morgan Stanley will develop systemic solutions to tackle the global challenge of growing amounts of plastic waste.

Its Plastic Waste Resolution will engage stakeholders to form closer links when designing, innovating, financing and employing effective solutions in order to use the benefits of plastic without causing waste.

More than 75% of plastic manufactured each year is thrown away with the majority ending up in rivers, oceans, landscapes and landfills.

Tom Nides, vice chairman at Morgan Stanley, said: “We are committed to leveraging our best thinking; our broad capital markets reach; our relationships with innovators, entrepreneurs, corporations and governments; and our ongoing commitment to our communities to address this daunting challenge at a systemic level.”

Among its first commitments, the firm said its Capital Markets arm will underwrite bonds, such as the Sustainable Development bond with the World Bank which highlights to investors the work being done to reduce waste.

It will also support early stage technology through its Innovation Labs, offer low minimum portfolio strategies across the risk spectrum and help to develop products which consider both the risks and opportunities from plastic waste.

By 2030, Morgan Stanley hopes these efforts will prevent at least 50m tons of plastic waste from entering rivers, oceans and landfills.

Morgan Stanley provides investment banking, securities, wealth management and investment management services.

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