Morgan Stanley has closed it inaugural green bond offering that will finance various renewable energy and energy efficiency projects, the New York City-based financial services giant announced on Tuesday.
The US$500-million green bond is the latest step in company’s ongoing strategy to pursue market-driven solutions to social and environmental challenges.
The projects that are selected for funding will be selected in line with a green bond framework that was developed by the firm, Morgan Stanley says, in order to ensure high levels of transparency, disclosure and verification.
“Our work as an underwriter of green bonds has already helped direct billions of dollars towards environmentally and socially responsible projects,” says Celeste Mellet Brown, global treasurer at the firm, “and it is rewarding to now issue our own green bond supporting projects that generate positive environmental impact.”
Since 2013, Morgan Stanley has led 27 green bond transactions, which have raised over US$15 billion.