Big Investors and the Young Nudge Morgan Stanley Toward Sustainable Investing
Friday, November 22, 2013
Some of the biggest names in institutional finance are starting to bank on sustainability.
Morgan Stanley this month announced a five-year goal of $10 billion in client assets for its “investing with impact” program, which offers investors a range of products targeting social responsibility and environmental sustainability. The company also said it would put $1 billion of its own money toward a “sustainable communities” initiative to preserve affordable housing that is at risk of becoming either too run-down or too expensive.
A few days later, Goldman Sachs said that it is raising a $250 million “social impact fund” to invest in affordable housing, health clinics and schools for disadvantaged communities.