Morgan Stanley
MS
Financials
2
exclusion reasons
2 themes
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Morgan Stanley has faced SEC enforcement for cybersecurity failures and inadequate protection of client data, resulting in a 2024 settlement. The bank has a recurring pattern of regulatory actions for internal controls and disclosure violations.
Morgan Stanley is a significant financier of the fossil fuel industry. According to the Banking on Climate Chaos reports (Rainforest Action Network et al.), Morgan Stanley has provided more than $183 billion in cumulative fossil fuel financing since the 2016 Paris Agreement, making it the 15th largest private financier of fossil fuels globally. The bank is also the 6th largest financier of fracked methane gas. From 2022 to 2023, Morgan Stanley increased its annual fossil fuel financing from $14.7 billion to $19.1 billion, despite its public 2021 commitment to reach net-zero financed emissions by 2050. Morgan Stanley remains among the top U.S. banks dominating the fracking sector alongside JPMorgan Chase, Wells Fargo, Bank of America, Goldman Sachs, and Citigroup.
Research Sources
1 organization
Related Exclusions
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The Naughty List
A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.