Morgan Stanley is the latest financial institution to leave the Net-Zero Banking Alliance. Citigroup and Bank of America left on Tuesday. Goldman Sachs Group and Wells Fargo departed in December.

Investment bank Morgan Stanley said on Thursday it had decided to leave the Net-Zero Banking Alliance, becoming the latest U.S. lender to quit the sector's top global climate coalition.

Morgan Stanley terminated its membership of a major climate-banking group, joining a wave of Wall Street firms that recently quit a global alliance intended to aid the reduction of greenhouse-gas emissions.

Bank of America, Citigroup, Wells Fargo and Goldman Sachs have also withdrawn from the Net-Zero Banking Alliance in the past month, as President-elect Donald Trump prepares to take office.

Morgan Stanley has quit Mark Carney’s net zero banking group, joining a broader Wall Street exodus as Donald Trump prepares to re-enter the White House.

Morgan Stanley on Thursday announced its departure from a coalition of banks that aims to target net-zero emissions through lending and investment, the fifth group to do so in recent weeks. “Morgan Stanley has decided to withdraw from the Net-Zero Banking Alliance.

Morgan Stanley has become the latest major Wall Street bank to withdraw from a key climate banking coalition, following similar moves by Citigroup and Bank of America earlier this week

A major green banking group is in trouble after Morgan Stanley announced its exit, joining a long list of big banks to leave the group before President-elect Donald Trump takes office. Morgan Stanley said Thursday it would depart from the Net-Zero Banking Alliance,