Morgan Stanley Investors Vote Down Clean-Energy Financing Bid

Morgan Stanley shareholders rejected proposals Thursday asking the company to disclose how its fossil-fuel and low-carbon energy financing compare, and seeking more transparency around the bank’s lobbying activities.

The New York City Employees’ Retirement System said its bid for the bank to develop and share a clean-energy financing ratio was aimed at providing investors with a standardized, overarching view of the bank’s support for the transition from fossil fuels to renewable energy. Moving away from fossil fuels is a priority under the Biden administration’s environmental policy.

Similar proposals failed earlier this spring at peer megabanks Goldman Sachs and Bank of ...