Morgan Stanley – Interim Target A

…Translated into carbon terms, these commitments cover 100% percent of our Scope 1 + 2 (market-based) emissions, and they will result in an absolute reduction of more than 90% from our base year 2012 emissions c4 https://www.morganstanley.com/pub/content/dam/msdotcom/about-us/giving-back/sustainability-at-morgan-stanley/Morgan_Stanley_2020_CDP_Submission.pdf target year: 2022 – so 90% emissions reduction with a bit of carbon offsetting to close the gap

• Interim Target Baseline Year: 2012