Global financial services firm Morgan Stanley is launching a sustainability accelerator to support innovators protecting the environment.
The Morgan Stanley Sustainable Solutions Accelerator will be set up to identity innovations focused on systemic change for sustainability.
In its first year, the new programme will select five breakthrough innovations tackling major global sustainability challenges, each of which will receive a $250,000 Sustainable Solutions Innovation Award to develop and help scale the solution.
Innovators will also participate in a year-long, strategic partnership with experts at the Institute for Sustainable Investing where they will have access to the full range of Morgan Stanley’s expertise, networks and innovative solutions to help them achieve scale and sustained impact.
After the initial year, the innovators will become part of the Morgan Stanley Sustainable Solutions Collaborative, a group of leaders focused on helping solve some of the world’s most pressing sustainability challenges.
“The challenges that have come to the forefront this year exposed just how urgently we need to address structural issues in societal and environmental design,” said James Gorman, Morgan Stanley CEO and chair of the Institute for Sustainable Investing Advisory Board. “The Sustainable Solutions Accelerator represents Morgan Stanley’s latest commitment to help scale the solutions that drive positive, sustainable and systemic change, and builds on the longstanding work of our Institute for Sustainable Investing.”
Audrey Choi, Morgan Stanley’s chief sustainability officer and CEO of the Institute for Sustainable Investing, added, “Whether the challenge is climate change, social justice or plastic waste reduction, we cannot drive global, systemic change if we persist in business-as-usual thinking. Now is the time to support holistic solutions that will become the next frontier in sustainable investing.”
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