Plastic waste is one of the world’s more pressing environmental challenges, which is why Morgan Stanley is leveraging our position in capital markets to mobilize capital for a circular economy. The Morgan Stanley Institute for Sustainable Investing leads our Plastic Waste Resolution—to help facilitate the prevention, reduction and removal of 50 million metric tons of discarded plastic from rivers, oceans, landscapes and landfills by 2030.
This commitment includes eliminating single-use plastic from our firmwide operations by 2024, relevant transactions that we facilitate for clients, partnerships with universities and nonprofits that advance the circular economy and capacity-building initiatives that are focused on supporting innovations across the plastics value chain.
Our Plastic Waste Reduction Progress
Since the start of the Plastic Waste Resolution in April 2019 through the end of 2021, Morgan Stanley has facilitated the prevention, removal and reduction of 13 million metric tons of plastic waste from entering the environment and landfills, or 26% of our 50 million metric tons by 2030 goal.
Goal: 50M Metric Tons by 2030
Transactions Helping Tackle Plastic Waste
In 2021, the firm’s Investment Banking and Global Capital Markets teams helped companies finance plastic waste reduction and recycling.
Since the start of the Plastic Waste Resolution in April 2019 through the end of 2021, Morgan Stanley has facilitated the prevention, removal and reduction of 13 million metric tons of plastic waste from entering the environment and landfills, or 26% of our 50 million metric tons by 2030 goal.
Increasing Post-Consumer Recycled Packaging: We served as joint bookrunner for Natura & Co.’s $1 billion sustainability-linked bond with performance targets tied to increased use of post-consumer recycled packaging and greenhouse gas emissions. Natura & Co., is the largest Latin American personal care cosmetics group with brands including Avon, The Body Shop and Natura Cosméticos.
Supporting Tire Recycling Projects: We served as lead arranger for Liberty Tire’s $410 million green term loan. The proceeds will finance projects including the sourcing, sorting, processing and distribution of used tires into multiple end-use markets that divert such used tires from otherwise being sent to landfills. Liberty Tire is the largest recycler of used car tires in the U.S.
Expanding the Second-Hand Clothing Marketplace: We served as joint underwriter for thredUP’s initial public offering, raising $193 million at a $1.6 billion valuation. Proceeds will support the expansion of thredUP’s clothing resale business, diverting synthetic materials from entering landfills.
Partnerships Advancing the Circular Economy
We work with business coalitions, NGOs and research organizations to combat the plastic waste crisis. Our work includes leading coalitions working to advance the circular economy, such as the World Economic Forum’s Global Plastic Action Partnership and the Ellen MacArthur Foundation network. Our ongoing partnership with the University of Georgia and Dr. Jenna Jambeck supports the Debris Tracker, a mobile app that harnesses citizen science to gather data on how plastic debris impacts coastlines and waterways.
For more detailed information about our Plastic Waste Resolution efforts, including work within our firmwide operations, partnerships and capacity building, see the firm’s most recent Sustainability Report.
To track our progress from previous years, see our 2019 and 2020 updates.
