Supporting the Low-Carbon Transition Our business units are on pace to meet our commitment to mobilize $250 billion to support low-carbon solutions by 2030. They are building expertise, supported by GSF and the Institute for Sustainable Investing, to serve our clients' growing interest in Environmental, Social, and Governance issues and in climate change specifically. Survey data from the Institute suggests rapidly accelerating interest in climate-focused solutions among asset managers, asset owners and individual investors. In response, we are developing accessible new products, such as Morgan Stanley Impact Quotient (see page 15). Our early work in 2013 in scaling green- bond financing has catalyzed new opportunities and continues to drive sector innovation in green and sustainable bonds.