Morgan Stanley

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Second-Party Opinion
Morgan Stanley
Sustainable Issuance Framework

Evaluation Summary
Sustainalytics is of the opinion that the Morgan Stanley Sustainable Issuance
Framework is credible, impactful and aligned with the Sustainability Bond Guidelines
2021, Green Bond Principles 2021 and Social Bond Principles 2023. This assessment
is based on the following:

USE OF PROCEEDS The eligible categories for the use of proceeds –
Renewable Energy, Energy Storage,...