Investment bank Morgan Stanley said on Thursday it had decided to leave the Net-Zero Banking Alliance, becoming the latest U.S. lender to quit the sector's top global climate coalition.

Morgan Stanley on Thursday announced its departure from a coalition of banks that aims to target net-zero emissions through lending and investment, the fifth group to do so in recent weeks.

Morgan Stanley terminated its membership of a major climate-banking group, joining a wave of Wall Street firms that recently quit a global alliance intended to aid the reduction of greenhouse-gas emissions.

Morgan Stanley is the latest financial institution to leave the Net-Zero Banking Alliance. Citigroup and Bank of America left on Tuesday. Goldman Sachs Group and Wells Fargo departed in December.