Goldman Sachs Group Inc. plans to reduce the carbon footprint of its fossil-fuel clients by a fifth, and slash emissions in other key customer groups as it acts on a pledge to make its business climate neutral by mid-century.
By 2030, the Wall Street firm intends to have lowered the financed emissions of oil and gas companies by up to 22%, compared with a 2019 baseline, it said Thursday. For auto-manufacturing clients, the goal is as much as a 54% reduction, and for power-sector customers it’s up to 65%.
“We’re making progress,” Goldman Chief Executive Officer David Solomon said in Thursday’s statement. “A more sustainable future is within reach, and Goldman Sachs is determined to do our part to help the world get there.”
Goldman said its efforts to reduce emissions via loans and debt underwriting focus on industries in which it sees “an opportunity to proactively engage our clients, deploy capital required for transition, and invest in new commercial solutions to drive decarbonisation in the real economy.”
Do you agree?
113 more agrees trigger social media ads
We Don't Have Time
•
•
•
169 w
Dear Simon Bergbom
Thank you for getting your climate love to level 2! We have reached out to Goldman Sachs and requested a response. I will keep you updated on any progress! /Adam We Don't Have Time
SANJAY JAGTAP
•
169 w
Good beginning by a responsible investor.. Wish them a good luck
Connor Lascelles
•
170 w
They should use @Qarnot to make their servers low carbon
Thomas Tienso
•
•
170 w
Very good.
Good enough to be one of the investment bank winners? The percentage fossil founded part is large. How will the market look upon their ambition?
And together we've planted over 150,000 trees. One tree is planted for every climate review written to an organization that is Open for Climate Dialogue™.
How does this work?
The Climate Action App
We plant a tree for every new user
Welcome, let's solve the climate crisis together
Write or agree to climate reviews to make businesses and world leaders act. It’s easy and it works.
•
•
•
169 w
Dear Simon Bergbom Thank you for getting your climate love to level 2! We have reached out to Goldman Sachs and requested a response. I will keep you updated on any progress! /Adam We Don't Have Time
•
169 w
Good beginning by a responsible investor.. Wish them a good luck
•
170 w
They should use @Qarnot to make their servers low carbon
•
•
170 w
Very good. Good enough to be one of the investment bank winners? The percentage fossil founded part is large. How will the market look upon their ambition?
•
•
170 w
Truly encouraging!