Monday 8 March 2021

Goldman Sachs commits to net zero emissions by 2030

Goldman Sachs has pledged to reach net zero carbon emissions, including across its supply chain, by 2030.

It has also made a commitment to align its financing activities with net zero emissions by 2050 and develop more comprehensive climate data and promote more through disclosure.

The investment bank is preparing to add carbon accounting of client portfolios to its investment application, Marquee, to help pension and endowment funds understand the climate impact of their decisions and empower them to take actions to decarbonise their portfolio.

Goldman Sachs intends to make its own progress in cutting greenhouse gas emissions public as well as ask clients to disclose more of their climate data, encouraging them to adopt the Sustainability Accounting Standards Board (SASB) and the Task Force on Climate-related Financial Disclosures (TCFD) frameworks.

It has committed to conduct an impact analysis of its activities and set interim business-related climate targets by the end of 2021.

David Solomon, Goldman Sachs Chairman and CEO said: “The challenge of climate change is massive; it cannot be addressed by one company alone. That is why we have long advocated for the United Stated to rejoin the Paris Agreement and are committed to delivering on its ambitious goals, including by aligning our financing activities with a net zero by 2050 pathway.

“We are committed to working with our clients, our industry peers and the public sector to make this commitment a reality. And while long term aspirations are important, business leaders must not lose sight of what we can do in the here and now to accelerate climate transition.”