Commercial, Energy Efficiency, GHG Emissions, Sourcing Renewables - December 16, 2019
Goldman Sachs releases 2025 sustainability commitments
Goldman Sachs released Dec. 16 their complete list of 2025 sustainability goals, including a promise to reduce energy intensity by 20% since 2017 and procure 80% renewable energy from their long-term agreements.
While they have achieved their carbon neutrality goal, the investment bank also committed to progressing toward 100% renewable global electricity and to extending Scope 3 carbon neutrality to its operations in business travel, including hotel night stays. Their commitment to sustainable business travel also includes a green traveler program for employees to minimize the impact of business travel.
The agreements under renewable energy targets include PPAs and on-site generation. In a description of their social responsibility philosophies, Goldman Sachs said they will be targeting $2 billion in green operational investments by 2020.
Goldman Sachs further announced it will provide $750 billion in financing, advisory services and investments for initiatives that fight climate change.
This news follows the announcement on Dec. 12 of Goldman Sachs committing to all three of The Climate Group’s global corporate leadership initiatives around clean energy, including EV100 and EP100 in addition to RE100.
Sustainability in the supply chain includes a commitment from the company to assess 100% of their global vendors for corporate responsibility risks and increase spend with diverse vendors by 50% from a 2020 baseline. Additionally, Goldman Sachs also committed to achieving 70% LEED Gold or equivalent building certification and to certifying 100% of their operational controlled spaces to the ISO 14011 standard.