Commercial, GHG Emissions - December 17, 2021
Goldman Sachs Sets 2030 Targets
The Goldman Sachs Group set new targets for 2030 in sectors where the investment bank sees opportunities to partner with its clients to drive decarbonization in the real economy. The announcement comes with the release of “Accelerating Transition,” its 2021 Task Force on Climate-Related Financial Disclosures (TCFD) Report. The report provides an update on the firm’s comprehensive framework for addressing the impacts of climate change and the transition to a low-carbon economy.
Following Goldman Sachs’ commitment to align its financing activities to a net zero 2050 pathway, announced in March 2021, these 2030 targets were established for the oil and gas, power, and auto manufacturing sectors based on their materiality to global emissions to the company’s own business and the availability of sufficient data to engage with clients in a meaningful way. These targets cover Goldman Sachs’ corporate lending commitments, debt and equity capital markets financing, and on-balance sheet debt and equity investments, presenting a significant opportunity for the firm to help advance the transition and play its part in delivering a more sustainable future for all.
“As a financial institution, we believe we can achieve the greatest impact in advancing the climate transition by partnering with our clients across our business,” said David Solomon, CEO of Goldman Sachs, said in a statement. “Whether it’s by developing new sustainability-linked financing solutions, offering world-class strategic advice, or co-investing in cutting-edge clean energy companies, we’re constantly innovating and expanding new commercial capabilities to accelerate our clients’ transition. This will take time and require thoughtful public policy, along with the private and public sectors working together to achieve a more sustainable future.”