Goldman Sachs to Join Net Zero Banking Alliance
NEW YORK, October 25, 2021 - Today, Goldman Sachs announced it has joined as a signatory to the Net Zero Banking Alliance (NZBA). This announcement marks the firm’s ongoing commitment to work with industry peers, clients and policymakers to deliver in the transition to net zero.
“Fantastic that Goldman Sachs is joining the Net Zero Banking Alliance and GFANZ, the gold standard for net zero commitments. By joining, Goldman will work with its corporate clients, investors, fellow GFANZ members and the public sector to translate climate ambition into action that will reduce emissions while growing our economies. Goldman’s commitment, expertise and capital will make powerful contributions to driving the transition to a net zero economy,” said Mark Carney, the UN Special Envoy and Chair of the Glasgow Financial Alliance for Net Zero.
David Solomon, Chairman and CEO of Goldman Sachs, said: “Collaboration will be an essential part of achieving the goal of a net zero economy and the NZBA, with its industry-led platform, has an important role to play in facilitating decarbonization and effective capital allocation to the real economy. For us to succeed, the efforts of businesses and markets must be matched with sound public policy that balances current energy capabilities with support for new technologies and innovation.”
Goldman Sachs supports sustainable economic growth and financial opportunity – this is foundational to the firm’s work on net zero where growth capital is needed to support the transition to a lower carbon economy. Our commitment to net zero starts with a focus on the impact to the real economy and identifying commercial opportunities to facilitate climate transition alongside our clients. This includes our $750 billion sustainable finance commitment, of which we have already achieved over $150 billion, and identifying innovative ways to scale climate finance including a recently launched Climate Innovation Fund to invest in low carbon solutions in developing markets alongside Bloomberg and the Asian Development Bank.
The Goldman Sachs Group, Inc. is a leading global financial institution that delivers a broad range of financial services across investment banking, securities, investment management and consumer banking to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.
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