Announcing the Formation of the Sustainable Finance Group
The following email was sent to all Goldman Sachs people today:
July 24, 2019
Formation of the Sustainable Finance Group
A commitment to deploying our expertise and position in the capital markets to help address issues that impact society has long been a core element of the firm’s culture. We believe that two significant long-term priorities are more inclusive economic growth and addressing climate change. Increasingly, these persistent and accelerating drivers represent a strategic growth opportunity and competitive necessity for our firm and our clients.
Across our businesses, we are seeing increasing opportunities to deliver leading sustainability and impact investing expertise to our clients across a broad range of growth themes. As a first step in that effort, we are pleased to announce the formation of the Sustainable Finance Group. This group will be responsible for partnering with our businesses to better serve our clients, drive innovation and capture emerging opportunities as sustainable growth becomes more top of mind for investors, institutions and companies around the world.
The group will be led by John Goldstein, who co-founded Imprint Capital, a dedicated sustainable investing firm acquired by Goldman Sachs Asset Management in 2015. Within the group, Kyung-Ah Park will continue to lead our environmental markets work and also drive innovative finance. Kara Succoso Mangone will serve as chief operating officer of the effort, leveraging her experience engaging with our global investor base on these issues.
The group’s efforts in delivering sustainable growth solutions for our clients will be guided and supported by a cross-divisional steering group comprising senior business leaders who are already engaged with our clients on these opportunities. This group will ensure effective coordination and drive a number of initiatives to provide our clients the most comprehensive sustainability expertise across financing, advisory, risk management, asset management and investing.
Our focus on identifying and executing on important sustainable growth opportunities will also further reinforce our existing efforts through Launch With GS, the Urban Investment Group, 10,000 Women and 10,000 Small Businesses, as well as our own internal operational sustainability initiatives.
In the months ahead, we will develop specific goals and objectives for our work in this area, and we look forward to our people’s collective input and contributions as we advance this strategic priority.
David M. Solomon
John E. Waldron
Stephen M. Scherr
Tel: +1 212 902 5400
Heather Kennedy Miner
Tel: +1 212 902 0300