Goldman Sachs makes surprise exit from major climate banking group
Wall Street giant Goldman Sachs leaves key climate-focused banking coalition while keeping its green targets. Bank confirms it will stick to sustainability goals and continue reporting on eco-friendly progress
Goldman Sachs made a non-standard move last winter by stepping away from the Net-Zero Banking Alliance (a group that links banks climate goals with world-wide green efforts)
The wall-street powerhouse didnt give a clear reason for its exit but pointed to new-age regulatory demands: focusing on world-wide rules about eco-reporting became their main thing. The move comes when some GOP leaders think such groups might break anti-trust rules
About five years ago Goldman set up a big-time green money target - they wanted to put $750B into earth-friendly deals by 2030; theyʼve already done most of it (reaching bout 75% in their last years report)
We need to do both. Its not an or‚ its an and
The bank keeps its eco-friendly path going with these main points:
- Working with clients on green goals
- Watching and sharing progress reports
- Setting up targets for different business areas
- Supporting both regular energy and clean-tech growth
Earlier in the same year‚ Goldmanʼs investment division also left another climate group - showing a pattern in how big-money firms deal with green politics nowadays. Some other money-giants are getting sued by Texas and other red states about these kind of group memberships
