Goldman Sachs Joins Net-Zero Banking Alliance Following Last Year’s Net Zero Target Announcement

FOR IMMEDIATE RELEASE

MEDIA CONTACT: Stefanie Spear, [email protected], 216-387-1609

BERKELEY, CALIFORNIA—OCT. 27, 2021—Goldman Sachs Monday announced it has joined as a signatory to the industry-led, United Nations-convened Net-Zero Banking Alliance. This follows a commitment Goldman Sachs announced in March to align its financing activities with a net-zero pathway by 2050, set interim targets by the end of 2021, and measure and disclose its progress in meeting those goals. The March commitment was made in response to a resolution filed by shareholder representative As You Sow.

Danielle Fugere, president of As You Sow, made the following statement:

“We welcome the announcement from Goldman Sachs that it will join more than 60 global banking peers in the Net-Zero Banking Alliance. Investors are working to ensure that all financial firms set 1.5C-aligned and interim targets, and develop transition plans with operational blueprints to immediately begin reducing investments in high carbon projects and companies. As long as banks continue financing carbon-intensive activities and sectors, we are very likely to continue on the path toward catastrophic 2.7-degree warming as outlined by a recent UN Framework Convention on Climate Change report. We look forward to Goldman providing industry-leading disclosure on its near-term emission reduction actions and a detailed implementation plan for meeting its net-zero goals.”

For more information on As You Sow’s work on climate change, click here.

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As You Sow is a nonprofit organization that promotes environmental and social corporate responsibility through shareholder advocacy, coalition building and innovative legal strategies. Click here to see As You Sow’s shareholder resolution tracker.