(26 April 2023 – United States) A resolution filed by shareholders of Goldman Sachs is calling for the Bank to provide an actionable climate transition plan on how it plans to achieve its 2030 net zero greenhouse gas emission reduction goals.
The resolution is reportedly supported by 30 percent of shareholders, said As You Sow, which represents the shareholders.
Goldman Sachs has set 2030 reduction targets for its highest emitting portfolio sectors, including oil and gas, power, and auto-manufacturing.
The bank is also a member of the Net-Zero Banking Alliance, whose signatories have committed to aligning its lending and investment portfolios with the Paris Agreement’s net zero by 2050 goal.
“Although Goldman has committed to aligning key sectors of its financing portfolio with net-zero targets, its plan for achieving those goals is unclear,” said As You Sow President, Danielle Fugere.
“Goldman must put a plan in place that drives decision-making from the top down, starting with governance, and ending with banker decision-making on new financing. Reliance on clients or outside events is insufficient.”