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David Solomon, chief executive of Goldman Sachs, recently wrote an editorial in the Financial Times in which he laid out the premise behind a $750 billon plan for a decade of investing, financing, and advisory activity that will exclusively cover nine climate-critical areas such as renewable energy, sustainable agriculture, and carbon reductions.
With this move, Goldman Sachs becomes the first major U.S. bank to prohibit financing for Arctic oil drilling and the first to establish explicit limits on financing for the oil and gas sector.
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Solomon and Goldman Sachs believe that transportation, the largest carbon-emitting sector of the world economy, must absolutely be a priority, while also mentioning affordable education and retraining investments, and investments in sustainable agriculture—the details of which he didn’t mention in his short piece.
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Important in their investing blueprint is a focus on climate goals that have definable and measurable metrics. This will allow Goldman Sachs partners to accurately track environmental progress of such pathways as well as the financial growth potential and measurable returns, which Solomon insists must be a primary focus.
“…capital must be deployed to those opportunities that have the greatest potential for success, and we must generate strong returns on invested capital to serve those saving for retirement,” writes Solomon in the FT. This is because retirement is a vitally important source of investment capital, and is one of the most reliable metrics for economic strength.
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An excerpt from
– 20.01.13 (Mon.)
1. Federer responds to climate change critics over Credit Suisse links – BBC News
https://www.bbc.com/news/world-europe-51082875
2. 「政府には気候変動の危機から国民を守る義務がある」 オランダ最高裁の画期的な判決
https://headlines.yahoo.co.jp/hl?a=20200112-00000022-mai-int
– 20.01.14 (Tue.)
1. Climate change to be key element in next Canadian budget -finance minister
2. JoinTheCountdown TEDが気候変動を注意喚起する特設サイトをオープン
– 20.01.15 (Wen.)
1. Scott Morrison to focus on ‘resilience and adaptation’ to address climate change
2. ＥＵ、気候変動に１２２兆円 温室ガス「ゼロ」へ計画
– 20.01.16 (Thu.)
1. The Reason Fossil Fuel Companies Are Finally Reckoning with Climate Change
https://time.com/5766188/shell-oil-companies-fossil-fuels-climate-change
2. オランダの気候変動訴訟、世界の環境活動の手本に
https://forbesjapan.com/articles/detail/31800
1. Even Ultra-Tough Water Bears May Be Vulnerable to Climate Change | WIRED
https://www.wired.com/story/water-bears-climate-change
2. 英中銀総裁、COP26の首相顧問に 金融対応へ音頭
https://www.nikkei.com/article/DGXMZO54495670X10C20A1000000
– 20.01.18 (Sat.)
1. Children and Teen’s Climate Change Lawsuit Dismissed by U.S. Court – The New York Times
2. [FT]過去10年「人為的な気候変動」で記録的暑さに
https://www.nikkei.com/article/DGXMZO54501580X10C20A1000000
– 20.01.19 (Sun.)
1. Goldman Sachs Unveils $750 Billion Climate Plan For Investing in Solutions, and Vows Never to Support Arctic Drilling
2. 展示車に血!? ベルギーのモーターショーで「絶滅への反逆」が抗議 写真11枚 国際ニュース：AFPBB News
https://www.afpbb.com/articles/-/3264150