US banking giant shakes UN-led ‘Net-Zero Banking Alliance’
The Goldman Sachs logo is seen at the New York Stock Exchange during morning trading in New York City, US, on Aug. 25, 2023. (AFP Photo)
Goldman Sachs, a U.S.-based global bank, has withdrawn from the United Nations (U.N.)-backed “Net-Zero Banking Alliance,” which was established under the leadership of global banks.
In a statement regarding the decision, the bank said: “We possess the necessary capabilities to achieve our goals and support our clients’ sustainability objectives.”
The statement highlighted that Goldman Sachs remains focused on the rising sustainability standards and reporting requirements imposed by regulators worldwide.
“In recent years, we have made significant progress towards our net-zero goals and hope to achieve further advancements in the coming months, including expanding into additional sectors,” the bank noted.
The bank emphasized that assisting clients in reaching their sustainability targets and reporting progress are among its top priorities.
The “Net-Zero Banking Alliance” comprises leading global banks committed to aligning their lending, investment, and capital market activities with net-zero greenhouse gas emissions by 2050.
Launched in April 2021, the alliance now has 145 members from 44 countries, with a combined total asset value of $74 trillion.
