Goldman Sachs becomes first US company to seize business opportunity

‘s Goldman Sachs has joined sibling initiatives EV100 and EP100 with ambitious commitments to electrify transport and deploy smarter energy use – making it the first US company to become a member of all three of The Climate Group‘s global corporate leadership initiatives to accelerate the clean energy transition.

The multinational investment bank was one of the first US companies to join RE100 and commit to 100% renewable power, during Climate Week NYC in 2015. This month’s RE100 Progress and Insights Annual Report shows it is already 96% of the way there, and on track to reach its 2020 goal.

Now stepping up to become an EV100 member, the multinational investment bank is also committed to installing electric vehicles (EV) charging stations at its owned office locations, with parking offered to full-time employees. In offices where Goldman Sachs is a tenant, it is committed to engaging with landlords to encourage EV charging installations and making it a criteria for site selection.

Goldman Sachs also joins EP100 through the Net Zero Carbon Buildings pathway, occupying and owning only assets that are net zero carbon by 2030. Making smarter use of energy will be crucial to reducing greenhouse gas emissions.

The financial services company plans to certify at least 70% of its building footprint through Leadership in Energy and Environmental Design (LEED) or equivalent green building standards, aiming to drive down energy consumption in line with its carbon neutrality strategy across its operations.

“As a global financial institution, we know we have a key role to play in deploying capital for clean energy solutions and have been at the forefront of this with more than $100 billion in clean energy financings and investments. We can also lead by example through our own operations,” said Dino Fusco, Global Head of Corporate Services and Real Estate, Goldman Sachs.

“That’s why, in addition to RE100, we are thrilled to join The Climate Group’s EP100 and EV100 initiatives – optimizing the energy efficiency of our buildings and installing electric vehicle charge points for our staff. We hope to inspire many more companies to follow suit.”

Amy Davidsen, Executive Director, North America, The Climate Group, welcomed the news: “Goldman Sachs was an early leader in committing to 100% renewable electricity across their global operations by 2020. Now by joining EV100 and EP100, they are further demonstrating their operational commitment to drive forward the clean energy transition and demonstrating the business case for climate action.”

She added, “We are about to begin the Climate Decade. With ten years left to halve greenhouse gas emissions to keep global warming to no more than 1.5DC (2.7DF), we need every major US company to go further and faster to shift toward a clean economy and ensure a more prosperous future.”

Earlier this year, a report by Accenture Strategy showed there are multiple business benefits for companies taking ambitious action on cleaner, smarter energy and transport – from lower energy costs and reduced exposure to risk to improved productivity and stakeholder trust.

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