Wednesday
January 15
2020

‘Green Is Good.’ Is Wall Street’s New Motto Sustainable?

By Chris Taylor

If you have gone to Goldman Sachs Group Inc’s internet home page since mid-December, it would be reasonable to wonder if you had stumbled into some kind of parallel universe.

Visitors are met with a background of lush greenery, along with a banner headline: “Our Commitment to Sustainable Finance.”

The company recently announced a $750 billion, 10-year initiative in nine different areas such as clean energy, affordable education and accessible healthcare, and overhauled lending policies to exclude ventures like new Arctic drilling.

At first glance it might seem like the famously hard-charging Wall Street investment bank was feeling, well, not quite itself.

After all, Goldman Sachs has not always endeared itself to critics of Wall Street. One journalist, Matt Taibbi, famously called it the “Vampire Squid,” with its arms “wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.”

Photo courtesy of GotCredit.

Source: Reuters (link opens in a new window)

Categories
Investing
Tags
ESG investing, impact finance, impact investing, sustainable finance