Wall Street Wakes Up to Sustainability: BlackRock Makes $7T Commitment; Goldman Sachs Pledges $750B
By admin January 24, 2020

Wall Street is finally waking up to Sustainability and Sustainable Finance & Investment. So, if you’re still denying science/climate change and living in a cave somewhere, you may want to digest the recent news from BlackRock. The world’s largest money manager is putting Climate Change/Sustainability at the center of its investment strategy with environmental sustainability as a goal.

As noted in news reports, BlackRock will divest from fossil fuel portfolios, invest $7T in Sustainability-focused finance activity and “make sustainability integral to portfolio construction and risk management; exiting investments that present a high sustainability-related risk; launching new investment products that screen fossil fuels; and strengthening the firm’s commitment to sustainability and transparency in its investment stewardship activities.”

Meanwhile, Goldman Sachs said that it “plans to spend $750 billion over the next decade financing and advising companies focused on sustainable finance themes such as climate transition and inclusive growth.” John Goldstein, who heads Goldman Sachs’ sustainable finance group, said: “There are large opportunities. There are large markets. When we see that, we see need, and we see opportunity. This is a large and accelerating trend. What do you do when you see that? You invest. You build your capabilities.”

This is a big wake-up call to the Financial community and yet another reminder that Global Business is finally waking up the the challenge and *opportunity* presented by Climate Change. Sustainability should be at the center of every company’s business strategy.

For more on BlackRock’s news, click here.

For more on Goldman Sachs’ news, click here.

#climatechange #sustainability #cleantech #sustainabledevelopment  #sustainablefinance #circulareconomy #esg #sustainable #impactinvesting #renewableenergy #fossilfuels #energy #stewardship #SRI #CSR #socialresponsibility #transparency #blackrock #investment #goldmansachs


Thanks for sharing !

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