Goldman Sachs

InfluenceMap Score
C
Performance Band
63%
Organisation Score
n/a
Relationship Score
Sector:
Financials
Head​quarters:
New York, United States
Brands and Associated Companies:
Goldman Sachs Asset Management
Official Web Site:
Wikipedia:

Climate Lobbying Overview: Goldman Sachs appears to have limited engagement with climate policy, with broadly positive top-line messaging.

Top-line Messaging on Climate Policy: In the company’s Environmental Policy Framework, accessed in April 2022, Goldman Sachs clearly accepts the science of the IPCC. In its 2020 Sustainability Report, the company discusses its own operational emissions reductions but does not clearly support IPCC demanded global emissions reductions. However, Goldman Sachs appears to support government regulation to respond to climate change in the Framework, noting “Governments can help the markets in this regard by establishing a clear policy framework that, among other things, provides transparency around the costs of greenhouse gas (GHG) emissions.” It was also reported by Fortune in September 2020 that Goldman Sachs endorsed a report directly calling for government regulation to respond to climate change. In March 2021, a statement from CEO David Soloman posted on the company’s corporate website stated that the company had “long-advocated for the United States to rejoin the Paris Agreement.”

Engagement with Climate-Related Regulations: Goldman Sachs has not disclosed its positions on or engagement with specific climate policies.

Positioning on Energy Transition: Goldman Sachs offers top-line support for the transition of the energy mix, although it may support a continued role for fossil fuels that is misaligned with IPCC recommendations. In its 2021 ‘Accelerating the Transition’ report, the company stated support for the transition to a low-carbon economy. However, in its Environmental Policy Framework, accessed in 2022, the company appears to support a long-term role for fossil fuels, stating “For the foreseeable future, carbon-intense energy sources will continue to be part of the global energy mix but will face increasing policy and regulatory constraints.” Similarly, in a November 2021 Bloomberg report, CEO David Solomon reportedly emphasized that the energy transition will take time. In its 2021 CDP climate change disclosure, the company appears to offer broad support for policy to facilitate the financing of the energy transition, and adds that it has engaged with policymakers on climate and energy policy, but does not disclose any further details.

Industry Association Governance: Goldman Sachs has not disclosed its industry association memberships. In its 2022 political statement, it stated that a comprehensive report on memberships is conducted annually, but this report does not appear to be public. Goldman Sachs also did not disclose its industry association engagement in its 2021 CDP response. Nevertheless, its CEO is a member of the Business Roundtable, an association that holds mixed positions on US climate policy.

QUERIES
DATA SOURCES
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Strength of Relationship
STRONG
 
 
 
 
 
 
 
WEAK
 
57%
 
57%
 
52%
 
52%

How to Read our Relationship Score Map

In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.