We have expanded the list of climate policies we assess company engagement with to incorporate land-use related policy, referring to legislative or regulatory measures to enhance and protect ecosystems and land where carbon is being stored. Assessments under this category are currently underweighted in terms of their contribution to the overall company metrics. This weighting will be progressively increased over the next 6 months.
We adjusted the terminology used to describe the queries running down the left-hand side of our scoring matrix and added additional explanatory text to the info-boxes. This has no impact on the scores and methodology. It has been done following user feedback to improve clarity.
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Thalia Chryssikou is the Chair of AFME board of directors
Thalia Chryssikou (Goldman Sachs, Head of Global Structuring and Sales Strats)
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Thalia Chryssikou is on the AFME board of directors
Thalia Chryssikou (Co-head of Global Sales Strats & Structuring across FICC and Equities, Goldman Sachs)
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Thalia Chryssikou is the Chair of AFME board of directors
Thalia Chryssikou (Goldman Sachs, Head of Global Structuring and Sales Strats)
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Thalia Chryssikou is on the AFME board of directors
Thalia Chryssikou (Co-head of Global Sales Strats & Structuring across FICC and Equities, Goldman Sachs)
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
As of August 2022, Goldman Sachs is a board member of the MFA
Kevin Kelly (Global Co-Head, Prime Services)
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Goldman Sachs is a strategic partner of the MFA. Unclear whether Goldman Sachs still holds a board membership, as MFA no longer discloses its board.
not specified
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Marc Rothenberg is on the MFA board
Marc Rothenberg (Managing Director, Goldman Sachs)
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
As of August 2022, Goldman Sachs is a board member of the MFA
Kevin Kelly (Global Co-Head, Prime Services)
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Goldman Sachs is a strategic partner of the MFA. Unclear whether Goldman Sachs still holds a board membership, as MFA no longer discloses its board.
not specified
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Marc Rothenberg is on the MFA board
Marc Rothenberg (Managing Director, Goldman Sachs)
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Goldman Sachs is a member of ICI
not specified
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
James McNamara is on the Board of ICI.
James A. McNamara (President, Goldman Sachs Mutual Funds)
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Goldman Sachs is a member of ICI
not specified
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
James McNamara is on the Board of ICI.
James A. McNamara (President, Goldman Sachs Mutual Funds)
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Goldman Sachs is a member of SIFMA
not specified
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
John F. W. Rogers is on the board of SIFMA.
John F. W. Rogers (Executive Vice President, Goldman Sachs)
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Goldman Sachs is a member of SIFMA
not specified
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
John F. W. Rogers is on the board of SIFMA.
John F. W. Rogers (Executive Vice President, Goldman Sachs)
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
In October 2022, David Solomon was the Financial Services Forum Chairman. In January 2023, Solomon was replaced by State Street's Ron O'Hanley.
David Solomon (Chairman and CEO, Goldman Sachs)
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
In October 2022, David Solomon was the Financial Services Forum Chairman. In January 2023, Solomon was replaced by State Street's Ron O'Hanley.
David Solomon (Chairman and CEO, Goldman Sachs)
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
As of November 2022, Goldman Sachs is a member of the American Bankers Association.
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
As of November 2022, Goldman Sachs is a member of the American Bankers Association.
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Goldman Sachs Asset Management International and NN Investment Partners are members of the Investment Association
not specified
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Goldman Sachs Asset Management International and NN Investment Partners are members of the Investment Association
not specified
InfluenceMap Data Point on Corporate - Influencer Relationship
NN Investment Partners, acquired by Goldman Sachs is a member of PensioPlus, the Belgian member association of PensionsEurope.
not specified
InfluenceMap Data Point on Corporate - Influencer Relationship
Goldman Sachs is a member of PensionsEurope. Goldman Sachs does no longer appear to be a member of PensionsEurope.
not specified
InfluenceMap Data Point on Corporate - Influencer Relationship
NN Investment Partners, acquired by Goldman Sachs is a member of PensioPlus, the Belgian member association of PensionsEurope.
not specified
InfluenceMap Data Point on Corporate - Influencer Relationship
Goldman Sachs is a member of PensionsEurope. Goldman Sachs does no longer appear to be a member of PensionsEurope.
not specified
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
As of November 2022, Goldman Sachs is a member of UK Finance which is a national association member of EBF
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
As of November 2022, Goldman Sachs is a member of UK Finance which is a national association member of EBF
not specified
--no extract--
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.
Open PDF file of Data Source
Open PDF file of Data Source
Open PDF file of Data Source
Sustainable Finance Lobbying Overview: Goldman Sachs appears to have had limited and unclear direct engagement with sustainable finance policies, while communicating some support for regulated corporate ESG disclosures and opposition to stringent ESG taxonomies and standards.
Top-Line Messaging on Sustainable Finance Policy: Goldman Sachs has stated support for the Paris Agreement including action to keep temperature rise to 1.5C, and in October 2021 it joined the Net Zero Banking Alliance, signaling support for the goal of a net zero economy. CEO David Solomon has stated support for the goals of the Paris Agreement but in October 2021 stated support for continued financing of fossil fuel companies. In a 2018 blog post Goldman Sachs suggested that a market-led response to sustainable finance would be more effective than regulation, and its 2018 and 2019 CDP responses appear to support some regulation on sustainable finance while emphasizing a market-driven response. In both its 2021 CDP response and 2021 Sustainability Report Goldman Sachs mentions engaging with policymakers on greening the financial system, but details of this engagement are unclear. A Goldman Sachs Asset Management insights report from August 2022 suggests support for certain sustainable finance regulations to incentivize the transition to a low-carbon economy.
Position on Regulated Corporate ESG Disclosure: In April 2022, Goldman Sachs Asset Management's global head of stewardship told the Wall Street Journal that Goldman's voting framework is "very supportive of the SEC's proposed climate risk disclosure rules," suggesting support for the proposal. An insights report from February 2022 appears to support the need for policy to enhance disclosures in APAC to keep up with international ESG policy developments. A September 2022 memo regarding a meeting between banks and the Securities and Exchange Commission (SEC) suggests that Goldman Sachs does not support aspects of the SEC’s proposed climate disclosure rule, outlining concerns with implementation and cost.
Position on Taxonomies and ESG Standards/Labels/Benchmarks: Goldman Sachs appears to have a more negative position on taxonomies and ESG standards. In a 2021 webinar Goldman Sachs stated support for the common language an EU Taxonomy would create but warned against it being overly stringent. In a January 2022 insights report, Goldman Sachs supported the weakening of EU Taxonomy criteria to include natural gas and in a February 2022 insights report it suggested that concerns of greenwashing following the inclusion of gas in the taxonomy were “overdone.”
Position on Incorporating ESG Factors Into Investor Duties: Goldman Sachs’ 2021 CDP Report states support for government action to push institutional investors to integrate ESG factors into investment decision-making. However, Goldman Sachs’ position on and engagement with specific policies to achieve this, including the EU’s Sustainable Finance Disclosure Regulation and the US Department of Labor’s proposed Prudence and Loyalty rule, is unclear.
Industry Association Governance: In its Statement on Policy Engagement and Political Participation, Goldman Sachs discloses just three trade associations to which it holds membership. Goldman Sachs Asset Management lists other memberships in reports across its website. Neither Goldman Sachs nor its asset management arm describe the sustainable finance policy positions of these associations or any details of their policy engagement.