Energy Efficiency, Commercial, Wind  -  April 30, 2018

Goldman Sachs at 95% of 2020 RE Goal

Goldman Sachs is at 95% of its 100% renewable energy goal for 2020, according to the company’s 2017 Environmental, Social and Governance Report.

The report noted additional progress on the company’s 2020 goals set as part of their 2-15 Environmental Policy Framework. The 2020 energy efficiency goal of 10% has been surpassed, as Goldman Sachs reached 12% in 2017. Achieving LEED Gold or equivalent green building certifications is currently at 55%, on the way to the 2020 goal of 70%. Green operational investments, which is the company’s dedicated budget for investing in green buildings and innovative green technologies hit $701 million of the $2 billion projected for 2020.

Among other achievements in 2017, Goldman Sachs signed a 15-year PPA with NextEra Energy Resources to develop a 68-MW wind project in Pennsylvania. The project represents the first PPA executed by a U.S. bank for the entire output of a new wind power project.

The report states, "We believe that the business case for renewables remains compelling, despite policy uncertainty in some regions. Technology innovation, significant cost reductions, and market dynamics will continue to drive growth in the low carbon economy. These drivers make an ever more compelling business case for us, as we work with our clients and stakeholders toward a cleaner future."

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