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[ Sun, Dec 08th 2024 ]: St. Catharines Standard
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[ Sun, Dec 08th 2024 ]: The Motley Fool
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[ Sun, Dec 08th 2024 ]: The Peninsula
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[ Sun, Dec 08th 2024 ]: fbcnews
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[ Sat, Dec 07th 2024 ]: Hindustan Times
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[ Sat, Dec 07th 2024 ]: Fortune
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[ Sat, Dec 07th 2024 ]: The New York Times
Backers of Most U.S. Mortgages Have Done Little About Climate Risks

Goldman decides to leave world's top climate alliance for banks

Goldman Sachs leaves Net-Zero Banking Alliance due to regulatory pressures and political attacks, impacting climate finance groups.
Goldman Sachs has decided to exit the Glasgow Financial Alliance for Net Zero (GFANZ), a prominent coalition of financial institutions committed to achieving net-zero greenhouse gas emissions by 2050. This move comes as the bank reevaluates its climate strategy, focusing on its own initiatives to combat climate change rather than participating in collective efforts. The decision was influenced by regulatory concerns and the complexities of aligning with the alliance's stringent targets. Despite leaving GFANZ, Goldman Sachs emphasized its ongoing commitment to environmental sustainability, stating that it will continue to support clients in their transition to a low-carbon economy and will pursue its own climate goals independently. This exit has sparked discussions on the challenges financial institutions face in balancing regulatory compliance with ambitious climate commitments.

Read the Full Business Line Article at:
[ https://www.thehindubusinessline.com/money-and-banking/goldman-decides-to-leave-worlds-top-climate-alliance-for-banks/article68958275.ece ]