This comes as no surprise to us, but still encouraging every time a leading company like Goldman gets proactive. Especially considering Goldman owns so much of so many companies, private and public, with their proprietary investments - it's just good to see they're clueing in.
Now they just need a scientific definition of success in terms of sustainability, so they can work strategically on moving towards it!!
(click the title for full story):
The Greening of Goldman Sachs
Traci Hukill, Alternet via Truthout
One of the world's leading investment banks concedes there are real financial costs to ignoring the environment - and they don't intend to get stuck paying them.
This is not a case of Goldman pretending its job is to save the world, or forsaking its primary mission to make money for its investors. Self-interest is in full effect here. Goldman Sachs is positioning itself to be a leader in the green energy sector.
It's also averting risk. The policy says so in so many strangulated, jargoney words: "We believe that companies' management of environmental and related social risks and opportunities may affect corporate performance."
Translation: there are real financial costs to ignoring the environment and the people who depend on it for their survival, and we don't intend to get stuck paying them.
(3 January 2006)
The link this summary came from is also a pretty cool site for news: http://www.energybulletin.net/index.php