US investment bank Goldman Sachs said it has left the Net Zero Banking Alliance, but did not give a clear reason.
This information was released by Goldman Sachs on December 8, amid pressure from some Republican politicians who said that membership in the Net Zero Banking Alliance (NZBA) could violate the regulations. antitrust rules.
The Net Zero Banking Alliance (NZBA), established in 2021 by the United Nations, is a group of leading global banks committed to regulating their lending, investment and capital markets activities. We aim to achieve zero greenhouse gas emissions by 2050.
An NZBA spokesman declined to comment.
Goldman Sachs did not give a reason for his departure. The bank claims to be able to support its clients’ sustainability goals, while focusing on increasingly high sustainability standards and reporting requirements from regulators worldwide. gender.
It is unclear whether there will be any changes in US regulations on corporate disclosure of climate information under President-elect Donald Trump. Many large US units, including Goldman Sachs, will have to disclose information according to European Union regulations.
Bank of America said it will continue to work on a number of targets as it moves toward net-zero emissions by 2050.
In 2019, this bank said it would grant $750 billion in sustainable credit by 2030. They reached about 75% of this goal in their 2023 sustainable development report.
Also in the above report, CEO David Solomon reiterated Goldman Sachs’s commitment to the energy sector, saying the bank will continue to sponsor and advise customers in this field, as well as invest in technology to reduce emissions. carbon. “We need to do both. It’s not ‘or’, it’s ‘and,'” he wrote.
Goldman Sachs will align its credit operations towards its Net Zero target by 2050 and has set interim targets to help clients reduce carbon emissions in the energy, power and auto sectors.
Earlier this year, a number of US investors dropped out of Climate Action 100+, a coalition of the world’s largest fund managers committed to “ensuring the world’s largest greenhouse gas emitters implement necessary action on climate change”, including the fund management unit of Goldman Sachs – JPMorgan Chase, BlackRock, State Street.
Investors including BlackRock are now being accused by Texas and 10 other Republican-led states of violating antitrust laws.