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Goldman Sachs launches green finance group with Beijing think tank -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO : A photograph of Goldman Sachs’ company logo on the New York Stock Exchange (NYSE), New York City, U.S.A, July 13, 2021. REUTERS/Brendan McDermid/File Photo

BEIJING (Reuters). Goldman Sachs Group Inc (NYSE:) and the International Finance Forum (IFF), a Beijing-headquartered think tank, launched a green finance working group on Saturday, the two said.

According to a statement jointly sent to Reuters, the working group will foster dialogue about climate action between senior executives of global corporations and leading researchers.

The group said it will work closely with policymakers in order to improve green finance cooperation between the private and public sectors.

John Waldron (Goldman’s president, chief operating officer) and Zhu Xian (vice president, secretary-general, IFF), co-chair this group.

Goldman Research estimates that China could reach net zero carbon emission by 2060, which would create $16 trillion of infrastructure investment opportunities as well as approximately 40 million jobs.

Waldron explained that we need to shift from climate science and business to make it more accessible for customers to choose and use greener energy to power their lives every day.

The working group includes many of the biggest energy investors worldwide, as well as the top users and suppliers of electricity. He said that they are needed to become active supporters and participants in the future climate change transition.

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