Tuesday, November 22, 2005

Follow the Money...Its Going Green

The NY Times reported that Goldman Sachs is setting the green standard among financial institutions.  Goldman Sachs Goes Green  Goldman Sachs environmental policy is far more specific than most corporate environmental policies.   GS Policy
It pledges to:

  • reduce its own footprint;
  • use its power plants as demonstration projects for innovative technology;
  • be a market maker for development of emissions markets;
  • help develop markets in ecosystem services;
  • become a leading wind energy developer;
  • make a $1 billion available for renewable energy/conservation projects;
  • avoid lending for projects in environmental sensitive areas or extractive projects affecting World Heritage sites,to companies or projects engaged in illegal logging, to projects violating domestic laws enacted to implement international environmental agreements;
  • finance preservation and non-extractive use of forest resources in forests  with high conservation values;
    and
  • develop due diligence procedures around key environmental issues.

http://lawprofessors.typepad.com/environmental_law/2005/11/follow_the_mone.html

Economics, Governance/Management, International, Sustainability, US | Permalink

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