Goldman Sachs on Monday announced its plan to invest $750 billion over 10 years to fight climate change by funding sustainable development.
"We are committed to helping our clients position themselves for a future in which sustainability is core to all industries and integrated across markets, with successful commercial solutions," the company wrote in a press release.
"We will achieve this vision by doing what we do best — invest, finance, advise, and innovate — to drive global climate transition and inclusive growth strategies that accelerate positive change. That's why we're targeting $750 billion in sustainable finance growth themes by 2030."
Goldman Sachs plans to invest in five areas: clean energy, sustainable transportation, food and agriculture, waste and materials, and ecosystem services. They will also focus on promoting "inclusive growth," such as increased access to healthcare, "micro finance solutions," and affordable housing.
"There is not only an urgent need to act, but also a powerful business and investing case to do so," Goldman Sachs CEO David Solomon wrote in a Financial Times editorial announcing the plan. "That gives me hope for what we can achieve and conviction that financial institutions can play a critical role."
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