Goldman Sachs’ new world headquarters in New York.
about Goldman Sachs
Goldman
Sachs (NYSE: GS) was founded in 1869 and is a leading global financial services firm that is headquartered in New York. It provides an array of financing services, including investment banking, asset management for institutions and high net worth private clients, and investment research.
ownership
listed on NYSE Euronext
headquarters
85 Broad St.
10004 New York
United States
position top 1000 the Banker
In million US$. Ranking according to Tier 1 capital, as per definition Bank of International Settlements (BIS)
The CDP impels organisations to record their carbon footprint in daily activities. Encouraging enterprises to calculate and disclose their carbon impact, this initiative highlights the challenge for financial institutions to determine exactly how much carbon output can be attributed to financing.
Voluntary framework to guide the finance sector in tackling the challenge of climate change. They address the management of operational greenhouse gas (GHG) emissions and provide direction on managing climate change in research activities; asset management; retail banking; insurance & re-insurance; corporate banking; investment banking & markets; project finance.
The EPs are a set of guidelines, based upon the Performance Standards and guidelines from the IFC, the World Bank's private sector lending arm for private banks to asesses and mitigate risks in project finance. Banks use the Principles to guide internal operating procedures for transaction for specific projects. Although the EPs are an important step to raise overall standards of financiers and projects in the developing world, they currently fall short on transparency and governance requirements.
The verification and full publication of company payments and government revenues from oil, gas and mining is supported by the EITI. Financial institutions can participate and encourage resource-rich countries to support the initiative that aims to defeat poverty, corruption and conflict caused by weak transparency and accountability.
As the name suggests, the GRI aims to standardise good practice in transparency. GRI provides companies with guidelines to organise their annual report with reporting indices and standards addressing environmental, social and economic issues that business ought to address when telling the world about its performance.
The UN Global Compact is a set of ten principles that companies may sign voluntarily. Signatories promise to avoid complicity in human rights violations, adhere to labour standards, protect the environment and avoid corruption. The G8 countries urge companies to participate in this initiative, and with over 2900 companies signing up, the Global Compact has momentum. A voluntary and network based framework, the Global Compact actively promotes peer review and stakeholder participation.
UNEP is the 'voice of the environment' for the United Nations system, promoting international cooperation in the field of the environment. Issues concerning the financial community are addressed by the UNEP Finance Initiative which promotes investment in clean and renewable energy by financial institutions and other investors. Financial insititutions wishing to join must sign one of two Statements (for financial institutions and a separate one for the insurance industry).
UNPRI is a set of six principles direct institutional investors may adopt to consider environmental, social and corporate governance issues when investing. Voluntary and aspirational in nature, UNPRI has since its inception in 2006 attracted 200 signatories, representing US$8 trillion worth of investments.
Since the turn of the century a group of twelve banks known as the Wolfsberg Group have collaborated to improve ethical standards. The principles provide guidance on money laundering, corruption and the financing of terrorism. They have been produced to address deficiencies in areas 'yet to be fully articulated by lawmakers or regulators'.
General BankTrack reaction on policies Goldman Sachs
Goldman
Sachs' Environmental Policy Framework is a
rather general document, describing Goldman Sachs actions with regard to
sustainability practices. It focuses mainly on internal issues, such as
lowering energy and paper use. With regard to customer relations Goldman Sachs
believes "it is important to take the environmental impacts and practices of
our clients and potential clients into consideration as we make business
selection decisions." The requirements apply to project finance and Goldman
Sachs will "seek to apply the general guidelines to debt and equity
underwriting transactions, to the initiation of loans and to investment banking
advisory assignments where the use of proceeds is specified to be used for potentially
environmentally damaging projects and where Goldman Sachs is the lead book
runner or arranger."
agriculture
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arms industry and trade
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fisheries
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forestry
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mining
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oil and gas
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power generation
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biodiversity
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climate change
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corruption
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human rights
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indigenous peoples
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labour
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operation in conflict zones
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taxation
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toxics
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accountability
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transparency
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headquarters
85 Broad St.
10004 New York
United States
position top 1000 the Banker
In million US$. Ranking according to Tier 1 capital, as per definition Bank of International Settlements (BIS)
Michelle Chan, Friends of the Earth US, United States
Cluster Munitions producers
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Dynegy LS Power is currently planning to construct more new coal-fired power plants than any other company in the USA, which will result in very large increases in greenhouse…
Michelle Chan, Friends of the Earth US, United States
BankTrack has identified controversial issues
with the companies listed below that require attention from Goldman Sachs.
Alliant Techsystems
Alliant Techsystems (ATK) is the world's largest manufacturer of ammunition and a leading supplier of precision systems and electronic warfare. The company is also active…
E.ON is a German electricity company headquartered in Düsseldorf and is another of big beasts of energy production. E.ON operates along the entire value chain of power…
Lockheed Martin is a global security company that is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology…
As Europe's second largest electricity generator and one of Europe's five leading gas and electricity companies, this German utility is another of energy and gas production's…
Textron is a multi-industry company, consisting of numerous subsidiaries and operating units. One subsidiary is Textron Systems, which is active in the defence, homeland…
Vedanta Resources is a mining company. It produces aluminum, copper, lead and zinc. Vedanta has a strong position in India, where its founder Anil Agarwal was born, but is…
