Goldman Sachs has joined OS-Climate, a collaborative initiative under the Linux Foundation aimed at redirecting global investments towards achieving zero-carbon emissions. This effort hinges on the creation of robust open-source datasets and assessment tools.
The current membership of OS-Climate includes prominent organizations such as Allianz, Amazon, Federated Hermes, Microsoft, and S&P Global. Notably, Goldman Sachs will be the first founding U.S. bank and the inaugural Premier member of this initiative.
David Solomon, CEO of Goldman Sachs, commented, “Meaningful action against climate change requires comprehensive data, and this diverse coalition is addressing a critical gap that has hindered many past efforts.” The firm is dedicated to leveraging its expertise in climate risk, product innovation, and financial reporting to develop superior tools that assist companies, asset managers, and investors in effectively monitoring their progress towards decarbonization targets.
Solomon further stated, “As corporations strive to incorporate climate considerations into their business strategies, they often encounter challenges around the cost, accessibility, and quality of data and analytical tools necessary for informed decision-making. Improved data availability and collaboratively developed analytics will enhance companies’ ability to track their decarbonization progress and allow investors to evaluate both physical and transitional risks faced by the industry.”