Goldman CEO David Solomon: Time for ESG Investing to Go Mainstream

September 26, 2019 | ESG and Sustainability, Investments, News

The executive spoke at the Bloomberg Global Business Forum on Wednesday

Goldman CEO David Solomon said that financial institutions need to push ESG investing into the mainstream. During a talk at the Bloomberg Global Business Forum, Solomon encouraged advisers to ramp up conversations with clients about climate change and the associated exposure. He said his conversations have “amped up materially” over the last two years. However, ESG only sees about 1% of global capital investments.

“The Carbon Tilt”

During his talk, Goldman Sachs CEO David Solomon said that sustainable investments – like “green bonds” remain a niche category. However, he noted that the firm is developing innovations in the bank. For example, one bond will become less expensive for the borrower if they meet a series of sustainability targets.

The event took place in New York, not far from the United Nations. Earlier this week, the U.N. hosted a climate forum that generated significant buzz around the world.

Goldman CEO David Solomon and Other Leaders Talk Green

Solomon wasn’t the only executive to comment on ESG and sustainable investing. Citigroup CEO Mike Corbat said he sees more engagement from executives on climate issues. He argues that executives are more aligned on addressing climate challenges than political leaders.

Meanwhile, Axa SA Chairman Denis Duverne said that the financial world is “moving much faster than the sovereign world.”

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