Goldman Sachs has joined OS-Climate, a cross-industry initiative hosted by the Linux Foundation that is seeking to shift global investment toward zero-carbon emissions through the development of comprehensive Open Source data sets and evaluation tools.
The OS-Climate membership roster currently consists of Allianz, Amazon, Federated Hermes, Microsoft, and S&P Global. Goldman Sachs will be the first founding US bank member and the first Premier member of OS-Climate.
Goldman Sachs CEO David Solomon, comments: “The world needs comprehensive data to meaningfully address climate change, and this diverse coalition is attacking a key shortcoming of so many efforts to make progress."
The Wall Street bank is committed to provide critical expertise in climate risk, product development, and financial reporting with the aim of creating better tools to help companies, asset managers, and investors effectively evaluate progress against decarbonisation goals.
“As corporates seek to integrate climate considerations into their business activities, they realise that the cost, the availability and quality of data, and analytical tools to make sound decisions is lacking,” says Solomon. “More widely available data, and collaboratively developed analytics, will help companies measure progress against decarbonisation goals and investors assess the physical and transition risks to which the industry is exposed.”