Goldman Sachs

Goldman Sachs, a US-based financial intermediation services company, reported Scope 1 emissions of 103,000 kg CO2e, location-based Scope 2 emissions of 831,000 kg CO2e, and Scope 3 business travel emissions of 3,866,000 kg CO2e for 2024.

Looking back, in 2023, the company's Scope 1 emissions were 13,842,000 kg CO2e, location-based Scope 2 emissions were 155,105,000 kg CO2e, and Scope 3 business travel emissions were 79,915,000 kg CO2e. For 2022, Scope 1 emissions were 12,595,000 kg CO2e, location-based Scope 2 emissions were 156,468,000 kg CO2e, and Scope 3 business travel emissions totalled 61,517,000 kg CO2e. In 2021, Goldman Sachs recorded Scope 1 emissions of 12,648,000 kg CO2e, location-based Scope 2 emissions of 145,013,000 kg CO2e, and Scope 3 business travel emissions of 21,496,000 kg CO2e.

Goldman Sachs has set several climate commitments. The company aims for net-zero carbon emissions in its operations and supply chain by 2030 (covering Scope 1 and 2). This target has been consistently stated in their 2021, 2022, and 2023 sustainability reports, including the 2023 Principles for Responsible Banking Report. Additionally, Goldman Sachs has a long-term commitment to align with a net-zero by 2050 pathway, in line with the goals of the Paris Agreement.

Near-term absolute reduction targets include a 50% reduction in Scope 1 emissions by 2025 from a 2020 baseline, and a 50% reduction in Scope 2 emissions by 2025 from a 2020 baseline. An earlier target aimed to reduce Scope 1 and Scope 2 emissions by 7% by 2012 from a 2005 baseline. There was also a target to reduce Scope 1 and Scope 2 emissions by 10% from a 2013 baseline by 2020. More recent targets (from 2019) include a 50% reduction in Scope 1 and Scope 2 absolute GHG emissions by 2030 from 2019 levels.

In terms of intensity targets, Goldman Sachs aims to reduce energy intensity across its operationally controlled facilities by 20% by 2025 from a 2019 baseline (covering Scope 1 and 2). They also have sectoral intensity targets for 2030, including a reduction in emissions intensity for the Energy sector from 72 gCO2e/MJ in 2019 to 56–60 gCO2e/MJ by 2030 (a 17–22% reduction), and for the Power sector, a reduction from 417 kgCO2e/MWH in 2019 to 147–219 kgCO2e/MWH by 2030 (a 48–65% reduction).