Goldman Invests in Market-Driving Global Warming Solutions

Goldman pledged to invest $1 billion in renewable energy projects, establish an environmental policy think tank and research the environment.

Published: 30-Dec-2005

NEW YORK (Reuters) - Goldman Sachs Group thinks it can battle global warming, not by hugging trees, but by doing what comes naturally to a Wall Street powerhouse: trading.

Goldman last month joined a growing list of investment banks, under pressure to withhold funds from projects that boost greenhouse gasses, that have promised to help protect forests and fend off global climate change.

Yet while advocates for the environment usually talk of curbing development, Goldman Sachs insists it can promote "green" policy through the capital markets and investments.

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