Goldman's Pledge to Reduce Coal Support Doesn't Go Far Enough, Advocacy Group Says

摘要

Goldman Sachs Group Inc. pledged to be "selective" in financing coal-industry projects as part of its response to climate change, a stance that underwhelmed environmentalists who want Wall Street to stop backing the most polluting fossil fuel. In a policy statement published Nov. 2, the New York-based investment bank said it would weigh environmental impacts before financing coal-fired power plants or mining ventures around the world. Still, Goldman said the fuel remains a key source of affordable power for developing countries. The pledge fell short of commitments this year from companies including Citigroup Inc. and Bank of America Corp., according to the Rainforest Action Network, an advocacy group that has pushed banks to cut their support for coal. The other two lenders made explicit commitments to reduce their financing of the industry, citing its contributions to greenhouse gas emissions blamed for warming the planet. Goldman, while acknowledging the dangers of climate change, didn't go that far.