Goldman to plow $40 bn into green energy

People walk past Goldman Sachs headquarters
People walk past Goldman Sachs headquarters in March 2012 in New York City. Goldman Sachs plans to invest $40 billion into projects linked to renewable energy over the next decade, a company spokesman said Thursda

Wall Street giant Goldman Sachs plans to invest $40 billion into projects linked to renewable energy over the next decade, a company spokesman said Thursday.

"We are extending our long-standing commitment to support renewable energy by setting a target of $40 billion in financings and capital investments over the next decade to companies that promote alternatives," spokesman Michael Duvally told AFP.

"This target reaffirms our commitment to serving the needs of our clients in this space and playing a catalytic role in this important market," he said.

Goldman, which has a team dedicated to investment in clean technologies and renewable energy, financed $4.8 billion and co-invested more than $500 million in the sector last year.

"The clean tech industry is expected to be a rapidly growing market and one that we believe is at a momentous point in terms of the expansion of technologies that will help diversify and improve the environment," Duvally said.


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Citation: Goldman to plow $40 bn into green energy (2012, May 25) retrieved 5 August 2020 from https://phys.org/news/2012-05-goldman-plow-bn-green-energy.html
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