ABSTRACT

At a United Nations summit on corporate responsibility in July 2007, Goldman Sachs released a report that breathed yet more life into the maturing body of sustainable investing. The venerable investment bank had been nurturing growth in this field over the past several years: in 2004 it released its first sustainable investing report, in 2005 it issued a company-wide environmental policy, and in 2006 it invested $1.5 billion in clean energy. At first glance, it may have disappointed sustainable investing advocates to see Goldman analysts saying that it was too early to correlate sustainability performance directly to financial performance. 1