Carbon Footprint — Operations: How does Goldman Sachs Group, Inc. score?

Goldman Sachs reports Scope 1 (~92t CO₂e) and Scope 2 (~9,252t CO₂e) for 2023 via its Sustainability Report, with third-party verification per GHG Protocol and annual CDP disclosure. Operational emissions are relatively small for a company of this size. Multi-year tracking exists with granular breakdown. However, these figures only cover direct operations, not financed emissions which represent the overwhelming majority of GS's physical climate impact.

Carbon Footprint — Supply Chain: How does Goldman Sachs Group, Inc. score?

Goldman Sachs reports operational Scope 3 emissions (~79,915t from business travel in 2023) but critically does not fully disclose Scope 3 financed emissions — the most material category for a bank. With $87.2B in fossil fuel financing from 2021-2024, financed emissions likely amount to hundreds of millions of tonnes CO₂e, vastly dwarfing operational emissions. The bank has set 2030 physical emissions intensity goals for select sectors but has not disclosed total financed emissions across its po

Emissions Trajectory: How does Goldman Sachs Group, Inc. score?

Operational emissions show a declining trend from 2019 to 2023 across all scopes, with Scope 3 business travel dropping from ~135,500t to ~79,900t. However, total operational emissions rose from ~83,933t in 2022 to ~103,009t in 2023. More critically, the bank uses intensity-based targets for its financed emissions (2030 Physical Emissions Intensity Goals) rather than absolute reduction targets. With GS remaining a top-10 global fossil fuel financier at $28.5B in 2024, the bank's total facilitate

Energy Source: How does Goldman Sachs Group, Inc. score?

Goldman Sachs is a RE100 member and claims 100% renewable electricity for global consumption since 2020, achieved through a mix of PPAs, on-site generation, and RECs. The firm has a 2025 target to source 80% from long-term PPAs and on-site projects. A 100MW VPPA with the Bluebird Solar Project was recently commissioned. However, significant reliance on traditional RECs (288,361 MWh in 2023 per EPA Green Power Partnership data) rather than additionality-based sourcing caps the score. All building

Nature & Biodiversity Impact: How does Goldman Sachs Group, Inc. score?

Goldman Sachs has developed a GS SUSTAIN Nature Framework for research and investment analytics, and references ecosystem services in its Sustainable Finance Framework. However, there is no evidence of TNFD-aligned disclosure for its own operations or financing activities, no deforestation-free financing commitment, and no quantified nature footprint. As a major financier ($87.2B to fossil fuels, plus financing across other high-nature-risk sectors), the bank's indirect nature impact through fin

Resource Use & Waste: How does Goldman Sachs Group, Inc. score?

Goldman Sachs has a 2025 target to divert 100% of business waste from landfill, reduce paper consumption per capita by 30%, and remove 100% of single-use plastic from on-site facilities. The firm emphasizes circular economy principles with centralized waste segregation and furniture donation programs. LEED-certified buildings (Gold to Platinum across major campuses) incorporate sustainable design. Targets are specific and measurable, though public waste metrics and verification details are limit

Water Impact: How does Goldman Sachs Group, Inc. score?

Goldman Sachs has a 2025 target to reduce water intensity (gal/occupied seat) by 15% from a 2017 baseline. The firm reports reduced global water use vs. its 2013 baseline. The NYC headquarters saves over 16 million gallons annually through reduction, reclamation, and reuse. The Bengaluru campus has halved freshwater use via reverse osmosis sewage treatment and implemented a Zero Liquid Discharge system. As a financial services firm, direct water impact is relatively low, but these are substantiv

Targets & Commitments: How does Goldman Sachs Group, Inc. score?

Goldman Sachs has a net zero operations and supply chain goal by 2030 and net zero financing by 2050. However, the firm does not appear to have SBTi-validated targets — no validated near-term or net-zero targets were found on the SBTi dashboard. Its 2030 financed emissions targets are intensity-based (Physical Emissions Intensity Goals), not absolute. Carbon neutrality since 2015 is achieved through offsets including REDD, cooking stoves, and afforestation via Verra/Gold Standard registries — a

Transparency & Accountability: How does Goldman Sachs Group, Inc. score?

Goldman Sachs publishes an annual Sustainability Report (most recent December 2025), a TCFD Report, CDP disclosures, and maintains sustainability governance structures. The firm underwent third-party verification of emissions data and certifies all workplaces to ISO 14001. CSRD disclosure obligations are noted. However, financed emissions disclosure remains incomplete, the net zero target is described as 'not yet institutionalised' with 'leadership not formally accountable' according to Net Zero

Controversies & Red Flags: How does Goldman Sachs Group, Inc. score?

Starting at 8: SEC fined GSAM $4M in 2022 for ESG fund policy failures and greenwashing (-2). Goldman Sachs provided $87.2B in fossil fuel financing 2021-2024, ranking as a top-10 global fossil fuel financier in 2024 at $28.5B, directly contradicting net zero commitments (-2). Exited Climate Action 100+ in 2024 under political pressure, undermining collaborative climate engagement (-1). InfluenceMap describes 'limited and unclear direct engagement' on climate policy, with mixed positions support

Goldman Sachs Group, Inc. Sustainability Score: 36/100

Recently scored: Dentsu, Omnicom, Publicis Groupe, WPP

507 companies scored·4 score updates this week

Goldman Sachs Group, Inc.·Financial Services / Banking·200 West Street, United States·Founded 1869·Last verified 21 April 2026

out of 100

Below expectationsPending Review-7 since last review

Goldman Sachs reports robust operational emissions management but masks the true climate impact: $87.2B in fossil fuel financing since 2021 makes financed emissions the overwhelming material issue, yet the bank discloses only intensity targets, not absolute reductions. Greenwashing fines, Climate Action 100+ exit, and top-10 fossil fuel rankings contradict net zero rhetoric.

No challenges currently filed

The calculation

Every score shows its working.

Same formula for every company. No curve. No private weighting.

SINK = (0.3 × Base + 0.7 × Performance) × Scale

Industry base impact

Financial Services / Banking sector ceiling.

50 / 100

Performance score

Sum of the 10 rubric questions, scored 0–10 each.

42 / 100

Raw score

Weighted average before scale penalty.

(0.3 × 50) + (0.7 × 42) = 44.4

Scale penalty

Multiplier based on absolute emissions volume — physics-first.

× 0.82

Final score

Rounded. Below expectations.

36 / 100

The ten questions

Where Goldman Sachs Group, Inc. is strong, and where it isn't.

Strongest on Carbon Footprint — Operations and Energy Source (7/10, 7/10). Weakest on Controversies & Red Flags and Nature & Biodiversity Impact (2/10, 2/10).

Where the evidence comes from

Every document used, listed.

15 sources used in this assessment. All publicly available. Each row shows which rubric questions it informed.

[1]Third-party verified

DitchCarbon: Goldman Sachs Carbon Emissions Profile

Ongoing

Q1Q2Q3

Every score shows its working.

Where Goldman Sachs Group, Inc. is strong, and where it isn't.

Every document used, listed.

Where Goldman Sachs Group, Inc. sits among financial services / banking peers.

Goldman Sachs Group, Inc.'s score over time.

This score is not currently being contested.

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