INTRODUCTION Activating the Power of the Financial System for a Sustainable Future At Goldman Sachs, we have placed sustainability at the core of our business. Building on decades of experience, we have accelerated our commitment to sustainable 昀椀nance as we continue to put our broader purpose to work: to advance sustainable economic growth and 昀椀nancial opportunity for our clients, people, partners, and communities in which we work. In December, we published our Task Force on Climate-related Financial Disclosures (TCFD) report, Accelerating Transition, in which we shared how we are leveraging the full breadth of our business to help support the low-carbon transition e昀昀orts of our clients, as well as our roadmap to deliver on progress for our commitment to align our business with a net zero by 2050 pathway. Our 2020 Sustainability Report tracked our progress in advancing the climate transition and driving inclusive growth — the two holistic pillars that underpin our sustainability e昀昀orts as a 昀椀rm. In this report, we will share how we are continuing to execute on our climate transition and inclusive growth commitments through development of innovative solutions and new commercial capabilities. As we progress toward our own goals, we are supporting our clients on their individual journeys and are driving sustainable change in the real economy. We believe that capital is critical to transform the global economy — yet its full potential is still untapped. At Goldman Sachs, we recognize it takes an interconnected, converging ecosystem of stakeholders, capital, and partnerships to mobilize capital toward sustainable outcomes. Our 昀椀rm leverages our unique position at the center of global markets to catalyze vital connections at scale across the 昀椀nancial system, in collaboration with our stakeholders. Sustainability Report 2021 Introduction 6