INTRODUCTION We remain focused on where we believe we are able to drive the greatest impact — our commercial work with clients. Through market intelligence, 昀椀nancing, and advisory services, we help our clients build the capabilities they need to navigate complex sustainability challenges. With a relentless focus on driving results, a commitment to excellence in service, and a 昀椀rm fully mobilized to deploy capital and resources at scale, we believe that Goldman Sachs is well-equipped to develop innovative solutions and tools to meet the needs of our clients and the market. Systemic change requires interconnected solutions. Across our work in advancing both the climate transition and inclusive growth, our work with clients is bolstered by collaborations with partners across industries, regions, and disciplines. Sustainable economic growth and the transition to a low-carbon economy cannot be driven in isolation. When we work together, we can drive a greater and more holistic impact. Our collaboration with Bloomberg Philanthropies and the Asian Development Bank on the launch of the Climate Innovation and Development Fund is one example of how we are leveraging partnerships to help address 昀椀nancing gaps in emerging markets, where we must consider region-speci昀椀c challenges and opportunities to enable and accelerate the climate transition. Our inclusive growth strategy is grounded in our expertise derived from investing in underserved communities, and it is further catalyzed by partnership and philanthropic capital. In order to drive commercial solutions for the communities in which we serve, we have built connections with stakeholders whom we listen to and learn from during an ongoing process. In advancing inclusive growth, we remain focused on increasing access to a昀昀ordable, quality care and opportunities for members of these communities, whether those communities be large or small. Importantly, we recognize that our people are crucial in driving progress on sustainability, and they underpin all our commercial work with clients and partners. As such, we are continuing to build our capacity as a 昀椀rm and centralize sustainability, diversity, and inclusivity e昀昀orts across our organization. In turn, we leverage the insights gained from our experience to support our clients on their journeys. Sustainability Report 2021 Introduction 7