INCLUSIVE GROWTH We expect that our work to support an inclusive transition, in partnership with our clients, the public sector, and broader stakeholders, will continue to be an important area of focus for our firm as we look forward. As we look toward the future, we also look to learn from our recent experience deploying capital and financing solutions for companies that are driving progress toward both inclusive growth and climate-related goals. BlocPower PosiGen Founded in 2012, BlocPower is a Black-led, privately PosiGen, a portfolio company of a firm with whom clients held company that partners with utility companies and of Imprint have invested in the past, is a provider of governments to identify, finance, and upgrade building renewable energy and efficiency solutions for low- to energy systems in urban areas. Goldman Sachs provided a moderate-income families. PosiGen’s solutions include loan to BlocPower to finance the acquisition and installation solar rooftop photovoltaic (PV) and energy efficiency of electric heating and cooling systems and expansion of upgrades, such as duct sealing, CFL light bulbs, and broadband service across multifamily buildings in New York programmable thermostats, among others. PosiGen also City, specifically focused on low- and moderate-income provides education programs for homeowners that are neighborhoods. aimed at reducing overall energy spend. Rooftop solar and other sustainable technologies have had lower relative In addition to more cost-efficient and energy-efficient rates of penetration for these families, given high up-front heating and cooling systems, residents in the buildings costs and perceived financing risks for a lower-income BlocPower retrofits will benefit from improved air quality population. PosiGen employs proprietary methods to and increased temperature control. The retrofits are also underwrite creditworthiness instead of adhering to a FICO expected to help BlocPower customers avoid fines related score cutoff, which may help the company provide its to limits on greenhouse gas emissions, including those products to more households than would receive them produced by on-site fuel combustion of oil and gas boilers. under traditional credit writing. Los Angeles Clippers Goldman Sachs led the financing for the Los Angeles Clippers’ arena, the Intuit Dome. The project will fund social and environmental programs in the City of Inglewood, including a $100 million Community Benefits Package as part of the Arena Development Agreement. The project will provide funds for affordable housing, first-time renters’ assistance, emergency support, capacity building for housing-focused nonprofits. Additional funds will go toward the installation of 1,000 electric charging units in the city, and the arena is being built to be fully electrified and operates a zero-waste program using composting and recycling technologies. Sustainability Report 2021 Inclusive Growth | What to Expect Next 86