CLIMATE TRANSITION Featured Global Industry Partnerships and Memberships To unlock the financial sector’s full capacity to aid in the UN Principles for Responsible Banking global climate transition, participants will need to overcome The UN Principles for Responsible Banking is a platform significant data, analytic, and economic gaps. Addressing these for partnering with the financial sector to deliver on the challenges will require significant innovation and coordination Paris Agreement goals. As a member, Goldman Sachs across the financial sector — and we are leaning in. acknowledges the broad, collaborative industry effort required to address climate change. Using this platform to OS-Climate collaborate with our clients, peers, and broader stakeholders, Goldman Sachs is the founding US bank member of OS- we are committed to setting business-related climate goals. Climate, a cross-industry coalition and open-source platform for climate data and analytical tools that will be critical for Rocky Mountain Institute and Center for clients to achieve their net zero ambitions. This collaborative Climate-Aligned Finance nonprofit platform will develop open-data and open-source We are a founding partner of the Center for Climate-Aligned analytics for climate risk management and climate-aligned Finance, which was established by the RMI in July 2020 finance and investing. We look to contribute our expertise in to help the financial sector transition the global economy climate risk, product development, and financial reporting to toward a zero carbon, 1.5°C future. With deep partnerships support better tools to help all companies, asset managers, in finance, industry, government, and civil society, the and investors more consistently and effectively evaluate center works to develop decarbonization agreements within progress against decarbonization goals. high-emitting sectors, build global frameworks for climate alignment, and support financial institutions in decarbonizing GFANZ Net Zero Banking Alliance their lending and investing. The Net Zero Banking Alliance is a UN-sponsored and bank- led platform that develops standards for bank commitments 2021 was also a landmark year for sustainable finance to net zero. As an alliance member, Goldman Sachs remains regulation in the US and across the world. As we continue committed to partnering with our clients, industry peers, and to support our clients as they look to adapt to these policymakers to deliver in the transition to net zero. developments and also assess potential impacts of public policy on our own business, we engage with policymakers Sustainable Markets Initiative (SMI) and industry associations on issues of importance to our Launched by Prince Charles at the World Economic Forum in firm, our clients, and the global communities in which we 2020, SMI aims to create global engagement, inspire change, work. We remain focused on advocating for core principles and accelerate investments toward sustainable markets. across issues of importance to us and our clients, including Flagship initiatives include “Terra Carta,” a charter that carbon pricing and thoughtful policy, which support the provides a roadmap to 2030 for businesses to put nature, private sector’s role in helping to drive the climate transition. people, and the planet at the heart of global value creation driven by the private sector. Last year, Goldman Sachs joined the SMI Financial Services Taskforce, which brings together executives from the world’s largest banks to work on meaningful and actionable plans to help accelerate a global transition to a sustainable future. Sustainability Report 2021 Climate Transition | Meeting the Net Zero Challenge in Asia 41