CLIMATE TRANSITION Waste and Materials Sustainable Food and We believe that advancements in waste and material Agriculture management will promote sustainable production and consumption, support increased resource efficiency, and Food and agricultural production drives a significant portion drive commercial success. of global emissions today and it is critical to shift to more sustainable global production practices. Our work increases Oikos value across the full supply chain — from agricultural production through storage, processing, and distribution — When Goldman Sachs acquired a majority stake in Oikos and improves environmental quality control to enable more — Germany’s second-largest provider of high-quality sustainable outcomes, from farm to table. prefabricated homes — in May 2021, we embarked on a journey toward further accelerating the decarbonization Miyoko’s of the housing industry. While traditional brick and mortar homes can cause significant environmental cost and GHG Miyoko’s Creamery Inc. is a leading plant milk creamery with emissions during production, Oikos’ homes are made from artisanal, fermented plant-based butter and cheeses that environmentally friendly materials with the goal of resulting in are loved by chefs, foodies, and consumers. Miyoko’s is a lower emissions. Oikos also has a strong sustainability focus market leader within alternative dairy and has an established along its entire value chain. We helped the company identify presence in the natural retail channel, with efforts underway numerous initiatives that fully align with the goals in the to expand into conventional (Target, Publix, Walmart), club Paris Agreement — including phasing out diesel-powered (Costco), and food service. The company’s mission is to production vehicles, investing in new heating systems, reduce the planetary impact of the human diet through a installing solar photovoltaic systems on its plants, and shift to plant-based foods, which have a significantly lower extending the environmental commitment along the supply carbon footprint and require less water relative to animal chain through purchasing FSC/PEFC-certified timber from protein. With their products, the company is also dedicated responsibly managed forests. to reducing the number of animals inhumanely used in our global food system. To support their goals, Goldman Sachs Asset Management invested $12.5 million into Miyoko’s in Oikos is accelerating decarbonization in the housing July 2021 as part of the company’s $40 million industry with approximately 99% lower CO2/sqm emissions Series C financing. over traditional houses and approximately 80%–90% environmental cost advantage. Nature’s Fynd TemperPack Nature’s Fynd, a food technology company, has developed a new protein that is highly nutritious and contains 51% protein by dry mass and all 20 amino acids used by the human Goldman Sachs Asset Management invested in TemperPack, body. The protein’s structure is versatile, which allows it to a leading manufacturer of sustainable thermal insulation be manufactured into different form factors across meat and for cold chain packaging. The new funding will expand dairy. Nature’s Fynd’s protein production is more resource- TemperPack’s capacity for protective materials technologies, efficient than that of other proteins, such as soy and pea grow its geographic footprint, and extend its customer reach isolates, with a lower cost at scale, enabling it to produce the — helping to keep plastic waste out of the environment and protein with a fraction of the land (99% less) and water (99% reduce carbon emissions. less) that meat production requires. Sustainability Report 2021 Climate Transition | Accelerating Innovation 32