CLIMATE TRANSITION Driving ESG Product Advancing Toward a Lower- Innovation Through carbon Future Transaction Banking Replacing fossil fuels with lower-carbon alternatives has the potential to make a significant impact on both emissions and We aim to build a smarter and greener treasury — and energy resource stability. Biofuels, which are widely viewed as low- by partnering with our clients, we support both their emitting assets, can help meet increasing energy needs globally. sustainability objectives and our own. Our Transaction Goldman Sachs has supported a number of transactions geared Banking Services team introduced an innovative product toward expanding capacity and driving innovation across biofuels that links yield to ESG goals — complementing our existing development. suite of ESG-related finance solutions. Xylem Restaurant Technologies Innovative, sustainable culinary products and processes have Xylem, a leading water technology company, aims to use moved to the forefront of the restaurant industry, a prime example 100% process water recycling at all major facilities by 2025. being the renewable diesel produced from cooking oil. When Our Transaction Banking team launched a new ESG-linked Restaurant Technologies — the leading provider of cooking oil Demand Deposit Account — the first of its kind in this management and back-of-house hood- and exhaust-cleaning space. By linking the yield Xylem earns on its deposits to solutions — was set to have a portion of its business acquired by this recycling goal, the solution encourages the company ECP, Goldman Sachs served as financial advisor to Restaurant to focus on its sustainability targets and drive positive Technologies and helped the company with positioning the used outcomes with even broader impact. cooking oil (UCO) portion of its business within the renewable diesel feedstock market landscape. This helped ensure Restaurant Technologies could create an ESG-friendly process of providing recycled cooking oil for its customers. Sustainability Report 2021 Climate Transition | Driving Transition 22