IN DEPTH: Goldman goes green

The Goldman Sachs building in Jersey City, US, viewed from parkland

The Goldman Sachs building in Jersey City, US, viewed from parkland

Goldman Sachs has plans to invest $40bn in clean energy by 2021 — not to save the planet, but to make a killing.

The world’s most powerful and controversial financial institution describes renewables as one of the biggest profit opportunities in decades.

Goldman Sachs finds this market incredibly compelling,” says Stuart Bernstein, who heads its clean-technology and renewables investment banking group. “It is at a transformational moment in time.”

Despite a recent industry downturn, fewer public subsidies in Europe and a sluggish global economy — not to mention the copious amounts of natural gas and oil becoming available through fracking — chief executive Lloyd Blankfein and his lieutenants believe the time is right to Log in to read complete article.

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