- High dependence on fossil fuels for global energy needs (over 80%).
- Rising energy demand and geopolitical conflicts impacting energy security and affordability.
- High inflation increasing input costs and complicating supply chains.
- Potential doubling of electricity consumption from data centers, generative AI, and cryptocurrencies by 2026.
- Scrutiny of sustainability commitments and divergence in client preferences and regulatory approaches.
The Goldman Sachs Group, Inc.
Carbon Emissions & Sustainability Report
CO₂ Emissions
23.1K tCO2e/year (Scope 1 & 2 market) + 79915 tCO2e/year (Scope 3 Category 6)
2023
Renewable Energy
100% (electricity)
of total energy
Water Usage
918.5K m3/year
2023
Waste
2.7K tons/year (business waste)
2023
Energy Use
493.5K MWh/year
2023
📊 Emissions Breakdown (2023)
Scope 1
Direct emissions
13.8K tCO2e/year
Scope 2
Electricity
164.4K tCO2e/year (location and market)
Scope 3
Supply chain
79.9K tCO2e/year (Category 6)
📈 Historical Emissions
2023
23.1K tCO2e/year (Scope 1 & 2 market) + 79915 tCO2e/year (Scope 3 Category 6)
2022
24.5K tCO2e (market scope 1 & 2)
2021
46.1K tCO2e/year (Scopes 1 & 2 (market) and Scope 3: Category 6)
2019
157.3K tCO2e (net)
2015
382.0K tCO2e
2014
254.3K tCO2e/year (Scope 1 & 2)
✅ Key Environmental Achievements
- Achieved approximately $302 billion in Climate Transition commercial activity since 2019.
- Reduced energy use intensity for offices by 42% from the 2017 baseline.
- Reduced global water withdrawal by 11% from the 2017 baseline.
- Reduced global business waste by 40% from the 2017 baseline.
- Sourced renewable electricity equivalent to 100% of global electricity consumption.
🎯 Future Goals
🔜 Short-term
- Achieve net zero emissions by 2030 in operations and supply chain.
📅 Medium-term
- Achieve 2030 sectoral targets in Energy, Power, and Auto Manufacturing (specific targets detailed in report).
- Spend $1.5 billion with small and diverse vendors globally between 2023 and 2025.
🔭 Long-term
- Align financing activities with a net zero by 2050 pathway.
🌱 ESG Focus Areas
Climate TransitionInclusive Growth