Goldman Sachs Demands Governments Help Banksters Make Money in Green Investments

Dec. 17, 2019 (EIRNS)—Goldman Sachs announced a plan to divest from the hydrocarbons-connected economy and invest $750 billion in so-called “climate transition” in the next 10 years—provided that governments help with subsidies.

In a Dec. 15 article published in the City of London’s Financial Times, Goldman Sachs CEO David Solomon made no mystery that “climate transition” offers chances to himself and fellow banksters for “powerful business.”

“The evidence of climate change is clear. And, people in both developed and developing countries are questioning the ability of their economies to reward their hard work. There is not only an urgent need to act, but also a powerful business and investing case to do so. That gives me hope for what we can achieve and conviction that financial institutions can play a critical role. Over the next 10 years, Goldman Sachs will target $750 billion of financing, investing and advisory activity to nine areas that focus on climate transition and inclusive growth.

“To give us the best chance of combating climate change”

—that is, to blow hot air into a new financial bubble—

“governments must put a price on the cost of carbon, whether through a capand trade system, a carbon tax or other means. The resulting incentives will channel capital to low carbon solutions and drive innovation,”

Solomon wrote in FT’s new Opinion section for “Social and Environmental Impact Investment.”

Goldman Sachs has also decided to stop future financing of oil drilling or exploration in the Arctic and said it would not invest in new thermal coal mines anywhere in the world, according to the Guardian.