No. of Recommendations: 4
Goldman Sachs launched a new sustainable and socially responsible fund this year, but they invest in companies that don't fit many people's criteria, and Goldman Sachs consistently votes against shareholder proposals that would improve companies' social and environmental responsibility.


Is Goldman Sachs’ New Fund Really Just Greenwashing Stocks?
https://capitalandmain.com/is-goldman-sachs-new-fund-really-...

When Goldman Sachs and billionaire Paul Tudor Jones announced a partnership three months ago to help socially conscious investors support “just business behavior,” they promised that their new index fund would generate solid returns for savers while directing their investment dollars towards truly humane companies. [...]

However, a Capital & Main review of corporate documents shows that some of JUST’s largest investments are in fossil fuel firms that have been sued for suppressing global climate research, Wall Street behemoths fined for defrauding investors, a social media platform accused of helping rig elections and a tech industry giant criticized for paying its workers starvation wages.

Moreover, proxy voting records reveal that even as Goldman Sachs now markets itself as a champion of social responsibility, the firm has been using its existing stakes in many JUST fund companies to help CEOs block key environmental and social justice reforms proposed by their shareholders. Those initiatives range from gender pay gap and diversity initiatives to corporate governance reforms; from efforts to increase lobbying transparency to prohibitions on doing business with companies tied to genocide and other human rights violations. [...]



Mike
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