The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Opinion

Responsible finance: Goldman pushes change

The investment bank will no longer IPO firms without diverse directors.

green-clock-time-780.jpg



Goldman Sachs continues to lead on environmental, social and governance issues. 

In December it announced it will be investing $750 billion in the next decade to fight climate change. Then, at Davos, chief executive David Solomon declared that from July onwards the firm will not take public any US or European company that does not have at least one “diverse” director at the time of IPO.

As Goldman points out, over the last two years more than 60 US and European companies went public without any female board members. Solomon also announced that by July 2021, the target would be increased to two diverse directors – more than 100 US and European companies that had an IPO in the last two years had only one female board member.

This diversity commitment is incredibly bold and Goldman deserves credit for leading in this regard. No other bank has come out with such a commitment. Also, unlike financial commitments that often end up forgotten or are opaque, this one has no vagueness at all. It will be easy to see if the firm is reneging.




You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree