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Goldman Sachs to invest $40 billion in renewable energy projects

  • Goldman Sachs plans to channel investments worth $40 billion over the next decade into renewable energy projects.

    According to Goldman executives, the demand for alternative energy sources will grow with global energy demand.

    This comes as big manufacturing countries, including China and Brazil, look set to reach higher targets for reducing emissions.

    The bank plans to finance deals with clients' money and its own funds.

    In 2005, Goldman pledged to invest and finance $1 billion of environmentally friendly projects. By the end of last year, the company had surpassed its goal with $24 billion and $4 billion worth of financing and investment respectively into such projects.