Goldman Sachs
Corporate Bias Rating
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Risk Level:
Summary:
In July 2022, West Virginia placed Goldman Sachs on its Restricted Financial Institutions List for its “boycott of energy companies” according to its ESG policies and publicly available statements. Goldman Sachs is part of the Global Alliance for Responsible Media, which aims to demonetize advertisements and suppress content that “vilifies” individuals based on sexual orientation and gender identity, discusses "debated social issues in a negative or partisan context" or spreads "hate speech". The company was banned in Texas from doing business with the state for violating Texas' law against boycotting the energy and gun manufacturing industries. Goldman Sachs scored a 100 on the 2023 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group. By complying with the HRC’s controversial demands, Goldman Sachs increases the risk of dividing employees, alienating customers and harming shareholders. The company provides a benefits package for employees which covers travel/lodging costs for an abortion and transgender medical procedures for covered employees and dependents, including children. It also uses sex and gender ideology criteria in employee recruitment, vendor selection, marketing, and philanthropic support. Goldman Sachs forces employees to undergo multiple ideological trainings and uses its reputation, corporate funds, and political influence to support controversial sex and gender ideologies, organizations, and legislation. The company has funded Planned Parenthood and the Human Rights Campaign (HRC). Goldman Sachs pledged $10 million to BLM and related causes. Goldman Sachs is a signatory of the Business Roundtable's 2019 Statement on the Purpose of Corporation, which promotes stakeholder capitalism over traditional shareholder obligations. Goldman Sachs is part of Glasgow's Net Zero Alliance and a signatory of Climate Action 100+. For these reasons, Goldman Sachs receives a High Risk rating.
Board Bias
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CEO of Goldman Sachs
David Solomon
Summary:
Headquartered in New York, New York, Goldman Sachs is a member of the Fortune 250 operating in the Diversified Financials industry. David Solomon and David Solomon serve as CEO/President and Chairman, respectively, leading the company’s C-suite executive team and the board of directors. Amongst these teams, the collective leadership is responsible for $1,113,275 to Republican causes and $962,761 to Democratic causes. Under their tenure, Goldman Sachs currently holds a 'High Risk' risk rating.
Political Contributions of Leadership:
$1,113,275
$962,761
Republican
Democrat
Shareholder Proposals
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Date | ESG Category | Proponent | Summary of Resolution | Mgmt Rec | Total Vote % in Favor |
---|---|---|---|---|---|
4/26/23 | Governance | John Chevedden | Lobbying Report | Against | 35.30% |
4/26/23 | Social | James McRitchie | Report on Pay Equity | Against | 30.10% |
4/26/23 | Environmental | Mack Street 2016 Trust, care of As You Sow, together with co-filer Debriana Berlin Rev Tr and co-filer United Church Funds | Report on Climate Transition Planning | Against | 29.90% |
4/26/23 | Governance | National Legal and Policy Center | Independent Board Chair | Against | 16.20% |
4/26/23 | Environmental | New York City Comptroller | Disclosure of 2030 GHG Reduction Goals | Against | 12.90% |
4/26/23 | Social | Service Employees International Union Master Trust | Racial Equity Audit | Against | 11.50% |
4/26/23 | Environmental | Sierra Club Foundation | Policy to Phase Out Fossil Fuel-Related Lending and Underwriting | Against | 6.80% |
4/26/23 | Social | National Center for Public Policy Research | Report on Whether the Company's ETF's in China Align with Human Rights Commitments | Against | 2.40% |
4/28/22 | Governance | John Chevedden | Special Meetings - Reduce Ownership Req. to 10% | Against | 39.28% |
4/28/22 | Governance | National Legal and Policy Center | Require Independent Board Chair | Against | 15.50% |
4/28/22 | Environmental | Sierra Club Foundation | Adopt a Financing Policy Consistant with IEA's Net-zero Emmissions by 2050 | Against | 11.19% |
4/28/22 | Social | National Center for Public Policy Research | Report on Charitable Contributions | Against | 3.10% |
In the News
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Goldman Sachs
Goldman Sachs , Bank of America (Merrill Lynch) , Bank of New York Mellon (BNY Mellon) , JPMorgan Chase , Citigroup