Goldman Sachs refuses to fund new oil drilling in the arctic, and will invest in sustainability instead
According to the Guardian, since the Paris climate agreement was signed in 2016, $700 billion (yes, with a b) in financing had been provided to fossil fuel companies by the world's largest banks. JP Morgan Chase alone provided $75 billion to expand fracking operations and Arctic oil and gas exploration. It's not great, considering the United Nations' Emissions Gap report says we have to cut emissions by 55% by 2030.
Between 2016 and 2018 Goldman Sachs invested $59 billion in fossil fuels, the industry's 12th biggest banker. Now, things are changing, and it's not just the climate. Goldman Sachs recently updated their energy policy for the 21st century, announcing they will no longer provide financing for new Arctic oil drilling or exploration for oil in the Arctic, including the Arctic National Wildlife Refuge. They will also stop investing in coal-fired power projects or new thermal coal mines anywhere in the globe. The policy doesn't cover fracking.