Inside Our Environmental, Social and Governance Report
Kara Mangone, a vice president on our Investor Relations team in New York, explains the key features and themes of the firm's 2016 Environmental, Social and Governance Report.
What is the Environmental, Social and Governance (ESG) Report and how is it developed?
The ESG Report highlights our approach to sustainability and provides key examples of our efforts over the past year. We publish the report to explain to our clients, investors and other constituents how we integrate sustainability – whether that’s through our work with clients or in efforts related to our own operations. As a global financial services firm, we recognize we are in a position to help address global environmental and social challenges in a wide variety of areas. This report offers us a chance as a firm to take stock of where we are on the sustainability front and set goals for the future. The development of the report is a year-round effort that involves the collaboration of our people across different business lines and regions.
What are some of the key parts of the report?
The report highlights six key themes related to our sustainability efforts. For example, we highlight the business opportunity around sustainability through features on our work with clients on clean energy development and our efforts to grow our ESG and impact investing business in our Asset Management division. There is also an overview of how we manage key sustainability-related risks within our own operations – including how we approach the environment, our people initiatives and corporate governance. It might not be intuitive that some of these subjects fall under the ‘sustainability’ umbrella, but this space is ultimately about risk management and positioning Goldman Sachs for the long-term. Our firm’s ability to attract and retain talent, foster diversity and inclusion in the workplace and helping to address climate change risks are all essential components of that effort.
How would you describe investors’ and other constituents’ interest in the firm’s ESG reporting?
Our investors are naturally interested in how we incorporate sustainability and ESG factors into our operations and how that is part of our long-term business strategy. This includes how we manage ESG-related risks as well as how it relates to our work with clients. As you would expect, there is a lot of variety in how investors approach their overall assessment of a company’s sustainability efforts, but we are seeing it gain increasing importance. We also recognize that these issues are front of mind for our people and those who may be considering a career with us. In the end, our success is tied to attracting great people into the firm, and our sustainability reporting helps us to tell an important part of our story as a company.
Can you describe your responsibilities within Investor Relations?
Working in Investor Relations is dynamic and multifaceted which is also what I like most about it. In a typical day, I need to use a mix of analytical and communication-based skills, and manage relationships with people both inside and outside the firm. I work with many of our investors on a wide range of topics, including our approach to environmental, social and governance issues. A lot of my time is spent collaborating with colleagues across the firm and around the globe. I also work closely with the entire Investor Relations team to analyze our businesses, market trends and competitive positioning and to help prepare the firm for key events, such as our quarterly financial results and management presentations.