Goldman Sachs gets another endorsement as a socially responsible investment
A shareholder making the case for the company as a socially responsible investment is no doubt music to the ears of the Goldman Sachs board.
In this view, an underreported story out of Davos is CEO Lloyd Blankfein's "reason for being there in the first place: To discuss 10,000 Women, Goldman's $100 million initiative to help female entrepreneurs around the world learn more about running and managing their fledgling businesses. 10,000 Women is the sister program to 10,000 Small Businesses: Goldman's $500 billion initiative 'to help small businesses create jobs and economic opportunity by providing them with greater access to business education, financial capital, and business support services.'"
He goes on to say that, "Programs like 10,000 Women can do serious good. And even if there is a public-relations aspect driving the bank's pursuit of initiatives like this, that's OK with me: $100,000 million is no small chunk of change, and it can make a real difference out there for people around the world. Keep up the good work, Goldman -- from an SRI and a business perspective -- and I'll keep singing your praises."
It's an interesting argument. If you want to pursue this, here's the bank's 2011 ESG report. I do not yet see the report for 2012.
- here's the essay
Goldman Sachs a socially conscious investment idea