The Goldman Sachs Climate Fund is the world's largest and most diversified climate fund.

On 10 January 2023, Goldman Sachs Asset Management made history by closing a record-breaking $1.6 billion fund for Horizon Environment & Climate Solutions I (Horizon Climate). This new fund, managed by Goldman's Sustainable Investing Group, is dedicated to investments promoting "key sustainability trends" and has committed nearly one billion dollars into twelve different Portfolio Companies. Enabled by the Sustainable Financial Disclosure Regulation, investments in green innovation are now being seen in North America. This money is making a real impact, from lithium-ion batteries and recycled cotton fibres to sustainable packaging materials and agricultural water efficiency. The fund is also looking to accelerate the transition to clean energy sources with a focus on the following:

- Transitioning transportation fleets towards sustainability

- Reducing waste and materials consumption in daily life

- Creation of more efficient food supply chains

- Supporting sustainable agriculture systems and ecosystem services.

Goldman's Chief Investment Officer for Asset & Wealth Management, Julian Salisbury, highlighted the capability of private capital to propel cutting-edge technologies that will impact our effort against climate change. Ken Pontarelli from Goldman Sachs AM also added that they strongly desire to continue backing revolutionary green businesses to support the transition into a more sustainable economic model.?

With the world now paying keen attention to environmental and social sustainability, companies backing the 'green wave' are well placed for significant returns ahead. Goldman Sachs has set aside an impressive $750 billion in an ESG-focused fund, affirming their commitment to sustainable finance and showing that green business opportunities do exist for those willing to take the lead. Furthermore, they have chosen to remain strictly compliant with Article 9 classification, despite the stricter regulations that come with it. This indicates their faith in meeting sustainability goals and the hope that their bold move will be echoed by other organisations looking to make intelligent investments.

How Organisations Can Best Direct Their Capital

As the climate crisis continues to threaten our planet, organisations must take decisive steps with their capital to help make a real difference. This can include:

- investing in more 'green' projects and initiatives

- shifting away from fossil fuels

- investing in companies with strong ESG standards

- improving the efficiency of internal operations.?

It is important to shift portfolios away from fossil fuels such as oil and gas and towards renewable energy sources like solar, wind, hydropower and geothermal. Additionally, investing in ESG-compliant companies can help to reduce greenhouse gas emissions, decrease water consumption and promote better waste management systems. Organisations can also look at how they can improve their internal operations with regard to energy efficiency. Actions such as switching to LED lighting, replacing older equipment with energy-saving models, and setting up renewable energy sources such as solar panels or geothermal systems for electricity generation are all possible improvements. Cloud computing technology can also help to reduce the reliance on paper documents for digital storage purposes.?

Finally, organisations can use their influence and resources to support government initiatives designed to protect the environment. This could involve lobbying for better regulations around greenhouse gas emissions or providing financial support for clean energy research projects and green technologies. Organisations have an important role in creating a healthier future and confronting the climate crisis with bold action. By investing responsibly with a long-term view, organisations can make a major difference in reducing emissions and supporting businesses committed to positively impacting the environment.

The OceanBlocks Approach

Our company, OceanBlocks, is proud to announce its groundbreaking entrance into the market with a mission to reduce greenwashing and make real progress in combatting climate change. We have developed an end-to-end blockchain-based platform to monitor, track, and trade carbon credits, providing an equitable way for organisations to offset their carbon footprints and reduce emissions. The platform will be powered by an open-source blockchain ledger that records each transaction of carbon credits, providing users with complete transparency on where their money is going and helping to eliminate greenwashing practices. Furthermore, the platform allows buyers and sellers of carbon credits to connect directly and facilitate more efficient transactions between parties.?

At OceanBlocks, we are committed to driving real change through our innovative blockchain-based platform, which will help prevent greenwashing and provide equitable access to carbon markets for organisations looking to offset their carbon footprints. We are also excited to provide our users with our Climate Change Risk Analysis Suite (CCRAS), which uses advanced algorithms and data analysis techniques to provide greater insight into how climate change risk could affect their businesses in the future. In addition, to ensure quality projects and initiatives are being transacted, we have teamed up with leading environmental organisations such as ClimateCare, which helps identify projects that have a strong social impact while at the same time reducing emissions. Our goal is to make it easier for individuals and organisations alike to do their part in fighting climate change through responsible investment decisions.