Goldman tackles climate risk controls

Lender joins other banks in translating physical and transition threats into controls framework

Goldman Sachs headquarters on a foggy day in New York City

Goldman Sachs is working to hardwire controls into its risk management framework to help it guard against the risk of loss from climate change – a process it expects to complete by the end of this year.

“It’s one of our top risk priorities – not just [for] Goldman, but for the industry,” says David Wildermuth, deputy chief risk officer at Goldman Sachs. “We spend a lot of time talking to our peers, and people are approaching it from the same perspective – but, obviously, there are a lot of