This is Exchanges at Goldman Sachs and I'm Allison Nathan, senior strategist in Goldman Sachs research,

and creator and editor of the firm's Top of Mind report.

In this episode, we're focusing on climate change.

We'll be bringing in some outside voices to explore one of the key takeaways that emerged

from the recent UN Climate Change Conference in Glasgow, that the private sector is now stepping

up to tackle the climate problem. Now this is obviously a

positive development climate change is a global problem that will require efforts

from all sides to solve. But we dig into what role the private sector and ESG

investors in particular should really be playing, how effective current

investor strategies really are in moving the needle on climate goals,

and how these strategies square with asset managers

fiduciary responsibility to their clients

to maximize returns.

The answers to these questions are top of mind.

To start to answer them, we first speak with Mark Carney.

He of course served as the Governor of the Bank of England to end before that of the Bank of Canada

and is currently the UN Special Envoy for Climate Action and the

co-chair of the Glasgow Financial Alliance for Net Zero, which, full disclosure, Goldman

is a part of. He emphasizes that solving the climate crisis will require a total of

four trillion dollars a year in investment through 2050 and the private sector and

especially financial institutions have a key role to play in providing this capital.

There has been a quantum leap in terms of private sector engagement since Paris.

...