This is Exchanges at Goldman Sachs and I'm Allison Nathan of Goldman Sachs.

Today we're going to talk about climate change

and what companies are doing to reduce their carbon footprint, a trend broadly known

as decarbonization. To do that I'm joined by John Greenwoodwood and Cindy Kwan, who are spearheading an effort within our investment banking division to help companies and sovereigns reach their net zero goals.

John is a partner within the financing group and is co-head of the

Division's Sustainable Solutions Council and Cindy is leading corporate

conversations for the newly formed decarbonization group. John and Cindy

welcome to the program. Thank you.

Thanks Allison. The pressure on companies to reduce their carbon

footprint continues to bill. John start by first explaining to us what

decarbonization actually means for companies and how

it's fitting into their overall ESG framework. So we often say that decarbonization

and net zero is the new ESG. So ESG is obviously a very broad concept covering a

company's environmental, social, and governance practices, but in the last year

there has really been a strong focus on the E part of ESG primarily coming from our institutional investors who are now integrating ESG into their investment decisions.

So decarbonization is simply the reduction of carbon intensity or removing carbon from a process.

Why is that important?

There has been a massive focus on climate change and how does the world

combat climate change and I think most of this has around the Paris Agreement which is now that there is a kind of broad alignment

across the world to try to reduce temperature rises to 1.5 degrees Celsius.

And we all have a part in this.

Governments and regulators, companies, and consumers.

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