Goldman Sachs, Fidelity sign sustainable trading pledge
Goldman Sachs Group Inc.
The sustainable Trading initiative helps companies enhance their ESG practices across the trading industry. Recently 11 new names were added, including big fishes, such as Goldman Sachs and Fidelity International.
Capital Group, Cboe Europe, Citi, Cowen, Fidelity International, Fidelity Management & Research Company, Goldman Sachs Asset Management, Goodbody, Northern Trust, Verne Global and Wellington Management have joined Sustainable Trading. It brings the total number of members joined to 41 as of now.
Founder and director Duncan Higgins of Sustainable Trading said:
"We are delighted to welcome this prestigious group of firms to Sustainable Trading. Their enthusiasm to participate, and their commitment to contributing time, resources and expertise, reflects the increasing importance of ESG considerations in firms’ decision-making frameworks. This spirit of collaboration will accelerate the pace of ESG change within the trading industry.”
State Street Global Advisors, Bank of America, Credit Suisse, and the London Stock Exchange Group were among the 30 founding members of the Sustainable Trading network in February 2022. Its mission is to bring companies together to find effective solutions to industry-specific ESG concerns and a self-assessment and benchmarking mechanism. The group has also said that it will oversee a benchmarking and transparency framework for creating a portfolio of ESG best practices for the trading business.
Simon Steward, head of European equity trading at new member Capital Group, said:
“We believe evaluating ESG risks and opportunities are an essential part of generating long-term investment results for our clients and it forms an integral part of Capital Group’s investment approach. We are delighted to be joining the Sustainable Trading Initiative to help create and develop ESG best practices for trading within financial markets.”
Tom Stevenson, head of EMEA equity trading at Fidelity International, said:
“We are pleased to join the Sustainable Trading member’s network as part of Fidelity International’s wider sustainable strategy. We believe by working together with our peers we can help to develop industry best practices and bring about positive change. We look forward to collaborating with members globally and across asset classes as the trading industry comes together to help deliver a more sustainable future.”