高盛（Goldman Sachs）：2020年气候编号投资报告（英文版）（29页）.pdf

1、INVESTING IN CLIMATE CHANGE ISSUE 85 | January 30, 2020 | 6:30 PM EST Equity Research Global Macro Research Investors should consider this report as only a single factor in making their investment decision. For Reg AC certifi cation and other important disclosures, see the Disclosure Appendix, or go

2、 to The Goldman Sachs Group, Inc. On t he heel s of a cl i mat e-focused Worl d Economi c Forum i n Davos, t he unvei l i ng of Europes new Green Deal , and i ncreased at t ent i on on cl i mat e change by t he worl ds l argest asset managers and banks, cl i mat e change i s undoubt edl y Top of Mi

3、nd. We speak wi t h Mi chael Greenst one of t he Uni versi t y of Chi cago, Nat hani el Keohane of t he Envi ronment al Defense Fund and GSs own St eve St rongi n and Jeff Curri e about t he cl i mat e chal l enge, and what i t wi l l t ake t o address i t . We t hen t urn t o GS anal yst s Mi chel

4、e Del l a Vi gna and Al bert o Gandol fi t o di scuss how capi t al market s and cl i mat e pol i cy are dri vi ng t ransformat i onal shi ft s i n t he energy i ndust ry, and what i t means for sect or ret urns. Fi nal l y, our GS SUSTAIN t eam and head of t he GS Sust ai nabl e Fi nance Group, Joh

5、n Gol dst ei n, provi de i nsi ght and advi ce on ESG i nvest i ng and i nt egrat i on, and t he growi ng i mpl i cat i ons of sharehol ders and cl i ent s i ncreasi ngl y demandi ng more account abi l i t y on cl i mat e. Carbon pri ci ng woul d enabl e speci al i zat i on i n fi ndi ng a sol ut i

6、on based on whos best at sol vi ng t he probl em. as opposed t o whos causi ng t he probl em. - St eve St rongi n “ If we end up choosi ng pol i ci es t hat are expensi ve, were goi ng t o run out of ent husi asm before weve made subst ant i al progress agai nst cl i mat e change. carbon pri ci ng i