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Goldman Sachs forming new group focused on sustainable investing – Bloomberg

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Goldman Sachs forming new group focused on sustainable investing – Bloomberg

Ken Pontarelli is going back to Goldman Sachs Group Inc. as a partner to head a group focused on sustainable investing, such as opportunities in clean energy and waste, Bloomberg News reported Oct. 8.

The new group will be under the merchant-banking division, the news outlet reported, citing a memo sent to employees Oct. 8. It is part of Goldman's 10-year commitment, under which the investment bank targets $750 billion in sustainable financing, investing and advisory activities.

The group will also include Letitia Webster and Jeff Possick as managing directors, Bloomberg reported, citing a separate memo. Webster and Possick will come from Mission Driven Capital Partners LLC, an investment firm that Pontarelli formed after he departed from Goldman in 2017. At Mission, Webster was a partner and chief sustainability officer, while Possick was a partner who headed investments in the sectors of food, waste and water.

Also joining the new Goldman team is Vikas Agrawal, who leads the alternative-energy investing group at the investment bank.

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