Banking major Goldman Sachs has updated its sustainable finance commitments to target net-zero financed emissions by 2050, and has confirmed it will develop interim, sector-specific climate targets by the end of 2021. The firm has also committed to reaching net-zero emissions across its supply chain by 2030, having previously only including direct operations in its ambition. The new commitments come after accusations that the bank’s prior climate pledges did not go far enough. Goldman Sachs was accused by advocacy group InfluenceMap, along with other asset management firms, of failing to drive alignment with the Paris Agreement in its portfolio and policy lobbying. Goldman Sachs has not yet revealed whether it will update its exclusions policy as a result of the new targets.

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