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Goldman Sachs Gets A Presidential Pat On The Head

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President Obama took a little trip to a Bay Area Wal-Mart on Friday to tell Goldman Sachs that it’s doing God’s work. But it already knew that.

Goldman Sachs Group Inc.’s work financing and investing in clean-technology companies drew a mention Friday from President Barack Obama.

“We’ve got public banks like Connecticut’s Green Bank and private banks like Goldman Sachs ready to invest billions in renewable energy,” the president Friday said during a speech at a Wal-Mart in Mountain View, Calif….

“There was a community of people who were astonished (with that goal), and thought we’d never achieve that,” said Stuart Bernstein, global head of Goldman’s clean-technology and renewables group, who was on hand to hear the president’s speech. “But we’ve already gotten to $13 billion toward that target….”

On Friday, Goldman announced another target: $10 billion toward U.S. renewable-energy projects by 2021. The New York-based bank’s initiative was among the 300 private- and public-sector commitments the White House unveiled Friday to promote deploying solar power sources and energy efficiency.

Goldman’s Clean-Tech Activities Receive a Presidential Shout Out [WSJ MoneyBeat blog]



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