Finance
Goldman CEO Dismisses Calls to End Ties to Fossil-Fuel Firms
- Solomon responds to question on bank’s support of energy firms
- Activist shareholders have pressed Wall Street to cut ties
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Goldman Sachs Group Inc. Chief Executive Officer David Solomon defended the need to support traditional energy companies, batting away demands from climate activists to abandon their clients in that sector.
“Traditional energy companies are hugely important to the global economy, they are hugely important to Goldman Sachs,” Solomon said at the American Energy Security Summit in Oklahoma City Monday. “We are all going to continue to finance traditional companies for a long time.”