Goldman Sachs goes green

The New York Times reports that Goldman has promised to spend its intelectual capital and energy on finding market-based solutions to environmental problems.

Goldman Sachs Group is officially green. The big investment banking firm has announced a policy that details how its 24,000 employees - be they bankers, analysts or purchasing agents - should promote activities that protect forests and guard against climate change… Goldman said it would establish a Center for Environmental Markets to study how the free-market system can solve environmental problems…"We need the right balance between regulation and market-based approaches."

Goldman’s plan includes increased carbon trading and a commitment that their prestigious equity research department will conduct environmental studies.

Update: More via GreenBiz.