Goldman Sachs will decline financing for new Arctic oil exploration and production and for new thermal coal mine development or strip mining in its updated environmental policy which makes the investment bank the U.S. bank with the strongest restrictions on funding fossil fuels. According to the Wall Street giant’s revised policies, “We will decline any financing transaction that directly supports new upstream Arctic oil exploration or development. This includes but is not limited to the Arctic National Wildlife Refuge.” “For transactions directly financing new thermal coal mine development or any mountaintop removal mining, we will decline the opportunity,” the investment bank’s policies further read. Goldman Sachs will also sit down with companies whose revenues come chiefly from thermal coal mining production to understand their strategies to diversify away from thermal coal mining before considering financing that involves any such companies. “With this policy revision, Goldman Sachs becomes the first […]