Goldman Sachs Says It Will No Longer Fund Drilling In Arctic

The transcript discusses a bank's plan to invest $750 billion in sustainable development and climate transition by 2030. It highlights regions, including Alaska's Arctic National Wildlife Refuge, where the bank will no longer provide loans for drilling. The bank's CEO emphasizes the urgent need for action and the business case for investing in sustainability. The bank aims to track progress through metrics like carbon reduction and the number of people served. Goldman Sachs is noted as the first major American bank to make such a commitment, joining other banks like the Royal Bank of Scotland and Barclays.

What is the urgent need mentioned by the bank CEO in the opinion piece?

How does Goldman Sachs' commitment compare to other banks?