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Information Technology : Software | Large Cap Growth
Company profile

Zoom Video Communications, Inc. is a provider of video-first communication platform and Web conferencing services. It offers cloud-native platform, which unifies cloud video conferencing, online meetings, group messaging and a software-based conference room system, which enables users to easily experience Zoom Meetings in their physical meeting spaces. Its solution offers video, audio and screen-sharing experience across Windows, Mac, Linux, Android, BlackBerry, Zoom Rooms and H.323/Session Initiation Protocol room systems, such as Polycom and Cisco Tandberg. Its solutions include Meetings, Premium Audio, Business Instant Messaging (IM), Video Webinar, Zoom Rooms, H.323/SIP Connector and Developer Platform. Its cloud video conferencing solutions include full screen and gallery view, and dual stream for dual screen. Its security solutions include secure socket layer (SSL) encryption and role-based access control. It offers its solutions to education, finance and government sectors.

Price
Delayed
$320.50
Day's Change
-1.28 (-0.40%)
Bid
--
Ask
--
B/A Size
--
Day's High
321.00
Day's Low
313.50
Volume
(Below Average)

Today's volume of 611,006 shares is on pace to be lower than ZM's 10-day average volume of 3,259,484 shares.

611,006

Goldman Sachs pushed to disclose if financing works against net-zero emissions goal

3:09 pm ET March 4, 2021 (MarketWatch)
Print

Rachel Koning Beals

Goldman is the fifth of the six largest banks to agree to interim updates on emissions tied to energy firms and others who receive financing

Goldman Sachs said Thursday it is joining other major U.S. banks in committing to align financing activities with a net-zero emissions pathway by 2050 and set interim targets by the end of 2021.

The financial-services giant offered the quickened timeline in an update issued roughly a year after it set sustainability targets but still came under continued criticism, along with its peers, for not revealing more along the way to 2050. Green-minded investor groups and other shareholder representatives have pushed for more frequent updates and more transparency, particularly as U.S. financial institutions continue to fund the fossil-fuel industry.

Goldman Sachs(GS) is the fifth of the six largest U.S. banks to make a long-term commitment to align financing activities with the goals of the Paris Agreement (https://unfccc.int/process-and-meetings/the-paris-agreement/the-paris-agreement).

The bank and its rivals have drawn criticism that despite such pledges, they continue to finance growth in the traditional energy sectors tied to global warming.

Read: Biden matches Obama's 'social cost of carbon' for now -- it's a figure roughly 50 times greater than Trump's (https://www.marketwatch.com/story/biden-matches-obamas-social-cost-of-carbon-for-now-its-a-figure-roughly-50-times-greater-than-trumps-11614380130)

In the last few weeks both Bank of America(BAC) and Citigroup(C) have joined JPMorgan Chase(JPM) and Morgan Stanley(MS) in adopting net-zero goals.

In fact, newly crowned Citigroup CEO Jane Fraser outlined (https://www.bloomberg.com/news/articles/2021-03-01/on-fraser-s-first-day-as-citi-ceo-bank-vows-net-zero-emissions) her firm's net-zero greenhouse-gas emissions target earlier this week.

Financing of fossil fuels (http://link.mediaoutreach.meltwater.com/ls/click?upn=f0qoZiyhuc4t-2FBV65b-2FwCbHaxXcGEMA07yzvjiufXGWiDhD9zue8qfjf1yG9Ppvpz9EPYGsMJLl4DZFH6os8sQ-3D-3DtTSS_K6Tu1kQ0qTt2joW-2Bi8oUXL9cfCVRddOR-2BaFh2AYgzmfocVvJCKrAdhLyI75hYxBr0mbw6OA-2FXjNfMGZl20QksNjSns3ybWFopxo7w1sp1iMvpKnbZaJbrHFusxgtduG3vI14J5YyyGpyaPTZ8bdbVbG-2BcANrcTYzvqa-2Bczze5RRoVTRqGINd-2BJsoTLcOwfCW-2FONpiw5hF7dyVranm0zY0tahXhdHAC3qRkaV5QTwr4hc1TQNGo5Y26-2Bznhe0n4H2IdD8xHESBKDjhorS-2F8VvPoVmC78S06V33-2FiVGPuKI-2FFrNRCAPYPCE8cG8LXfmgAJfY8vmKz6ze6beQMMFYexoWtC-2BGqL7WGM2Y3qasfwl0FjwfpTKB6EaoExkRt71ThuabffswjRitzilNsiz1ugvA-3D-3D) by four out of six of the largest U.S. banks increased in 2019, the latest year for complete data. Only JPMorgan Chase and Wells Fargo reduced fossil fuel financing in 2019, but still remain two of the top financiers overall. Goldman ranks 17th.

In a release (https://www.goldmansachs.com/media-relations/press-releases/2021/announcement-04-mar-2021.html), Goldman repeated its pledge of last year that said by 2030 it will target a total of $750 billion in financing, investing and advisory activity to nine areas focused on climate transition and inclusive growth.

"In the past year, we reached $156 billion of our total [intended for sustainable efforts], including $93 billion dedicated to climate transition. The fact that we surpassed a fifth of our goal in a single year demonstrates that sustainable finance has already become a core offering from Goldman Sachs -- and the demand among our clients shows no signs of slowing down," said Goldman CEO David Solomon.

Goldman has also joined the United Nations' Principles for Responsible Banking (https://www.unepfi.org/banking/bankingprinciples/signatories/), a group of 217 firms that agreed to align their businesses with global efforts to address climate change and other sustainability issues.

Read:Ignore climate change at your own risk, says BlackRock -- green-energy transition will drive 25% output growth by 2040 (https://www.marketwatch.com/story/ignore-climate-change-at-your-own-risk-says-blackrock-green-energy-transition-will-drive-25-output-growth-by-2040-11614285115)

The company also participates in the OS-Climate Initiative as its founding U.S. bank member. As part of this broad coalition, Goldman, alongside partners including Amazon(AMZN), Microsoft(MSFT), Allianz and the U.N. Net Zero Asset Owner Alliance will work to develop an open-source data commons and net-zero alignment tools that can be used across industries to track emissions and other information that investors increasingly demand.

"This welcome announcement from Goldman Sachs underscores a strong momentum in the financial arena to ensure that global financing streams are tied to time-bound, science-based climate progress," said Danielle Fugere, president of As You Sow, which works to bring proxy action by corporate boards on climate issues.

Shares of Goldman Sachs are up 66% over the past year, a timeframe in which the Dow Jones Industrial Average is up 18%.

-Rachel Koning Beals; 415-439-6400; AskNewswires@dowjones.com

	

(END) Dow Jones Newswires

March 04, 2021 15:09 ET (20:09 GMT)

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