exo-is/governance-reporting-on-listed-companies huggingface dataset:
Keyword: governance
range of compliance topics. See Ethics.Introduction Strategy Environment Innovation Social Governance Appendix 2023 Sustainability Report 75
Risk Management GM’s vice president sustainable workplaces and chief sustainability External Stakeholder Dialogue
officer, reporting to the executive vice president of global
The Board has overall responsibility for risk oversight and focuses manufacturing and sustainability, is the enterprise-wide leader For the past decade, our Global Sustainability Team has
on the most significant risks facing GM. It discharges these for sustainability initiatives, and develops and coordinates engaged with stakeholders through Ceres, a nonprofit
responsibilities, in part, through delegation to its committees. At sustainability strategy and efforts across the company. GM’s chief organization dedicated to transformin
Keyword: governance
the management level, the company’s risk governance structure diversity, equity and inclusion officer, reporting to the senior vice a sustainable future for people and the planet.
is facilitated through a top-down and bottom-up approach. The president and chief people officer, is the enterprise-wide leader
In November 2023, Ceres convened a diverse group of
Senior Leadership Team appoints members to our Risk Advisory for DEI initiatives, and develops and coordinates DEI strategy and
stakeholders to provide recommendations and feedback that
Council, an executive-level body with delegates from each efforts across the company.
we will use to develop our approach for designing our vehicles
business unit, to discuss and monitor the most significant business
The ESG Disclosure Committee is a cros
Keyword: governance
corporate governance, finance and securities. • Ideate on how GM can design circularity into its vehicles
See our approach to managing climate-related risks in our Task
up front
Force on Climate-Related Financial Disclosures (TCFD) Report.
Shareholder Engagement • Identify the most appropriate and useful metrics for
measuring the circularity of GM’s vehicles
Governance
Members of the Board and senior management regularly engage
• Establish stakeholder expectations for GM’s
with institutional shareholders. These engagements help us collect
The Board oversees sustainability principles throughout the end-of-life management
feedback on various topics, including strategic and financial
enterprise and has delegated specific sustainability oversight
performance, oper
Keyword: governance
ations, products, supply chain governance,
responsibilities to each of its committees.
executive compensation and Board composition and leadership
At the management level, GM’s Senior Leadership Team structure, as well as on important environmental and social issues.
establishes and executes the company’s sustainability strategy. The constructive insights, experiences and ideas exchanged during
This cross-functional group of senior leaders drives GM’s these engagements have helped the Board evaluate and assess
sustainability initiatives throughout the company, from global key initiatives during GM’s ongoing transition to an all-electric
product development, portfolio planning, manufacturing and future. Learn more about these engagements with shareholders
supply chain and purchasin
Keyword: governance
Resources Team and the ESG Disclosure Committee.Introduction Strategy Environment Innovation Social Governance Appendix 2023 Sustainability Report 76
Environmental • Monitor our performance according to our own Environmental Environmental Management System
Performance Criteria (EPCs), which are universal corporate
(EMS)
performance requirements designed to protect human health
Management and
and the environment in accordance with the GM Global
All manufacturing facilities that GM owns and operates, and most
Environmental Policy
Compliance of our global nonmanufacturing sites, have implemented an EMS.
• Conform to key sustainability performance indicators and Our EMS combines elements of International Organization for
environmental performance metrics Standardization (ISO) 14001 and management system elements
that are unique to our operations.
GM is
Keyword: governance
States. We paid three penalties over $10,000.Introduction Strategy Environment Innovation Social Governance Appendix 2023 Sustainability Report 77
Environmental Performance Criteria GM has also established policies, procedures and supplier Every new employee working in a plant participates in an
engagement to monitor banned substances and protect the orientation training that includes environmental training.
We implement GM EPCs in support of our environmental health of our customers. We receive supplier data monthly and Employees that need specific environmental management skills or
compliance efforts under our Global Environmental Policy at cross-reference it with known restricted substances lists to knowledge for their role will receive additional training.
our global facilities and major technology centers. The EPCs ensure compliance with re
Keyword: governance
chemicals that pose a significant health or environmental hazard.Introduction Strategy Environment Innovation Social Governance Appendix 2023 Sustainability Report 78
We regularly conduct independent third-party assessments of
Ethics Recognized
our compliance program and completed our most recent review
in 2022. We have also developed a risk assessment protocol that
In 2024, for the fifth year in a row, GM was the only
will modernize the GECC’s ability to assess risk using quantitative
original equipment manufacturer (OEM) automaker
GM is dedicated to maintaining an ethical and qualitative data, and launched our first risk assessment survey
recognized as one of the World’s Most Ethical
performance culture and living up to our core values Companies® by Ethisphere using the new protocol in 2023.
and behaviors in everything that we do.
The GECC will continue to play a
Keyword: governance
communications and misconduct reporting.Introduction Strategy Environment Innovation Social Governance Appendix 2023 Sustainability Report 79
Code of Conduct Reporting Concerns 2023 Allegations Received
GM’s Code of Conduct—Winning with Integrity—reinforces our We encourage our employees to speak up and provide resources
Category Proportion
commitment to maintain a work environment founded on integrity, to do so. Our internal “Report Concerns” site helps employees
of total
mutual respect, trust and accountability. It outlines the policies quickly identify the most effective way to report their concern.
and obligations that guide our conduct. The Code also includes Accounting, Auditing and Financial Reporting
The GM Awareline—operated by an independent third party—
information on the mechanisms available to report safety and Examples: Fraud
Keyword: governance
complete the global expansion in 2024.Introduction Strategy Environment Innovation Social Governance Appendix 2023 Sustainability Report 80
Ethics Training and Education 2023 Ethics & Compliance Training Winning with Integrity at the Speed
of Business
To reinforce our ethical culture, we educate employees about how
to apply our standards and principles at work. The GECC uses 292K GM’s Compliance and Ethics Week, held in May 2023,
insights from external ethics and compliance thought leaders and emphasized that integrity is fundamental, the importance
internal subject matter experts to develop multi-year training, of our Speak Up/Listen Up Culture and the importance of
approximate online courses delivered
education and policy certification plans, which are reviewed by a protecting GM’s confidential information. During Compliance
cross-funct
Keyword: governance
ional training governance board. and Ethics Week, we engaged employees through leadership
messages and interviews, a pulse survey, compliance toolkits,
400K Speak Up! video and infographic and other measures to
promote our Win with Integrity behavior.
To ensure the effectiveness of our training, we approximate in-person advanced
regularly conduct third-party assessments of compliance training modules delivered
our training program against Department of
Justice and benchmarking resources, such as 67K
Ethisphere’s World’s Most Ethical Companies®
Evaluation Framework. approximate employees and select
contractor workers who completed ethics
and compliance training
We require all eligible salaried employees to complete Corporate
Required Training courses annually. This
Keyword: governance
entertainment and conflicts of interest processes as needed.Introduction Strategy Environment Innovation Social Governance Appendix 2023 Sustainability Report 81
Public Policy Further, we support policies that accelerate the EV transition Corporate Political Contributions and
to ensure the United States can remain globally competitive.
Lobbying Expenditures
New technologies take time to scale and reduce costs—EVs are
no different, but we are determined to ensure that the U.S. auto
We believe we should make meaningful contributions to shaping
Our global commitment to advancing an all-electric, industry leads the way in transportation electrification.
public policy and addressing legislation that impacts our
zero emissions future is unwavering. GM consistently
We advocate for states to implement the National Electric Vehicle company, industry and stakeholders. W
Keyword: governance
and fully autonomous vehicle technology services with Cruise.Introduction Strategy Environment Innovation Social Governance Appendix 2023 Sustainability Report 82
Appendix
Estimated Impacts
Calculation Assumptions
1. Intensity reduction was calculated by subtracting the EV
intensity from the ICE intensity.
2. KWh/100 mile for the 2024 Chevrolet Silverado EV, 2024 GMC
HUMMER EV Pickup and 2024 Chevrolet Blazer EV AWD are based
on the EPA accepted combined value.
3. The grid emission factor used for the calculations is 857.0 lb/
MWh. This is from the 2021 US average grid factors from the EPA.
4. Comparable ICE performance data came from the US EPA
Automotive Trends Report “Estimated Real World MPG” using
the 2022 model year and the Pickup (20) and Car SUV (33.4)
vehicle types.
5. The following factors were used in the calculation to determine
a FTP well-to-wheel
Keyword: tax
tax equity, sustainable urban development, and sustainable-
Client Products and Solutions: A growing range of products
themed products such as structured notes, custom baskets, and
and custom capabilities for clients that include:
portfolio transition trades
• Incorporation of climate and inclusive growth considerations across
ESG Financing and Investor Connectivity: Traditional and innovative
certain funds, as well as products dedicated to those themes
debt and equity financing products, ESG investor connectivity
• Development of dedicated internally managed, comingled,
Sponsor/Client Coverage and Analytics: Coverage resources for
and custom options spanning both public and private markets
ESG content and support for ESG-oriented investors an
Keyword: tax
the preservation of existing affordable housing. The Low-Income Housing Tax Credit (LIHTC), created
in 1986, provides tax credits to private developers who agree to keep rents at specified percentages
of Area Median Income (AMI). From 1987 to 2009, approximately 2.2 million units were developed
through LIHTC, representing nearly one-third of all new multifamily rental housing.1 After 15–30
years, the affordability requirements expire, and rents typically revert to market rate. By providing
competitive financing contingent on continued affordability, investors and financial intermediaries
can help maintain housing affordability in existing LIHTC properties and prevent turnover and
resulting instability in affordable housing driven by rent increases.
CASE STUDY
Preserving LIHTC Affordability in the Project Horizon P
Keyword: tax
as a source of any specific investment recommendations. Goldman Sachs is not providing any financial, economic, legal, accounting, or tax
advice or recommendations. All investments involve risk, and past results do not guarantee future returns. Goldman Sachs encourages you
to consult with your advisors on whether environmental, social and governance (ESG) investing is appropriate with your holistic investment
strategy before investing. Neither Goldman Sachs nor any of its affiliates makes any representation or warranty, express or implied, as to the
accuracy or completeness of the statements or any information contained in this document and any liability therefore (including in respect
of direct, indirect, or consequential loss or damage) is expressly disclaimed.
This document, including any case studies that may be part of it, is not intended to make representations as to t
Keyword: governance
59 Governance
62 Risk Management
Introduction
5 64 Regulatory Preparedness
6 About Goldman Sachs
7 Historical Sustainability Milestones at Goldman Sachs
Metrics and Targets
9 Our Sustainable Finance Strategy 65
14 Our Sustainable Finance Framework and Sustainable
Finance Commitment 66 Progress Toward Our Firmwide $750 Billion Sustainable
Finance Commitment
68 Progress Toward Our 2030 Sectoral Targets
69 Progress Toward Our Operational and Supply Chain
Thematic Opportunities With Commitments
16
Our Clients and Partners 74 SASB Index
79 Thematic Index for Our Existing Sustainability Disclosures
17 Leveraging Data and Metrics for Better Decision-Making
24 Mobilizing Transition Finance Through Public-Private
Partnerships
Appendix¹
80
31 Unlocking Economic O
Keyword: governance
Tierra del Fuego at the southern governance-related topics will
tip of South America impact sustainable investing and
broader capital flows
2009 2012 2014 2015 2019
Launched 10,000 Small Businesses, Inaugural clean energy 10,000 Women and International Reached carbon neutrality Established the Sustainable
serving over 17,000 entrepreneurs financing and investment Finance Corporation launched the across operations and Finance Group
to date, representing more than target set Women Entrepreneurs Opportunity business travel
Announced $750 billion
330,000 employees and $33 billion Facility, reaching more than
Acquired Imprint Capital Sustainable Finance
in total revenue 200,000 women entrepreneurs
Advisors Commitment by 2030
and unlocking ~$7.5 billion in loans
to women-owned businesses
Keyword: governance
rules of how they link together across topics. Supporting strong data governance, it provides tools to help users translate
between different models, track lineage back to authoritative sources, and compare multiple primary sources — u ltimately
forming a common data language to enable data integrity and connectivity to support our businesses and clients.
Since its launch, ESG Beacon has enabled more effective and efficient sharing and validation of underlying corporate
emissions and investments data to evaluate climate-related risks and opportunities, monitor progress on public
sustainability commitments, and prepare for the evolving sustainability reporting landscape.
1 Subject to firm policies, procedures, and controls.
GOLDMAN SACHS 2023 SUSTAINABILITY REPORT 1903 | Thematic Opportunities With Our Clients and Partn
Keyword: governance
firm, integrating governance, risk management, and regulatory preparedness.
We continually evaluate and enhance our governance structures, policies,
and practices, while fostering a culture where risk management is ingrained
in our decision-making process. Our risk frameworks cover a range of climate,
environmental and other social-related risks, while our risk appetite adapts
to changing market conditions. Both governance and risk management are
key to regulatory preparedness, allowing Goldman Sachs to stay positioned
for growth while meeting regulatory requirements.
In This Section
59 Governance
62 Risk Management
64 Regulatory Preparedness
GOLDMAN SACHS 2023 SUSTAINABILITY REPORT 5804 | Protecting the Value of Our Firm
Governance
Responsibly managing our business i
Keyword: governance
Directors to internal governance structures, we manage a broad spectrum of financial and
nonfinancial risks across our businesses. This includes the evaluation of sustainability-
related opportunities, management of climate and other sustainability-related risks, and
preparation of our voluntary and regulatory-required sustainability disclosures.
Goldman Sachs Sustainability-Related Organizational Structure
Board Oversight
Goldman Sachs
Board of Goldman Sachs Group Board of Directors and Committees
Directors
Subsidiary Subsidiary Boards
Boards
Internal Governance
Senior
Management Firmwide Enterprise Risk Committee Firmwide Reputational Risk Committee
Committees
Sustainability
and Climate-
Firmwide Sustainability Steering Group Sustainable Asset Working Group
Focused
Foru
Keyword: governance
GOLDMAN SACHS 2023 SUSTAINABILITY REPORT 5904 | Protecting the Value of Our Firm | Governance
Board Oversight Internal Governance
Senior Management Committees
Board of Directors
Various senior management committees and groups oversee our
The Goldman Sachs Group, Inc. Board of Directors and its
transaction selection decisions and risk management processes.
committees are responsible for overseeing the business and affairs
The Firmwide Enterprise Risk Committee (ERC) is responsible
of our firm, including oversight of the management of the firm’s
for overseeing all of our financial and nonfinancial risks, including
most significant risks.
climate-related risk. The ERC, through its oversight of the Enterprise
Given the interdisciplinary nature of the oversight of sustainability, Risk Management Framework, monitors the firm’s risk profi
Keyword: governance
governance, including with respect to climate risk. As part of In addition to senior management committees, several firmwide
its oversight, the Risk Committee receives periodic updates forums are focused on convening key senior stakeholders from
on our climate risk management approach, including scenario across our businesses and corporate functional groups to oversee
analysis capabilities and integration into existing risk climate and other sustainability-related issues.
management processes.
The Sustainability Steering Group convenes key senior
stakeholders, including those from the Sustainable Finance Group
Public Responsibilities Committee
(SFG), Risk, Controllers, Global Banking & Markets (GBM) and Asset
The Public Responsibilities Committee of
Keyword: governance
reviews our governance and related policies and processes for Energy, Power and Auto Manufacturing, and associated voluntary
sustainability and climate-related matters. reporting. Further, the group oversees firmwide regulatory
sustainability implementation, including oversight of sustainability
Subsidiary Boards reporting requirements.
As applicable, boards of our subsidiary entities around the globe
may provide additional oversight of sustainability matters as may
be required from time to time.
GOLDMAN SACHS 2023 SUSTAINABILITY REPORT 60Governance end of section
04 | Protecting the Value of Our Firm | Governance
The Sustainable Asset Working Group (SAWG) discusses, Other Internal Functional Groups outside the EO include
guides, and validates sustainable client
Keyword: governance
priorities. The EO also partners with the businesses to source and governance strategies across the firm. As part of CPM, the
high-impact opportunities in line with the firm’s sustainability- Sustainable Operations team manages the firm’s operational and
related objectives. supply chain sustainability-related goals, including our commitment
In addition to SFG, which leads the advancement of firmwide to achieve net zero by 2030, and partners with Corporate &
sustainability strategy, other EO teams supporting the firm’s Workplace Solutions to deliver environmentally responsible
workplace solutions.
sustainability strategy include the Office of Government &
Regulatory Affairs (OGRA), Investor Relations (IR), and the Data Engineering is the group that seeks to deliver fast, easy
Office of Corporate Engagement (OCE). OGR
Keyword: governance
engagement with equity and debt investors, research analysts, data governance throughout the firm. Within Data Engineering is
rating agencies, credit counterparties and sustainability-focused ESG Beacon, a team focused on sustainability data and shared
stakeholders. The team also collaborates with key internal tooling to streamline use and ensure strong governance. The team
constituents on competitive positioning, firmwide strategic initiatives, sources, ingests, models, and delivers shared sustainability data
and capital and resource management. OCE leverages our capital , to businesses across the firm.
people, and innovations to help address economic and societal
challenges, catalyze markets, and transform communities.
GOLDMAN SACHS 2023 SUSTAINABILITY REPORT 6104 | Protecting the Value of Our Firm
Risk Management
Keyword: governance
risk management controls, and governance processes. Internal Audit
reports to the Board Audit Committee.
GOLDMAN SACHS 2023 SUSTAINABILITY REPORT 62Risk Management end of section
04 | Protecting the Value of Our Firm | Risk Management
Other Environmental and Social Risk Management
As our risk management modeling evolves, we are increasingly Guidelines and Policies
considering climate-related risks alongside other environmental
Our perspectives on sustainability are informed by our stakeholders ,
and biodiversity risks such as seismic and water stress risk. We also
including investors, nongovernmental organizations and regulators —
integrate and manage environmental and social risks through risk
and they help us to better advise our clients in terms of how to
assessment and report
Keyword: governance
regulatory and reputational environmental, social and governance
risks, including reputational risks, are escalated for enhanced review
risks. Select teams within the Risk division also guide environmental,
and business selection discussion. Several teams are involved in
health and safety standards for our investing activities and perform
helping businesses identify and mitigate potential environmental
Environmental, Health and Safety (EHS) due diligence on proposed
and social risks, including our Business Intelligence Group, SFG, and
investment transactions to help business teams identify and mitigate
Operational Risk. For several sectors with particular environmental
potential risk.
sensitivity (e.g., Oil & Gas, Chemicals, Metals & Mining, Forestry,
Water), business teams are equipped with enhanced du
Keyword: governance
In June 2023, global sustainability standard setter International existing governance and oversight structures and developing and
Sustainability Standards Board (ISSB) published its inaugural IFRS S1 implementing our longer-term operating model. We are designing a
(General Requirements for Disclosure of Sustainability-Related flexible operating model to meet our voluntary reporting objectives
Financial Information) and IFRS S2 (Climate-Related Disclosures) as well as to comply with existing and additional forthcoming
standards. With its goal to create a global baseline of consistent, mandatory reporting requirements across other jurisdictions.
comparable, and decision-useful sustainability information for
Continuing to prepare for this shift in sustainability reporting
investors that could be used alongside financial statem
Keyword: governance
the Corporate Governance section of our website. For more information about our financial and
nonfinancial regulatory disclosures, please visit the Regulatory Disclosures section of our website.
GOLDMAN SACHS 2023 SUSTAINABILITY REPORT 64SECTION 05
Metrics
and Targets
Our overall sustainability strategy is supported by specific metrics and targets
that help us track progress, report to our stakeholders, and drive our business
decision-making.
These metrics and targets support our strategic objective of working with our
clients to help them achieve their sustainability goals, while managing our firm’s
sustainability-related risks and opportunities.
In This Section
66 Progress Toward Our Firmwide 74 SASB Index
$750 Billion Sustainable 79 Thematic Index for Our
Finan
Keyword: governance
governance (ESG) issues,
and Advisory (2) sustainability themed investing,
and (3) screening
Description of approach to FN-AC-410a.2 At Goldman Sachs Asset Management, we believe ESG factors can
incorporation of environmental, be important tools for identifying investment risk and capturing
social and governance (ESG) opportunities on behalf of our clients. Our approaches to ESG
factors in investment and/or integration will vary by investment team and asset class and Goldman
wealth management processes Sachs​Asset​Management’s​Statement​on​Sustainable​Investing — P​ublic​
and strategies Investing sets out a summary of some of the elements of our approach
to Sustainable Investing in our public markets investment businesses.
GOLDMAN SACHS 2023 SUSTAINA
Keyword: governance
in Investment social, and governance (ESG) targets for sectors that are material to our financing portfolio. These
factors in investment banking and sectors reflect where we see the greatest opportunity to proactively
Banking &
brokerage activities engage with our clients, deploy capital required for the transition,
Brokerage
and invest in new commercial solutions to support transition to the
Activities low-carbon economy.
Professional Description of approach to ensuring FN-IB-510b.4 The firm maintains a Code of Business Conduct and Ethics and requires
Integrity professional integrity, including duty employees to annually certify they have reviewed and will comply with
of care the code. See the Business Standards Committee Impact Report and our
Business Principles for further
Keyword: governance
social, and governance (ESG) factors integration of climate risk into our risk program.
in credit analysis
(1) Number and (2) value of loans FN-CB-410a.2 The table below presents firmwide information by loan type:
by segment: (a) personal, (b) small
business and (c) corporate Corporate $35.9B
Commercial Real Estate $26.0B
Residential Real Estate $25.4B
Securities-Based $14.6B
Other Collateralized $62.2B
Installment $3.3B
Credit Cards $19.4B
Other $1.6B
Please see page 168 of our 2023 Form 10-K for further information.
GOLDMAN SACHS 2023 SUSTAINABILITY REPORT 7805 | Metrics and Targets
Thematic Index for Our Existing
Sustainability Disclosures
Goldman Sachs has been providing voluntary sustainability-related disclosures for the better
part of two decades, beginni
Keyword: governance
Governance, Strategy, Risk Management, and Metrics and Targets.
As the sustainability reporting landscape continues to change, we plan to continue providing
transparency and comparability of decision-useful sustainability-related information to
our investors.
Core Content Areas for Investors 2023 Sustainability Report Content Areas Other Existing Disclosures
Governance • Governance (pages 59–61) • Public Responsibilities Committee
• Risk Committee
• Proxy​Statement​for​2024​Annual​Meeting​of​
Shareholders (pages 8–30)
• Goldman Sachs 2023 TCFD Report (pages 9–12)
Strategy • Our Sustainable Finance Strategy (pages 9–13) • Form 10-K (pages 7–8)
• Our Sustainable Finance Framework (page 14) • Proxy​Statement​for​2024​Annual​Meeting​of​
• Thematic Opport
Keyword: governance
sustainability initiatives across our operations, business activities, research, and governance. Going
forward the relevant risk-based due diligence guidelines will be regularly reviewed and incorporated
into our core sustainability reporting.
Goldman Sachs undertakes a robust review process to assess environmental and social
considerations, as well as related risks including credit, operational, regulatory, or reputational risks,
in our transaction due diligence processes. The firm equips business teams with environmental and
social due diligence guidelines for key sectors, as well as guidelines for certain cross-sector issues.
Advisory, financing, and direct investing teams seek to integrate environmental and social due
diligence as part of their normal course, risk-based due diligence requirement, where relevant.
While there are s
Keyword: governance
operator; governance (including the ways in which beneficiary
governments utilize oil revenues); ecological and social impacts;
potential impacts on indigenous peoples; and companies’
strategies and commitments to reducing overall greenhouse gas
(GHG) emissions.
GOLDMAN SACHS 2023 SUSTAINABILITY REPORT 8306 | Appendix
Gas Fired Power Generation certain transactions where there could be material effects on
local communities, we expect our clients to demonstrate an
As part of our enhanced due diligence for financing
appropriate stakeholder engagement process. In cases where
opportunities for new natural gas-fired power generation,
there is large-scale resettlement, we will closely evaluate the
considerations include but are not limited to: possible
stakeholder e
Keyword: governance
to: EHS track record and governance; procedures around safe
As part of our enhanced due diligence for financings that pertain
waste management practices; the secure transport, storage and
to new large-scale hydropower, we will review the project’s
handling of nuclear material; the host country’s legal, regulatory
environmental and social impact assessment to understand
and safety framework; risks around terrorism and proliferation
whether the new development occurs in a responsible and
of nuclear weapons; proximity to seismic zones; fuel supply
sustainable manner. If appropriate, we will also refer our clients
and water usage; and any possible community impacts
to best practice guidelines such as the International Hydropower
and opposition.
Association (IHA)’s Sustainability
Keyword: governance
Governance Reporting
As a baseline, all projects and assets under consideration for For our sustainability-related commitments, we are committed
financing must meet the standards set by our environmental and to measuring and providing transparency on our progress.
social risk management procedures, including the Goldman Sachs Annual updates on the allocation of the proceeds under the
Environmental Policy Framework, which provides guidance on Goldman Sachs Sustainability Issuance Framework will include
financing in certain environmentally and socially sensitive sectors. details on the expected and realized qualitative — and, where
The firm’s risk management covers broader risk factors such as possible — quantitative environmental and social impacts.
p
Keyword: governance
to consult with your advisors on whether environmental, social and governance (ESG) investing is appropriate with your holistic investment
strategy before investing. Neither Goldman Sachs nor any of its affiliates makes any representation or warranty, express or implied, as to the
accuracy or completeness of the statements or any information contained in this document and any liability therefore (including in respect
of direct, indirect, or consequential loss or damage) is expressly disclaimed.
This document, including any case studies that may be part of it, is not intended to make representations as to the environmental and
sustainability initiatives of any third parties, whether named herein or otherwise, which may involve information and events that are beyond
Goldman Sachs’ control. Case study examples are prov
Keyword: bribe
(FCPA) and anti-bribery compliance
•	
Political activity
•	
Government Contracting
Our code of conduct applies to our Home Depot family worldwide.
OUR HOME DEPOT FAMILY
76
The Home Depot     2022 ESG Report 
Overview
Strengthen  
Our Communities
Focus on  
Our People
Our  
Business
Reporting 
Framework
Table of  
Contents
International  
Retail Operations
Operate  
Sustainably
The Home Depot has a long-standing 
commitment to strong corporate 
governance, which promotes the long-
term interests of shareholders, strengthens 
Board and management accountability, 
and helps build public trust in the 
company. 
Our Board of Directors has adopted 
policies and processes that foster effective 
Board oversight of critical matters such as 
strategy, risk management, fina
Keyword: bribe
FCPA/anti-bribery and our 
whistleblower program
•	 Data protection and 
cybersecurity
•	 Internal audit and related 
investigatory matters
•	 Quality, safety and 
responsible sourcing
•	 Long-range strategic 
planning
•	 Long-range financial outlook 
and finance-related risks
•	 Capital structure, including 
investments and shareholder 
return principles
•	 Annual capital plan and key 
capital investments
•	 Merger and acquisition 
strategy
•	 Senior executive 
compensation
•	 Senior executive 
succession planning
•	 Overall risk related to the 
company’s compensation 
policies and practices
•	 Human capital 
management
•	 Non-employee director 
compensation
•	 Diversity, equity and 
inclusion, including pay 
equity
•	 Corporate governance
•	 Director succ
Keyword: corruption
Anti-corruption
205-2
Communication and training about anti-
corruption policies and procedures
Ethical Sourcing, Code of Conduct, Business Code of 
Conduct and Ethics
GRI 207: Tax
207-1
Approach to tax
Corporate Taxes
207-2
Tax governance, control and risk 
management
Corporate Taxes
207-3
Stakeholder engagement and 
management of concerns related to tax
Corporate Taxes
207-4
Country-by-country reporting
Corporate Taxes
ENVIRONMENTAL
MATERIALS
GRI 103: 
Management 
Approach
103-1
Explanation of the material topic and  
its Boundary
ESG Priority Touchpoints
103-2
The management approach and its 
components
ESG Priority Assessment Framework
103-3
Evaluation of the management approach
ESG Priority Assessment Framework, ESG 
Transparency
GRI 301: Materials
3
Keyword: tax
80       Corporate Taxes
81	 	
Data Security & Privacy
Reporting Framework
83	 	
 Global Reporting Initiative (GRI) Standards
90	 	
 Sustainability Accounting Standards Board    
 (SASB) Disclosure Matrix
93	 	
Task Force on Climate Related Financial  
 Disclosures (TCFD) Framework
95	 	
 EEO-1 Report
This report covers The Home Depot’s year of environmental, social and governance (ESG) progress in Fiscal 2021.
Note: Unless otherwise indicated, this report does not include data for HD Supply Holdings Inc., which was acquired on Dec. 24, 2020.
2
The Home Depot     2022 ESG Report 
>  Resources & Reports
>  Corporate Responsibility
RESOURCES
OVERVIEW
Forward-Looking Statements: All statements in this report that are not historical constitute “forward-looking stateme
Keyword: tax
of tax savings. Eligible associates who 
contribute to the plan get up to 3.5% 
of eligible compensation in matching 
contributions from the company. 
 
Employee Stock Purchase Plan 
(ESPP): Twice-a-year plans provide a 
15% discount on Home Depot stock. 
Associates who enroll may set aside up 
to 20% of eligible pay (up to $21,250 
annually) to purchase stock. 
 
Personal finance education: All 
associates have access to a suite of 
online webinars, activities, tools and 
resources designed to help them increase 
financial knowledge and build the 
confidence that can help relieve money-
related stress. 
 
Alight Financial Advisors®: Associates 
have access to independent advisory 
services to help them gauge whether 
they’re on track for retirem
Keyword: tax
Relations, Tax and Strategic Business Development teams, along 
with PwC, includes information about employment numbers, taxes, 
community involvement, and donations of critical COVID-19 supplies. 
The map gives a state-by-state breakdown so customers and associates 
can easily see the impact in their communities.
CHECK IT OUT
In deciding where we want to focus our 
advocacy, these are some of our top 
priorities:
•	
Driving sales by ensuring online-only 
marketplaces follow the same rules 
on accountability and transparency as 
interconnected retailers
•	
Supporting our Supply Chain initiative 
by advocating for funding for roads, 
ports and bridges and for laws that 
allow safer, heavier trucks to reduce 
loads and our environmental footprint
•	
Growin
Keyword: tax
CORPORATE TAXES
Taxes are a significant component of The 
Home Depot’s economic contribution 
to the countries, states and local 
communities in which we operate. Our 
commitment to our core values informs 
how we approach taxes. Responsible 
management of The Home Depot’s 
taxes includes: 
 
 
 
Accountability & Governance 
 
Tax governance is overseen by the Audit 
Committee of the Board of Directors. 
At least once a year, company leaders 
report to the Audit Committee regarding 
our approach to managing taxes. Learn 
more about our Corporate Governance 
structure on Page 76. 
   
 
Risk Management 
 
We identify and manage risks associated 
with taxes, including: 
 
•   Legislative uncertainty 
 
•   Reputational risk, including that a tax  
     posi
Keyword: tax
•   Scarcity of talented tax professionals  
     to recruit and hire as associates 
 
 
 
Compliance 
 
We comply with tax laws in the 
jurisdictions in which we operate, 
including reporting and paying our taxes 
in a timely manner by: 
 
•   Employing appropriate resources and      
     controls to ensure that our tax  
     reporting is accurate and complete 
 
•   Supporting audits of our tax reporting  
     and control environment by our  
     internal control team and  
     independent, third-party auditors, as  
     required for publicly traded  
     companies
•    Seeking reasonable interpretations of 
laws where there may be ambiguity
•	
Engaging proactively and 
transparently with tax authorities, 
when appropriate, to seek clarity, 
guidance or agree
Keyword: tax
ment on tax 
positions
We do the right thing for our associates, shareholders and communities by ensuring we pay our fair share of taxes 
and manage them transparently.
1)These amounts reflect actual cash taxes paid which do not include deferred taxes, but do include foreign withholding taxes.
2) State income taxes and franchise taxes based on income.
3) Income taxes paid in Canada, Mexico, China, Puerto Rico, Guam and the U.S. Virgin Islands. 
4) Taxes paid for franchise taxes not based on income in U.S. states and India; Licenses & Permits paid to U.S. states and 
    territories; and duties paid to the U.S., Canada and Mexico on imported products.
5) Includes all sales taxes and use taxes. 
6) Unemployment taxes; Federal Insurance Contributions Act
Keyword: tax
(FICA) contributions; and federal and state income taxes withheld   
   on behalf of THD associates.
THE HOME DEPOT’S  
2021 TAX PAYMENTS­­­1
Federal Income 
Tax
$4.045 billion
State Income 
Tax­2
$933 million
Foreign & 
Territorial 
Income Tax­3 
$526 million
Other Income 
& Business 
Taxes­4
$1.095 billion
Property 
Taxes
$655 million
Sales Taxes­5
$9.576 billion
Payroll Taxes­6
$4.588 billion
The Home Depot paid approximately 
1% of the total net corporate income 
taxes collected by the U.S. government 
in 2021
Our company files 10,000+ sales tax 
returns every year
We own, lease and pay property taxes 
on 3,000+ buildings worldwide, 
including stores, distribution centers 
and offices
Corporate Taxes
BY THE NUMBERS
Alignment with Our Business
Our corporate entity structure reflects 
the alig
Keyword: tax
fair share of tax commensurate with 
our business’ geographical footprint 
and operations within a jurisdiction. 
Additionally, we seek and claim tax 
incentives that: 
 
•   Align with our business 
 
•   Are consistent with the statutory or  
     regulatory framework 
 
•   Drive economic development and job  
     creation in the communities in which    
     we operate
  
Stakeholder Engagement
We actively engage with federal, state 
and local governments; tax authorities; 
trade associations; and other business 
groups to advocate for policies that align 
with our approach to tax management, 
including the ways we: 
 
•   Support tax policies that drive  
     a vibrant, competitive and growing  
     economy 
 
•   Staff our stores based upon revenue
Keyword: tax
CEO Letter, Corporate Taxes
201-2
Financial implications and other risks 
and opportunities due to climate change
2021 CDP Report
201-3
Defined benefit plan obligations and 
other retirement plans
Benefits, Form 10-K pg. 64, Form 11-K, Proxy 
Statement pgs. 62, 74
GRI 203: Indirect 
Economic Impacts
203-1
Infrastructure investments and services 
supported
Store Operations, Strengthen Our Communities
203-2
Significant indirect economic impacts
ESG Transparency, Energy-Saving Products, Water-
Saving Products, Strengthen Our Communities, 
Corporate Website – Our Economic Impact
GRI 205:  
Anti-corruption
205-2
Communication and training about anti-
corruption policies and procedures
Ethical Sourcing, Code of Conduct, Business Code of 
Conduct and Ethics
GRI 207: Tax
207
Keyword: tax
Approach to tax
Corporate Taxes
207-2
Tax governance, control and risk 
management
Corporate Taxes
207-3
Stakeholder engagement and 
management of concerns related to tax
Corporate Taxes
207-4
Country-by-country reporting
Corporate Taxes
ENVIRONMENTAL
MATERIALS
GRI 103: 
Management 
Approach
103-1
Explanation of the material topic and  
its Boundary
ESG Priority Touchpoints
103-2
The management approach and its 
components
ESG Priority Assessment Framework
103-3
Evaluation of the management approach
ESG Priority Assessment Framework, ESG 
Transparency
GRI 301: Materials
301-1
Materials used by weight or volume
ESG Transparency, Circularity, Sustainable Packaging
ENERGY
GRI 103: 
Management 
Approach
103-1
Explanation of the material topic and  
its Bounda
Keyword: governance
Corporate Governance 
78	 	
Government Relations
80       Corporate Taxes
81	 	
Data Security & Privacy
Reporting Framework
83	 	
 Global Reporting Initiative (GRI) Standards
90	 	
 Sustainability Accounting Standards Board    
 (SASB) Disclosure Matrix
93	 	
Task Force on Climate Related Financial  
 Disclosures (TCFD) Framework
95	 	
 EEO-1 Report
This report covers The Home Depot’s year of environmental, social and governance (ESG) progress in Fiscal 2021.
Note: Unless otherwise indicated, this report does not include data for HD Supply Holdings Inc., which was acquired on Dec. 24, 2020.
2
The Home Depot     2022 ESG Report 
>  Resources & Reports
>  Corporate Responsibility
RESOURCES
OVERVIEW
Forward-Looking Statements: All statements in this report that a
Keyword: governance
social and governance (ESG) impacts 
of our business and the current areas 
of focus of our many stakeholders is 
to engage with our stakeholders. This 
engagement comes through multiple 
channels. 
 
We receive constant feedback from 
our customers through the more than 
a billion and a half transactions across 
our stores and digital channels annually. 
We survey our approximately 500,000 
associates to measure how emotionally 
connected they are to their work. We 
collaborate with our vendors and suppliers 
in an effort to lessen the environmental 
impact of the products we sell. Individuals 
and organizations from around the 
globe reach out to us with questions 
or concerns about our operations or 
products. We meet with shareholders and 
nongovernmental o
Keyword: governance
Governance
People
We value seeing ESG impact and opportunities through our operational lens and also through 
the lenses of our stakeholders. 
By better understanding our impact 
and collaborating with stakeholders, we 
position our company to set objectives 
that allow us to contribute to building a 
better business, workplace and world. 
 
Our Sustainability Council, composed of 
representatives from different areas of 
the business, oversees our approach to 
sustainability. Members of the Council 
share stakeholder feedback from their 
functional areas. The Council focuses on 
several key areas, as shown below. 
 
The Council meets twice a year, and 
its chair presents our sustainability 
strategy and activities to the Board of 
Directors annually
Keyword: governance
and Corporate Governance Committee 
regarding our ESG engagement.  
Our ESG priorities and plans are 
communicated internally and externally 
via various channels, including in this 
annual report.
Engaging Stakeholders & Setting Priorities
6
The Home Depot   2022 ESG Report 
Overview
Strengthen  
Our Communities
Focus on  
Our People
Our  
Business
Operate  
Sustainably
Reporting 
Framework
Table of  
Contents
International  
Retail Operations
Customers
“Be a global-impact conscious 
company, and provide products 
that help me reduce my home’s 
environmental impact.”
Associates
“Empower us to be contributing 
team members of a values-
based organization.”
Communities
“Support me and my neighbors 
by making a positive difference in 
our community.”
Suppliers
“Give
Keyword: governance
Governance
Ethics, culture, data privacy and security,  
risk management
Third-Party Worker 
Well-Being
Safety, health, wages, hours, unforced labor
Operate Sustainably  |  Operations
Energy Use
Carbon emissions
Hazardous Materials
Waste, disposal
Waste
Recycling, landfill, incineration
Water Use
Responsible consumption
Operate Sustainably  |  Products
Eco Products
Eco Options, Eco Actions, WaterSense,  
Energy Star, Chemical Strategy, Wood  
Purchasing Policy
End of Life
Circularity, waste, recycling
Manufacturing Process
Natural resources, chemicals, carbon  
emissions, packaging
Transportation
Carbon emissions
Strengthen Our Communities
Supplier Diversity
Innovation, mentoring, business growth,  
networking
Community Support
Diverse, equitable and
Keyword: governance
social and governance (ESG) progress
Our score has improved from an 
initial C+ in 2017; our latest score
is from March 2021
B
Grades retailers’ progress in selling 
products with safer chemicals
On a scale of 0-5; we rank better 
than the industry average of 2.3
3.1
Measures ESG risk and performance 
of publicly traded companies
Second-highest rating; positions 
us as an industry leader in key 
ESG areas
AA
Measures resilience to long-term, 
financially relevant ESG risks
Leading third-party sustainability rating organizations monitor and report on our progress. Below are 
some key ratings for our company in 2021.
Ratings & Recognition
14
The Home Depot   2022 ESG Report 
Overview
Strengthen  
Our Communities
Focus on  
Our People
Our  
Business
Operate  
Sust
Keyword: governance
environmental, social and governance 
strategy cannot happen in isolation. It is 
not the sole responsibility of a corporate 
ESG team. Rather, our ESG strategy 
must reflect The Home Depot’s core 
values, and it must be embedded in all 
aspects of how we run our business. 
Everybody owns it.
Our Eco Actions program, which builds 
on our original Eco Options program 
that we launched in 2007, helps our 
customers take on more sustainable DIY 
projects and choose greener products 
that can save water, conserve energy 
or are formulated to reduce certain 
chemicals. Products can only qualify for 
this distinction if manufacturers provide 
third-party verification of environmental 
claims that meet our program’s 
requirements. This program also offers 
customers green project id
Keyword: governance
*2021 data as of the fiscal year ended January 30, 2022. For additional information on our board composition, visit the Corporate Governance section of our website.
73%
27%
82%
18%
25
The Home Depot     2022 ESG Report 
Overview
Strengthen  
Our Communities
Focus on  
Our People
Our  
Business
Reporting 
Framework
Table of  
Contents
International  
Retail Operations
Operate  
Sustainably
ASSOCIATE ENGAGEMENT
Voice of the Associate Survey 
 
Highly engaged associates care about 
their work and the performance of The 
Home Depot. Our passion is to create 
an engaging and inclusive workplace; 
we do so by proactively engaging with 
our associates, while also listening and 
responding to their feedback.    
 
In 2021, we introduced an additional 
Voice of the Associate survey to all 
our associates. Our two Voice of 
the Associate surveys – Census and 
Pulse – provided us the oppo
Keyword: governance
•	 Our Corporate Governance and Code of Conduct 
policies detail our commitment to workplace 
diversity, equity and inclusion. (Page 75)
United Nations SDGs
69
The Home Depot     2022 ESG Report 
INTERNATIONAL 
RETAIL  
OPERATIONS
>  The Home Depot Canada
>  The Home Depot Canada Foundation
>  The Home Depot Mexico
RESOURCES
Overview
Strengthen  
Our Communities
Focus on  
Our People
Our  
Business
Operate 
Sustainably
Reporting 
Framework
Table of  
Contents
International  
Retail Operations
70
The Home Depot     2022 ESG Report 
Overview
Strengthen  
Our Communities
Focus on  
Our People
Our  
Business
Reporting 
Framework
Table of  
Contents
International  
Retail Operations
Operate  
Sustainably
~34,100
646,000+
1,838,000+
4
associate resource groups
represent an