Goldman Sachs employees can help save the planet while lowering their utility bills, thanks to a newly added benefit offering.
The investment banking giant recently partnered with Arcadia, a monthly subscription service that connects renters and homeowners to wind and solar energy through their existing utility providers. Through the partnership, Goldman Sachs employees now have the opportunity to run their homes on 100% renewable energy.
“With COVID and our teams working from home, we realized we needed to do more to help our employees improve their own carbon footprints,” said Dina Powell McCormick, global head of sustainability and inclusive growth at Goldman Sachs.
Employees have been consuming more energy since shelter-in-place orders went into effect. Last year, U.S. households consumed 2% more energy than average, increasing their utility bills by 8%, according to data from Arcadia. The same research finds that household energy consumption is now the greatest contributor to climate change, since traveling has greatly reduced during the pandemic.
“It’s never been a more important time to prioritize a renewable energy future and take action on climate change,” said Kiran Bhatraju, CEO and Founder of Arcadia, in a release. “Companies are paying more attention to their corporate sustainability goals, and in making climate-conscious decisions, businesses can leverage Arcadia's platform to do good for their employees and the planet.”
Goldman Sachs isn’t the only company to adopt Arcadia’s service as a benefit. Biogen, a neuroscience and Fortune 500 company, is also providing green energy alternatives to their workforce through Arcadia. The company hopes to become the first Fortune 500 company to have a fossil-free workforce by 2040.
“By creating opportunities for our employees to engage and advance our goals for climate, health and equity, we aim to be a catalyst for positive change globally and reduce their impact,” said Nicole Murphy, senior vice president of global manufacturing and technical operations at Biogen, in a release.
