It’s never too late for redemption, especially where a little greenwashing is concerned.
Wall Street pirates Goldman Sachs, whose financial crimes against humanity resulted recently in a $550 million fraud settlement, have launched a charm offensive of sorts in The New York Times and The Wall Street Journal, burnishing their green investments.
“We’re expanding our communication to a broader audience in an effort to promote a better understanding of who we are and what we do,” said David Wells, a company spokesman, according to Crain’s New York Business. “The ads show how we support our clients, including corporations, municipalities, institutions and individuals.”
In addition to general plunder and shorting the housing market, Goldman Sachs is deeply concerned with clean energy for the future. Why not? If there’s money to be made, we’re all for it! On the company’s website, they say they have invested $3 billion in clean energy projects since 2006.
From Crain’s:
In today’s full-page ads, a photo of a field of wind turbines under a cloudy sky is juxtaposed with a picture of a smiling man in a hard hat and work clothes. The ad, carrying the tag line “Progress is Everyone’s Business,” describes how the firm helped an unidentified renewable energy company find investors, enabling it to expand and create jobs.
“It’s like they’re apologizing for being bad boys,” said Jerry Della Femina, chairman and chief executive officer of Della Femina/Jeary and Partners in New York, who has worked in the ad industry since the 1960s. The ad is “too weak, too wimpy, too mealy-mouthed,” he said.
Goldman is hoping they can play both sides. While few people who read The New York Times or The Wall Street Journal (especially the finance-heavy Journal), are likely to overlook the crimes of which Goldman employees and directors stand accused, and have been indicted, the prospect of clean energy can help but provoke a bout of the warm fuzzies.
While Goldman’s money would be better spent elsewhere, Americans have a notoriously short memory, so it may not be such a waste. But speaking of responsibility…
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