'10,000 trees': Goldman Sachs' scheme to help restore Bengaluru green cover

Initiative entails a pledge to plant one tree in and around Bengaluru for every Goldman employee in India by 2025

Goldman Sachs announced the launch of “10,000 Trees” initiative in India, a pledge to plant one tree in and around Bengaluru for every employee of the firm in India by 2025 to help restore the city’s green cover. Launched in collaboration with Bruhat Bengaluru Mahanagara Palike (BBMP), this commitment is one of several green initiatives undertaken by the firm’s Bengaluru office that advances its environmental sustainability focus.

The initiative was launched by Arvind Limbavali, Member of the Karnataka Legislative Assembly, Mahadevapura constituency, through a tree-planting ceremony at Sadaramangala Lake in Bengaluru. Several government officials including R Venkatachalapathi, Joint Commissioner, BBMP,  Hanumanthappa Patil, Range Forest Officer, BBMP, together with Ravi Krishnan, chief administrative officer of Goldman Sachs Services, participated in the event where 200 saplings were planted.

“The rapid rate of infrastructure projects in Bengaluru to support growth, has impacted our city’s well-known pleasant climate,” said Arvind Limbavali, Member of the Karnataka Legislative Assembly, Mahadevapura constituency. “Goldman Sachs’ 10,000 trees program demonstrates the critical role that companies can play in rebuilding the garden city’s green heritage.”

Gunjan Samtani, Head of Goldman Sachs Services in India said in continuation of the firm’s efforts to reduce global carbon footprint, the Bengaluru office is planting 10,000 trees to further sustainable development in the city of Bengaluru. “This is in addition to increasing renewable energy use, incorporating recycling and water efficiency systems and converting our vehicle fleet to electric vehicles (EVs) in our office,” said Samtani. “Addressing the impact of climate change on our business and our own climate impact remains an imperative for us.”

Over 2,000 native tree species of Karnataka state, such as Neem, Jamun, Dhuma and Peepal, will be planted this year around the surrounding areas of Sadaramangala Lake, Chikkabanahalli Lake and Hoodi Lake in Mahadevapura. All the trees will be maintained for the next three years, in collaboration with BBMP, to ensure the maximum survival of saplings.

In addition to today’s commitment, Goldman Sachs announced the inclusion of 150 EVs (electric vehicles) in its employee transport this year, and launched free shuttle bus services for employees residing within five kilometres from its Bengaluru office campus - Helios Business Park, Outer Ring Road. This will reduce the carbon emissions and further help de-congest the traffic situation in the area, amid the construction of the Bengaluru Metro.

The 10,000 Trees initiative in Bengaluru will also contribute to the afforestation efforts around Outer Ring Road, where a significant number of trees are impacted by the ongoing Metro construction.

Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. In India, Goldman Sachs operates from offices in Mumbai, Bengaluru and Hyderabad.