Goldman Sachs Green Bond Short Duration Fund
SRI Style:
Environmental Style
SDR Labelling:
Not eligible to use label
Product:
SICAV/Offshore
Fund Region:
Europe
Fund Asset Type:
Fixed Interest
Launch Date:
01/04/2019
Last Amended:
Jun 2025
Dialshifter (
):
Fund Size:
£400.00m
(as at: 31/03/2025)
Total Responsible Ownership Assets:
£299867.77m
(as at: 30/09/2024)
Total Assets Under Management:
£2443450.98m
(as at: 31/03/2025)
ISIN:
LU1932640938, LU1922482994, LU1922483612, LU1922483968, LU1922483455
Contact Us:
Objectives:
Goldman Sachs Green Bond Short Duration is classified as a financial product under Article 9 of the EU Sustainable Finance Disclosure Regulation. The fund has sustainable investments as an objective and it will invest in economic activities that qualify as environmentally sustainable, EU Taxonomy.
The fund aims to hedge its interest rate risk by keeping the average duration between 1 and 3 years. A hedge consists of taking an offsetting position in a related security, such as a futures contract. Duration is the fund's weighted average time till maturity. A higher duration means a higher interest rate sensitivity.
The fund uses the Bloomberg MSCI Euro Green Bond 10% Capped Index for portfolio construction. However, the fund does not intend to measure its performance against that index. The benchmark is a broad representation of our investment universe. The fund can also include bonds that are not part of the benchmark universe.
Sustainable, Responsible
&/or ESG Overview:
We ensure that investments are green by conducting independent and in-house assessments based on our proprietary Goldman Sachs Green, Social & Sustainability Bond Assessment Methodology with detailed technical screening criteria for each project type that is financed via a green bond. During our in-depth research we assess both the green projects and the issuer itself, thus avoiding the risk of “greenwashing”.
Our green bond assessments are continuous and ongoing well beyond issuance, encompassing direct engagement with issuers. . We perform a systematic follow-up on the use of proceeds, all the more when there is no third-party opinion available. We pay a special attention to the way companies calculate their impact, and oftentimes challenge them on the KPIs published. Further we share best practice through regular contacts.[3]
[3] As part of our investment process, we may integrate ESG factors alongside traditional factors. The identification of a risk related to an ESG factor will not necessarily exclude a particular investment that, in our view, is otherwise suitable and attractively priced for investment, and we may invest in an issuer without integrating ESG factors or considerations into our investment process. Moreover, ESG information, whether from an external and/or internal source, is, by nature and in many instances, based on a qualitative and subjective assessment. An element of subjectivity and discretion is therefore inherent to the interpretation and use of ESG data. The relevance and weightings of specific ESG factors to or within the investment process vary across asset classes, sectors and strategies and no one factor or consideration is determinative. Goldman Sachs Asset Management in its sole discretion and without notice may periodically update or change the process for conducting its ESG assessments and implementation of its ESG views in portfolios, including the format and content of such analysis and the tools and/or data used to perform such analysis. Accordingly, the type of assessments depicted here may not be performed for every portfolio holding. The process for conducting ESG assessments and implementation of ESG views in portfolios, including the format and content of such analysis and the tools and/or data used to perform such analysis, may also vary among portfolio management teams.
Primary fund last amended:
Jun 2025
Information directly from fund manager.
Fund Filters
Environmental - General
Funds that are reviewing or encouraging companies to manage down the overuse of plastics (particularly single use, non-recyclable plastics). These funds will typically aim to encourage the use of alternative materials, but are unlikely to exclude companies purely on the basis of their use of plastics. Strategies vary. See fund information for further detail.
Nature & Biodiversity
Find funds that have policies in place explaining that they avoid companies involved in illegal and/or unsustainable deforestation. This may relate to palm oil, cattle farming or other concerns. Strategies vary. See fund information for further detail.
Ethical Values Led Exclusions
Companies are excluded if they make more than 5% of their revenue from the manufacture, sale or distribution of tobacco products including cigarettes, vaping, e-cigarettes, chewing tobacco and cigars.
Find funds that exclude companies which make controversial weapons such as landmines, cluster munitions and chemical weapons. See fund literature for further information.
Find funds which have a policy that excludes manufacturers of products designed for use in armaments and weapons. See fund literature for more information.
Gilts & Sovereigns
Find funds that invest in loans issued the government, commonly known as gilts or government bonds. These may or may not be ringfenced for specific projects (see additional options). See fund literature for any selection criteria.
Find funds that invest in financial instruments issued by governments, but will only hold those that meet certain environmental and or social criteria. This may, for example mean certain assets are excluded in line with eg Freedom House research. Strategies vary, see fund literature for more information.
Banking & Financials
Find funds that include banks as part of their holdings / portfolio.
Funds that do or may invest in insurance companies.
How The Fund Works
This fund does not use stock lending for performance or risk purposes.
Unscreened Assets & Cash
The percentage of assets held within the fund that match the fund’s sustainability objectives and are not being held purely for risk management purposes, such as derivatives and cash equivalent assets.
The percentage of assets held within the fund that match the fund’s sustainability objectives and are not being held purely for risk management purposes, such as derivatives and cash equivalent assets.
The percentage of assets held within the fund that match the fund’s sustainability objectives and are not being held purely for risk management purposes, such as derivatives and cash equivalent assets
Intended Clients & Product Options
Finds funds designed to meet the needs of individual investors with an interest in sustainability issues.
Find funds designed for clients who care about ethical and values-based issues, often alongside sustainability issues also.
Labels & Accreditations
Finds funds classified under Article 9 of the EU’s SFDR (Sustainable Finance Disclosure Requirements). Article 9 of the SFDR applies to financial products that have sustainable investment 'objectives' - including emissions reduction objectives. (These may currently be referred to as 'impact' funds or aiming to deliver clear, specific positive outcomes.) These rules do not currently apply in the UK so fund managers may leave this field blank.
Fund Management Company Information
About The Business
Finds fund management companies that have a published company wide stewardship, engagement and / or responsible ownership policy or strategy that covers all investments. Stewardship typically involves encouraging higher ESG standards through voting and dialogue.
Find fund management companies that actively encourage higher 'environmental, social and governance' and/or 'sustainable and responsible investment' practices across investee companies - typically where the aim is to encourage positive change that is aligned with the best interests of investors. Strategies vary. See additional information and options.
Find fund managers that vote all* the shares they own at Annual General Meetings and Extraordinary General Meetings. A commitment to voting shares is a key indicator of 'responsible share ownership' demonstrating their support for or disagreement with management policy. (*situations can legitimately, occasionally occur where voting proves impossible, but in principle all shares should be voted.)
Find fund management companies that consider environmental, social and governance (ESG) issues when deciding whether or not to invest in a company for all / almost all of their funds and other assets. This is increasingly seen as part of sound risk management.
Finds organisations / fund managers that have an in-house (company wide) diversity improvement programme - meaning that they are working to ensure that within their own businesses they employ people from diverse backgrounds - often typically focused on ethnicity and/or sex.
Find fund management companies that encourage the companies they invest in to have strong diversity, race, gender and other equality policies across all assets held, not simply screened or themed SRI/ESG funds. (ie Asset Management company wide).
Collaborations & Affiliations
Find fund management companies that have signed up to the UN backed 'Principles of Responsible Investment'.
Resources
Find fund management companies that employ people to steer and support fund managers in voting shares at company AGM's and EGMs in ways that are consistent with encouraging higher ESG/sustainability standards.
Find a fund management company that directly employs specialist ESG/SRI/sustainability researchers or analysts. This allows asset managers to discuss environmental, social and governance risks and opportunities directly with companies.
Find fund management companies that makes use of expert external research companies. This can help deliver specialist expertise and means resources are pooled with other investors.
Finds organisations / fund managers that have one or more ESG/sustainability experts on all investment teams or 'desks' (all asset types)
Accreditations
Find fund managers that are signatories to the FRC UK Stewardship Code, which sets out a framework for constructive investor / investee relations where fund managers are encouraged to behave like responsible, typically longer term 'company owners'.
Engagement Approach
Find fund management companies that regularly initiate or run industry wide (collaborative) investor projects aimed at raising environmental, social and governance standards amongst investee companies.
Find fund management companies that are working with the companies they invest in to encourage more responsible corporate taxation.
Fund manager has stewardship /responsible ownership strategy that is focused on addressing climate change with investee assets.
Asset manager has a stewardship /responsible ownership strategy that involves working with fossil fuel companies on climate change related issues. See fund manager website for details.
Asset manager has stewardship /responsible ownership strategy with involves encouraging investee asset to reduce plastic waste and pollution.
Asset manager has a stewardship / responsible ownership policy that means they are working to encourage more responsible mining practices - where environmental and social issues are properly dealt with by the companies they invest in.
The asset manager has a responsible ownership / stewardship strategy that focuses on biodiversity and nature issues relating to the assets they invest the aim of which will be to reduce harm and or deliver improvement. Strategies vary. https://tnfd.global
Asset manager has a responsible ownership / stewardship strategy which means they are working to encourage the shift to more sustainable business practices in ways that respect and are sensitive to social issues and the impact change has on people effected by the changes that are taking place. https://www.transitionpathwayinitiative.org/ https://transitiontaskforce.net/
Asset manager has responsible ownership / stewardship strategy in place which aims to address human rights issues in investee companies (and potentially their suppliers) with the aim of raising standards
Asset manager has responsible ownership / stewardship strategy in place that aims to improve labour standards for the benefit of employees in investee companies (and potentially their suppliers)
Asset management company has a stewardship strategy in place which involves working to raise diversity, equality and inclusion standards across investee assets
working with the assets they hold to help stamp out modern slavery - where direct or indirect company employees are exploited for business benefits.
Fund managers have stewardship strategies in place that focus on improving governance standards across investee assets
Has a stewardship / responsible ownership strategy that encourages responsible supply chain - ie the managers will discuss environmental, social and governance issues with investee companies with the aim of raising standards
Working to address sustainability, ESG and related concerns around artificial intelligence.
Escalation policies describe how a manager will proceed if stewardship / engagement activity is not successful in the short term.
Company Wide Exclusions
Fund management company excludes assets with significant involvement in the nuclear industry - across all funds. Strategies vary.
Climate & Net Zero Transition
Fund management organisations that have pledged to reduce their greenhouse gas emissions to ‘net zero’. Strategies vary - this area is changing rapidly.
Fund manager AGM / EGM voting strategy has processes in place that mean they will normally be expected to vote in a way that will encourage the transition to net zero greenhouse gas emissions.
This asset management company has set a date by which they plan to achieve net zero greenhouse gas / CO2e emissions.
Find fund management companies that are working with the companies they invest in to encourage reductions in carbon dioxide and other greenhouse gas emissions.
Finds organisations / fund managers that have a company wide carbon transition plan - meaning that they have plotted a path to how they will move away from activities that produce or use carbon based energy sources (that emit greenhouse gases) towards clean, alternative, renewable energy sources.
Finds organisations / fund managers that have published ‘forward looking climate metrics’ e.g. 'implied temperature rise' data that are a total of the asset management company's share (% owned) of all the investee company emissions of the assets they manage, as well as their own direct and other indirect emissions.
Find fund management companies that are working to reduce their own (fund management company) carbon/greenhouse gas emissions.
Finds organisations / fund management companies that are in the process of working out how to make a ‘net zero commitment’ - meaning that when that is finalised they will have started the process of reducing their total greenhouse gas emissions to'zero'.
See https://sciencebasedtargets.org/
Transparency
Find fund management companies that publish a report detailing their responsible investment ownership - also known as 'Stewardship' - activity.
Find companies that publish information about their sustainable and responsible investment strategies on their company website.
Find fund management companies that will supply information about their sustainable and responsible investment activity on request.
Fund management companies that publish a full record of how they vote their shares at AGMs (annual general meetings) and EGMs (extraordinary general meetings). Voting strategies have an important role to play encouraging higher environmental, social and governance standards.
This asset management company has published a plan that explains how they are to become a sustainable business - without significant negative environmental or social impacts.
This asset management company has published a plan that explains how they will align to the climate change commitments made at the Paris Climate Talks, COP21.
This asset management company has published a plan that explains how they are going to achieve net zero greenhouse gas / CO2e emissions.
Find fund management companies that have supplied Dialshifter information. See Dialshifter tab within record for more information.
Process:
The Green Bond team incorporates ESG factors into every step of the investment process. ESG integration in issuer analysis focusses on the possible impact (negative or positive) that ESG factors may have on the financial profile of a company. When assessing each issuer’s credit strength and outlook, the team uses the issuer’s current and expected ESG profile as one of the four building blocks, alongside management and strategy, business risk and financials. By doing so, the team aims to ensure that ESG factors are integrated in their fundamental credit analysis.
ESG-data is provided by specialized ESG service provider MSCI and included in our ESG-database. Although we use external data sources as input, we rely mostly on our internal research to gain a true picture of an issuer’s ESG profile. Given that much of the data from external providers is backward-looking, we typically make our own forward-looking assessment based on our analysts’ insights. This emphasizes the importance of not simply relying on external information and offers greater opportunity to capitalize on credits with improving ESG profiles.
For ESG integration purposes, Goldman Sachs Asset Management has also developed a proprietary ESG indicator (ESG Lens) for both corporates and sovereigns that incorporates multiple external data sources combined with the in-house expertise of our investment professionals[1].
As part of our investment process, we may integrate ESG factors alongside traditional factors. The identification of a risk related to an ESG factor will not necessarily exclude a particular investment that, in our view, is otherwise suitable and attractively priced for investment, and we may invest in an issuer without integrating ESG factors or considerations into our investment process. Moreover, ESG information, whether from an external and/or internal source, is, by nature and in many instances, based on a qualitative and subjective assessment. An element of subjectivity and discretion is therefore inherent to the interpretation and use of ESG data. The relevance and weightings of specific ESG factors to or within the investment process vary across asset classes, sectors and strategies and no one factor, or consideration is determinative. Goldman Sachs Asset Management in its sole discretion and without notice may periodically update or change the process for conducting its ESG assessments and implementation of its ESG views in portfolios, including the format and content of such analysis and the tools and/or data used to perform such analysis. Accordingly, the type of assessments depicted here may not be performed for every portfolio holding. The process for conducting ESG assessments and implementation of ESG views in portfolios, including the format and content of such analysis and the tools and/or data used to perform such analysis, may also vary among portfolio management teams.
The information contained on this page does not reflect binding characteristics of the portfolio for the purposes of the EU Sustainable Finance Disclosure Regulation (“SFDR”).
[1] Goldman Sachs Asset Management may invest in a security prior to completion of the ESG scorecard. Instances in which ESG scorecards may not be completed for a specific security prior to investment include but are not limited to IPOs, in-kind transfers, corporate actions, and/or certain short-term holdings.
Resources, Affiliations & Corporate Strategies:
Resources & Governance
Within Goldman Sachs Asset Management, many of our investment personnel conducting sustainable investment research, focusing on ESG factors in portfolio construction, and driving our stewardship and engagement efforts sit within each of our investment teams. We devote considerable resources to sustainable and impact investing and have over 200 professionals who spend the majority of their time on sustainability related research, portfolio management, stewardship, engineering, and/or risk management.
The Sustainability and Impact Client Solutions team is a dedicated resource within Asset and Wealth Management that mobilizes the full range of insights, advisory services, and investment solutions across our client segments.
In Public Markets Investing, sustainable investment professionals are supported by the centralised Sustainable Investing Platform (SIP). There is emphasis on enhancing and setting the direction for sustainability through sustainability research and regulatory expertise. SIP develops sustainable investing data, methodologies, and internal education; provides sustainable investing strategic advice and analytics to Public Markets Investing teams and clients; and enhances ESG integration (inclusive of climate) within certain investment strategies. Additionally, Public Markets Investing has appointed ESG SI Heads who are embedded within its investment teams: Equities, Fixed Income, and Multi-Asset Solutions.
In Private Markets (GS Alternatives), the GS Alternatives Sustainability & Impact (“S&I”) team is led by the Chief Sustainability Officer for Private Markets Investing and is focused on institutionalizing ESG practices across GS Alternatives, as and where relevant, enhancing data collection and monitoring, implementing, and reporting on new regulatory requirements and codes, and communicating with GS Alternatives about updates in the sustainable finance space, where applicable. This includes conducting training, designing, and implementing ESG governance frameworks, analyzing ESG data and developing strategic initiatives as applicable. The S&I team assesses upcoming and developing ESG regulatory and industry standards, leveraging guidance from internal resources as well as external conferences, counsel or advisors and implement improvements to our ESG processes, as necessary. The S&I team partners closely with investing professionals (across Sustainable Investing Group, Private Equity, Infrastructure, Growth Equity, Real Estate and Private Credit), Alternatives Capital Formation (“ACF”), Fund & Information Management Group, Legal, Compliance and Operational Risk Environmental Group, among others, to design, implement, deliver, enhance, and monitor the ESG program, as relevant, for GS Alternatives.
Goldman Sachs Asset Management’s External Investing Group (“XIG”) has meaningfully expanded its ESG and impact investing capabilities and resources in recent years. In 2015, Goldman Sachs Asset Management acquired the assets of Imprint Capital Advisors LLC, a dedicated ESG and impact investing investment advisor with over 17 years of experience creating, building, and managing ESG and impact portfolios. Today, as part of XIG’s open architecture platform, the XIG Imprint team is dedicated to identifying, researching, and selecting leading third-party impact investment managers across asset classes and impact themes, both in private and public markets. The XIG Imprint team now manages over $9bn in client assets across public and private markets and serves as a valuable resource for the broader XIG platform to further strengthen its ESG and impact capabilities across asset classes.
In addition to our efforts within Goldman Sachs Asset Management, within the Executive Office, our Sustainable Finance Group (SFG) serves as the centralized group that drives climate strategy and sustainability efforts across Goldman Sachs. This includes commercial efforts alongside the firm’s businesses — all with the goal of advancing the success of our clients and promoting sustainable, inclusive growth and advancing the climate transition.
Affiliations / Memberships
Goldman Sachs and Goldman Sachs Asset Management seek to promote best practices in ESG and stewardship through various memberships and affiliations. Below, find a select list of our affiliations/memberships:
Goldman Sachs:
- Taskforce on Climate-Related Financial Disclosures (TCFD) – Goldman Sachs has been a supporter of the TCFD since 2018 and published its first report in 2019.
- OS-Climate – In 2021, Goldman Sachs joined as the founding US bank of OS-Climate, a cross-industry coalition and open-source platform for climate data and analytical tools that will be critical for clients to achieve their net zero ambitions.
- CDP – Goldman Sachs has been a signatory to the CDP climate change survey since 2006 and has made our climate change-related disclosures publicly available since 2010. In 2021, to facilitate dialogue with our vendors around their own emissions management programs, we joined CDP Supply Chain as a lead member.
- The Climate Group (RE100, EV100, EP100) – As part of our commitment to advancing renewable energy markets, we were the first US corporate to sign onto all three of The Climate Group’s RE100, EV100 and EP100 programs. Goldman Sachs Group joined RE100 in 2015, and EV100 and EP100 in 2019. These initiatives are focused on, respectively: 100% procurement of electricity from renewables; electric transport; and energy productivity. Additionally, we set a firmwide target of sourcing 100% renewable electricity, which we achieved in 2020.
Goldman Sachs Asset Management:
- PRI – Goldman Sachs Asset Management has been a signatory to the United Nations Principles of Responsible Investment (UNPRI) since 2011.
- Climate Bonds Initiative – Goldman Sachs Asset Management became a Climate Bonds Initiative Partner in 2015.
- One Planet Sovereign Wealth Fund Framework – Goldman Sachs Asset Management became a member of the Asset Manager Working group within the One Planet Sovereign Wealth Fund Framework in 2018.
- International Capital Market Association (ICMA) – Goldman Sachs Asset Management joined ICMA’s Green, Social & Sustainability Bond Committees in 2019.
- Institutional Investors Group on Climate Change (IIGCC) – Goldman Sachs Asset Management has been a member of the IIGCC since 2019.
- Sustainability Accounting Standards Board (SASB) – Goldman Sachs Asset Management has been a member of SASB since 2018.
- Japan Stewardship Code – Goldman Sachs Asset Management has been a signatory since 2014.
- Singapore Stewardship Principles – Goldman Sachs Asset Management has been a supporter of the Singapore Stewardship Principles since 2016.
- 30% Club Japan – Goldman Sachs Asset Management became a member of the 30% Club’s Japan Investors Group in February 2020.
- UK Stewardship Code – Signatory to the 2020 UK Stewardship Code since 2022 and were previously a signatory to the 2012 code.
- Asia Corporate Governance Association (ACGA) – Goldman Sachs Asset Management joined the ACGA in 2022 and is a member of the China Working Group.
- Council of Institutional Investors – We have been a member since 2017 and hold a seat on their Corporate Governance Advisory Council
- ESG Disclosure Study Group – We became a founding member of the EDSG in June 2020. EDSG is a Japan-based organization focused on carrying out research related to ESG information disclosure best practices to enhance corporate value and growth as well as the sustainable development of society.
- International Corporate Governance Network (ICGN) – We became a member of the ICGN in January 2020. Established in 1995 as an investor-led organization, the ICGN’s mission is to promote effective standards of corporate governance and investor stewardship to advance efficient markets and sustainable economies worldwide.
- Japan Stewardship Initiative – We are part of the steering committee.
- EDCI: Goldman Sachs Asset Management signed onto the Institutional Limited Partners Association (ILPA) ESG Data Convergence Project in 2021, which convenes leading GPs and LPs in an effort to standardize ESG data collection in the private equity sector.
- GRESB: Goldman Sachs Asset Management have been participating members of GRESB since 2023.
- PRI Nature Reference Group: Goldman Sachs Asset Management became a member of the reference group in 2024.
- Impact Capital Managers (ICM) – Goldman Sachs Asset Management joined the ICM membership association as of 2024.
- Global Impact Investing Network (GIIN) – Goldman Sachs Asset Management became a member as of August 2024.
Dialshifter
This fund is helping to ‘shift the dial from brown to green’ by…
As asset manager, we are the bridge between issuers of labeled bonds and fixed income investors seeking to advance the sustainable transition. Our Green, Social and Impact Bonds team has developed a proprietary investment process that allows us to identify issuers that have credible transition strategies and are making measurable environmental and/or social impact. We are committed to communication with issuers and syndicates to promote the development of the labeled bond market.
SDR Labelling:
Not eligible to use label
Key Performance Indicators:
The Green Bond team incorporates ESG factors into every step of the investment process. ESG integration in issuer analysis focusses on the possible impact (negative or positive) that ESG factors may have on the financial profile of a company. When assessing each issuer’s credit strength and outlook, the team uses the issuer’s current and expected ESG profile as one of the four building blocks, alongside management and strategy, business risk and financials. By doing so, the team aims to ensure that ESG factors are integrated in their fundamental credit analysis.
ESG-data is provided by specialized ESG service provider MSCI and included in our ESG-database. Although we use external data sources as input, we rely mostly on our internal research to gain a true picture of an issuer’s ESG profile. Given that much of the data from external providers is backward-looking, we typically make our own forward-looking assessment based on our analysts’ insights. This emphasizes the importance of not simply relying on external information and offers greater opportunity to capitalize on credits with improving ESG profiles.
For ESG integration purposes, Goldman Sachs Asset Management has also developed a proprietary ESG indicator (ESG Lens) for both corporates and sovereigns that incorporates multiple external data sources combined with the in-house expertise of our investment professionals[1].
As part of our investment process, we may integrate ESG factors alongside traditional factors. The identification of a risk related to an ESG factor will not necessarily exclude a particular investment that, in our view, is otherwise suitable and attractively priced for investment, and we may invest in an issuer without integrating ESG factors or considerations into our investment process. Moreover, ESG information, whether from an external and/or internal source, is, by nature and in many instances, based on a qualitative and subjective assessment. An element of subjectivity and discretion is therefore inherent to the interpretation and use of ESG data. The relevance and weightings of specific ESG factors to or within the investment process vary across asset classes, sectors and strategies and no one factor, or consideration is determinative. Goldman Sachs Asset Management in its sole discretion and without notice may periodically update or change the process for conducting its ESG assessments and implementation of its ESG views in portfolios, including the format and content of such analysis and the tools and/or data used to perform such analysis. Accordingly, the type of assessments depicted here may not be performed for every portfolio holding. The process for conducting ESG assessments and implementation of ESG views in portfolios, including the format and content of such analysis and the tools and/or data used to perform such analysis, may also vary among portfolio management teams.
The information contained on this page does not reflect binding characteristics of the portfolio for the purposes of the EU Sustainable Finance Disclosure Regulation (“SFDR”).
[1] Goldman Sachs Asset Management may invest in a security prior to completion of the ESG scorecard. Instances in which ESG scorecards may not be completed for a specific security prior to investment include but are not limited to IPOs, in-kind transfers, corporate actions, and/or certain short-term holdings.
Disclaimer
Environmental, Social and Governance (“ESG”) strategies may take risks or eliminate exposures found in other strategies or broad market benchmarks that may cause performance to diverge from the performance of these other strategies or market benchmarks. ESG strategies will be subject to the risks associated with their underlying investments’ asset classes. Further, the demand within certain markets or sectors that an ESG strategy targets may not develop as forecasted or may develop more slowly than anticipated.
Confidentiality
No part of this material may, without Goldman Sachs Asset Management’s prior written consent, be (i) copied, photocopied or duplicated in any form, by any means, or (ii) distributed to any person that is not an employee, officer, director, or authorized agent of the recipient.
© 2025 Goldman Sachs. All Rights Reserved.
Date of First Use: 5/26/2025
Compliance Code: 432194-OTU-2276066
| Fund Name | SRI Style | SDR Labelling | Product | Region | Asset Type | Launch Date | Last Amended |
|
|---|---|---|---|---|---|---|---|---|
Goldman Sachs Green Bond Short Duration Fund |
Environmental Style | Not eligible to use label | SICAV/Offshore | Europe | Fixed Interest | 01/04/2019 | Jun 2025 | |
ObjectivesGoldman Sachs Green Bond Short Duration is classified as a financial product under Article 9 of the EU Sustainable Finance Disclosure Regulation. The fund has sustainable investments as an objective and it will invest in economic activities that qualify as environmentally sustainable, EU Taxonomy. The fund aims to hedge its interest rate risk by keeping the average duration between 1 and 3 years. A hedge consists of taking an offsetting position in a related security, such as a futures contract. Duration is the fund's weighted average time till maturity. A higher duration means a higher interest rate sensitivity. The fund uses the Bloomberg MSCI Euro Green Bond 10% Capped Index for portfolio construction. However, the fund does not intend to measure its performance against that index. The benchmark is a broad representation of our investment universe. The fund can also include bonds that are not part of the benchmark universe. |
Fund Size: £400.00m (as at: 31/03/2025) Total Responsible Ownership Assets: £299867.77m (as at: 30/09/2024) Total Assets Under Management: £2443450.98m (as at: 31/03/2025) ISIN: LU1932640938, LU1922482994, LU1922483612, LU1922483968, LU1922483455 Contact Us: gs-uk-tpd-ss@gs.com |
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Primary fund last amended: Jun 2025 |
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Information received directly from Fund Manager |
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Fund FiltersEnvironmental - General
Plastics policy
Funds that are reviewing or encouraging companies to manage down the overuse of plastics (particularly single use, non-recyclable plastics). These funds will typically aim to encourage the use of alternative materials, but are unlikely to exclude companies purely on the basis of their use of plastics. Strategies vary. See fund information for further detail. Nature & Biodiversity
Illegal deforestation exclusion policy
Find funds that have policies in place explaining that they avoid companies involved in illegal and/or unsustainable deforestation. This may relate to palm oil, cattle farming or other concerns. Strategies vary. See fund information for further detail. Ethical Values Led Exclusions
Tobacco and related products - avoid where revenue > 5%
Companies are excluded if they make more than 5% of their revenue from the manufacture, sale or distribution of tobacco products including cigarettes, vaping, e-cigarettes, chewing tobacco and cigars.
Controversial weapons exclusion
Find funds that exclude companies which make controversial weapons such as landmines, cluster munitions and chemical weapons. See fund literature for further information.
Armaments manufacturers not excluded
Find funds which have a policy that excludes manufacturers of products designed for use in armaments and weapons. See fund literature for more information. Gilts & Sovereigns
Invests in gilts / government bonds
Find funds that invest in loans issued the government, commonly known as gilts or government bonds. These may or may not be ringfenced for specific projects (see additional options). See fund literature for any selection criteria.
Invests in sovereigns subject to screening criteria
Find funds that invest in financial instruments issued by governments, but will only hold those that meet certain environmental and or social criteria. This may, for example mean certain assets are excluded in line with eg Freedom House research. Strategies vary, see fund literature for more information. Banking & Financials
Invests in banks
Find funds that include banks as part of their holdings / portfolio.
Invests in insurers
Funds that do or may invest in insurance companies. How The Fund Works
Do not use stock / securities lending
This fund does not use stock lending for performance or risk purposes. Unscreened Assets & Cash
Assets typically aligned to sustainability objectives 70 - 79%
The percentage of assets held within the fund that match the fund’s sustainability objectives and are not being held purely for risk management purposes, such as derivatives and cash equivalent assets.
Assets typically aligned to sustainability objectives 80 – 89%
The percentage of assets held within the fund that match the fund’s sustainability objectives and are not being held purely for risk management purposes, such as derivatives and cash equivalent assets.
Assets typically aligned to sustainability objectives > 90%
The percentage of assets held within the fund that match the fund’s sustainability objectives and are not being held purely for risk management purposes, such as derivatives and cash equivalent assets Intended Clients & Product Options
Intended for investors interested in sustainability
Finds funds designed to meet the needs of individual investors with an interest in sustainability issues.
Intended for clients interested in ethical issues
Find funds designed for clients who care about ethical and values-based issues, often alongside sustainability issues also. Labels & Accreditations
SFDR Article 9 fund / product (EU)
Finds funds classified under Article 9 of the EU’s SFDR (Sustainable Finance Disclosure Requirements). Article 9 of the SFDR applies to financial products that have sustainable investment 'objectives' - including emissions reduction objectives. (These may currently be referred to as 'impact' funds or aiming to deliver clear, specific positive outcomes.) These rules do not currently apply in the UK so fund managers may leave this field blank. Fund Management Company InformationAbout The Business
Responsible ownership / stewardship policy or strategy (AFM company wide)
Finds fund management companies that have a published company wide stewardship, engagement and / or responsible ownership policy or strategy that covers all investments. Stewardship typically involves encouraging higher ESG standards through voting and dialogue.
ESG / SRI engagement (AFM company wide)
Find fund management companies that actively encourage higher 'environmental, social and governance' and/or 'sustainable and responsible investment' practices across investee companies - typically where the aim is to encourage positive change that is aligned with the best interests of investors. Strategies vary. See additional information and options.
Vote all* shares at AGMs / EGMs (AFM company wide)
Find fund managers that vote all* the shares they own at Annual General Meetings and Extraordinary General Meetings. A commitment to voting shares is a key indicator of 'responsible share ownership' demonstrating their support for or disagreement with management policy. (*situations can legitimately, occasionally occur where voting proves impossible, but in principle all shares should be voted.)
Integrates ESG factors into all / most (AFM) fund research
Find fund management companies that consider environmental, social and governance (ESG) issues when deciding whether or not to invest in a company for all / almost all of their funds and other assets. This is increasingly seen as part of sound risk management.
In-house diversity improvement programme (AFM company wide)
Finds organisations / fund managers that have an in-house (company wide) diversity improvement programme - meaning that they are working to ensure that within their own businesses they employ people from diverse backgrounds - often typically focused on ethnicity and/or sex.
Diversity, equality & inclusion engagement policy (AFM company wide)
Find fund management companies that encourage the companies they invest in to have strong diversity, race, gender and other equality policies across all assets held, not simply screened or themed SRI/ESG funds. (ie Asset Management company wide). Collaborations & Affiliations
PRI signatory
Find fund management companies that have signed up to the UN backed 'Principles of Responsible Investment'. Resources
In-house responsible ownership / voting expertise
Find fund management companies that employ people to steer and support fund managers in voting shares at company AGM's and EGMs in ways that are consistent with encouraging higher ESG/sustainability standards.
Employ specialist ESG / SRI / sustainability researchers
Find a fund management company that directly employs specialist ESG/SRI/sustainability researchers or analysts. This allows asset managers to discuss environmental, social and governance risks and opportunities directly with companies.
Use specialist ESG / SRI / sustainability research companies
Find fund management companies that makes use of expert external research companies. This can help deliver specialist expertise and means resources are pooled with other investors.
ESG specialists on all investment desks (AFM company wide)
Finds organisations / fund managers that have one or more ESG/sustainability experts on all investment teams or 'desks' (all asset types) Accreditations
UK Stewardship Code signatory (AFM company wide)
Find fund managers that are signatories to the FRC UK Stewardship Code, which sets out a framework for constructive investor / investee relations where fund managers are encouraged to behave like responsible, typically longer term 'company owners'. Engagement Approach
Regularly lead collaborative ESG initiatives (AFM company wide)
Find fund management companies that regularly initiate or run industry wide (collaborative) investor projects aimed at raising environmental, social and governance standards amongst investee companies.
Encourage responsible corporate taxation (AFM company wide)
Find fund management companies that are working with the companies they invest in to encourage more responsible corporate taxation.
Engaging on climate change issues
Fund manager has stewardship /responsible ownership strategy that is focused on addressing climate change with investee assets.
Engaging with fossil fuel companies on climate change
Asset manager has a stewardship /responsible ownership strategy that involves working with fossil fuel companies on climate change related issues. See fund manager website for details.
Engaging to reduce plastics pollution / waste
Asset manager has stewardship /responsible ownership strategy with involves encouraging investee asset to reduce plastic waste and pollution.
Engaging to encourage responsible mining practices
Asset manager has a stewardship / responsible ownership policy that means they are working to encourage more responsible mining practices - where environmental and social issues are properly dealt with by the companies they invest in.
Engaging on biodiversity / nature issues
The asset manager has a responsible ownership / stewardship strategy that focuses on biodiversity and nature issues relating to the assets they invest the aim of which will be to reduce harm and or deliver improvement. Strategies vary. https://tnfd.global
Engaging to encourage a Just Transition
Asset manager has a responsible ownership / stewardship strategy which means they are working to encourage the shift to more sustainable business practices in ways that respect and are sensitive to social issues and the impact change has on people effected by the changes that are taking place. https://www.transitionpathwayinitiative.org/ https://transitiontaskforce.net/
Engaging on human rights issues
Asset manager has responsible ownership / stewardship strategy in place which aims to address human rights issues in investee companies (and potentially their suppliers) with the aim of raising standards
Engaging on labour / employment issues
Asset manager has responsible ownership / stewardship strategy in place that aims to improve labour standards for the benefit of employees in investee companies (and potentially their suppliers)
Engaging on diversity, equality and / or inclusion issues
Asset management company has a stewardship strategy in place which involves working to raise diversity, equality and inclusion standards across investee assets
Engaging to stop modern slavery
working with the assets they hold to help stamp out modern slavery - where direct or indirect company employees are exploited for business benefits.
Engaging on governance issues
Fund managers have stewardship strategies in place that focus on improving governance standards across investee assets
Engaging on responsible supply chain issues
Has a stewardship / responsible ownership strategy that encourages responsible supply chain - ie the managers will discuss environmental, social and governance issues with investee companies with the aim of raising standards
Engaging on the responsible use of AI
Working to address sustainability, ESG and related concerns around artificial intelligence.
Stewardship escalation policy
Escalation policies describe how a manager will proceed if stewardship / engagement activity is not successful in the short term. Company Wide Exclusions
Nuclear exclusion policy (AFM company wide)
Fund management company excludes assets with significant involvement in the nuclear industry - across all funds. Strategies vary. Climate & Net Zero Transition
Net Zero commitment (AFM company wide)
Fund management organisations that have pledged to reduce their greenhouse gas emissions to ‘net zero’. Strategies vary - this area is changing rapidly.
Voting policy includes net zero targets (AFM company wide)
Fund manager AGM / EGM voting strategy has processes in place that mean they will normally be expected to vote in a way that will encourage the transition to net zero greenhouse gas emissions.
Net Zero - have set a Net Zero target date (AFM company wide)
This asset management company has set a date by which they plan to achieve net zero greenhouse gas / CO2e emissions.
Encourage carbon / greenhouse gas reduction (AFM company wide)
Find fund management companies that are working with the companies they invest in to encourage reductions in carbon dioxide and other greenhouse gas emissions.
Carbon transition plan published (AFM company wide)
Finds organisations / fund managers that have a company wide carbon transition plan - meaning that they have plotted a path to how they will move away from activities that produce or use carbon based energy sources (that emit greenhouse gases) towards clean, alternative, renewable energy sources.
‘Forward Looking Climate Metrics’ published / ITR (AFM company wide)
Finds organisations / fund managers that have published ‘forward looking climate metrics’ e.g. 'implied temperature rise' data that are a total of the asset management company's share (% owned) of all the investee company emissions of the assets they manage, as well as their own direct and other indirect emissions.
In-house carbon / GHG reduction policy (AFM company wide)
Find fund management companies that are working to reduce their own (fund management company) carbon/greenhouse gas emissions.
Working towards a ‘Net Zero’ commitment (AFM company wide)
Finds organisations / fund management companies that are in the process of working out how to make a ‘net zero commitment’ - meaning that when that is finalised they will have started the process of reducing their total greenhouse gas emissions to'zero'.
Committed to SBTi / Science Based Targets Initiative
See https://sciencebasedtargets.org/ Transparency
Publish responsible ownership / stewardship report (AFM company wide)
Find fund management companies that publish a report detailing their responsible investment ownership - also known as 'Stewardship' - activity.
Full SRI / responsible ownership policy information on company website
Find companies that publish information about their sustainable and responsible investment strategies on their company website.
Full SRI / responsible ownership policy information available on request
Find fund management companies that will supply information about their sustainable and responsible investment activity on request.
Publish full voting record (AFM company wide)
Fund management companies that publish a full record of how they vote their shares at AGMs (annual general meetings) and EGMs (extraordinary general meetings). Voting strategies have an important role to play encouraging higher environmental, social and governance standards.
Sustainability transition plan publicly available (AFM company wide)
This asset management company has published a plan that explains how they are to become a sustainable business - without significant negative environmental or social impacts.
Paris Alignment plan publicly available (AFM company wide)
This asset management company has published a plan that explains how they will align to the climate change commitments made at the Paris Climate Talks, COP21.
Net Zero transition plan publicly available (AFM company wide)
This asset management company has published a plan that explains how they are going to achieve net zero greenhouse gas / CO2e emissions.
Dialshifter statement
Find fund management companies that have supplied Dialshifter information. See Dialshifter tab within record for more information. Process:The Green Bond team incorporates ESG factors into every step of the investment process. ESG integration in issuer analysis focusses on the possible impact (negative or positive) that ESG factors may have on the financial profile of a company. When assessing each issuer’s credit strength and outlook, the team uses the issuer’s current and expected ESG profile as one of the four building blocks, alongside management and strategy, business risk and financials. By doing so, the team aims to ensure that ESG factors are integrated in their fundamental credit analysis. ESG-data is provided by specialized ESG service provider MSCI and included in our ESG-database. Although we use external data sources as input, we rely mostly on our internal research to gain a true picture of an issuer’s ESG profile. Given that much of the data from external providers is backward-looking, we typically make our own forward-looking assessment based on our analysts’ insights. This emphasizes the importance of not simply relying on external information and offers greater opportunity to capitalize on credits with improving ESG profiles. For ESG integration purposes, Goldman Sachs Asset Management has also developed a proprietary ESG indicator (ESG Lens) for both corporates and sovereigns that incorporates multiple external data sources combined with the in-house expertise of our investment professionals[1]. As part of our investment process, we may integrate ESG factors alongside traditional factors. The identification of a risk related to an ESG factor will not necessarily exclude a particular investment that, in our view, is otherwise suitable and attractively priced for investment, and we may invest in an issuer without integrating ESG factors or considerations into our investment process. Moreover, ESG information, whether from an external and/or internal source, is, by nature and in many instances, based on a qualitative and subjective assessment. An element of subjectivity and discretion is therefore inherent to the interpretation and use of ESG data. The relevance and weightings of specific ESG factors to or within the investment process vary across asset classes, sectors and strategies and no one factor, or consideration is determinative. Goldman Sachs Asset Management in its sole discretion and without notice may periodically update or change the process for conducting its ESG assessments and implementation of its ESG views in portfolios, including the format and content of such analysis and the tools and/or data used to perform such analysis. Accordingly, the type of assessments depicted here may not be performed for every portfolio holding. The process for conducting ESG assessments and implementation of ESG views in portfolios, including the format and content of such analysis and the tools and/or data used to perform such analysis, may also vary among portfolio management teams. The information contained on this page does not reflect binding characteristics of the portfolio for the purposes of the EU Sustainable Finance Disclosure Regulation (“SFDR”).
[1] Goldman Sachs Asset Management may invest in a security prior to completion of the ESG scorecard. Instances in which ESG scorecards may not be completed for a specific security prior to investment include but are not limited to IPOs, in-kind transfers, corporate actions, and/or certain short-term holdings. Resources, Affiliations & Corporate Strategies:Resources & Governance Within Goldman Sachs Asset Management, many of our investment personnel conducting sustainable investment research, focusing on ESG factors in portfolio construction, and driving our stewardship and engagement efforts sit within each of our investment teams. We devote considerable resources to sustainable and impact investing and have over 200 professionals who spend the majority of their time on sustainability related research, portfolio management, stewardship, engineering, and/or risk management. The Sustainability and Impact Client Solutions team is a dedicated resource within Asset and Wealth Management that mobilizes the full range of insights, advisory services, and investment solutions across our client segments. In Public Markets Investing, sustainable investment professionals are supported by the centralised Sustainable Investing Platform (SIP). There is emphasis on enhancing and setting the direction for sustainability through sustainability research and regulatory expertise. SIP develops sustainable investing data, methodologies, and internal education; provides sustainable investing strategic advice and analytics to Public Markets Investing teams and clients; and enhances ESG integration (inclusive of climate) within certain investment strategies. Additionally, Public Markets Investing has appointed ESG SI Heads who are embedded within its investment teams: Equities, Fixed Income, and Multi-Asset Solutions. In Private Markets (GS Alternatives), the GS Alternatives Sustainability & Impact (“S&I”) team is led by the Chief Sustainability Officer for Private Markets Investing and is focused on institutionalizing ESG practices across GS Alternatives, as and where relevant, enhancing data collection and monitoring, implementing, and reporting on new regulatory requirements and codes, and communicating with GS Alternatives about updates in the sustainable finance space, where applicable. This includes conducting training, designing, and implementing ESG governance frameworks, analyzing ESG data and developing strategic initiatives as applicable. The S&I team assesses upcoming and developing ESG regulatory and industry standards, leveraging guidance from internal resources as well as external conferences, counsel or advisors and implement improvements to our ESG processes, as necessary. The S&I team partners closely with investing professionals (across Sustainable Investing Group, Private Equity, Infrastructure, Growth Equity, Real Estate and Private Credit), Alternatives Capital Formation (“ACF”), Fund & Information Management Group, Legal, Compliance and Operational Risk Environmental Group, among others, to design, implement, deliver, enhance, and monitor the ESG program, as relevant, for GS Alternatives. Goldman Sachs Asset Management’s External Investing Group (“XIG”) has meaningfully expanded its ESG and impact investing capabilities and resources in recent years. In 2015, Goldman Sachs Asset Management acquired the assets of Imprint Capital Advisors LLC, a dedicated ESG and impact investing investment advisor with over 17 years of experience creating, building, and managing ESG and impact portfolios. Today, as part of XIG’s open architecture platform, the XIG Imprint team is dedicated to identifying, researching, and selecting leading third-party impact investment managers across asset classes and impact themes, both in private and public markets. The XIG Imprint team now manages over $9bn in client assets across public and private markets and serves as a valuable resource for the broader XIG platform to further strengthen its ESG and impact capabilities across asset classes. In addition to our efforts within Goldman Sachs Asset Management, within the Executive Office, our Sustainable Finance Group (SFG) serves as the centralized group that drives climate strategy and sustainability efforts across Goldman Sachs. This includes commercial efforts alongside the firm’s businesses — all with the goal of advancing the success of our clients and promoting sustainable, inclusive growth and advancing the climate transition.
Goldman Sachs and Goldman Sachs Asset Management seek to promote best practices in ESG and stewardship through various memberships and affiliations. Below, find a select list of our affiliations/memberships: Goldman Sachs:
Goldman Sachs Asset Management:
Dialshifter (Fund)This fund is helping to ‘shift the dial from brown to green’ by… As asset manager, we are the bridge between issuers of labeled bonds and fixed income investors seeking to advance the sustainable transition. Our Green, Social and Impact Bonds team has developed a proprietary investment process that allows us to identify issuers that have credible transition strategies and are making measurable environmental and/or social impact. We are committed to communication with issuers and syndicates to promote the development of the labeled bond market. Dialshifter (Corporate)‘Our organisation is helping to support the Paris Climate Agreement and the Race to Net Zero by…’ Designing our approach to sustainability that helps facilitate our clients’ strategic priorities. Providing our clients with our growing suite of sustainable finance capabilities including insights, tools, and innovative solutions is the single most important contribution we can make to the transition to a lower carbon, sustainable growth economy. In 2019, Goldman Sachs announced the 10-year, $750 billion sustainable finance target to support the increasing demand for sustainable finance solutions across our financing, investing, and advisory work with clients. For additional information, please refer to Goldman Sachs Group Sustainability Report and Goldman Sachs Asset & Wealth Management 2023 TCFD report SDR Labelling:Not eligible to use label Key Performance Indicators:
The Green Bond team incorporates ESG factors into every step of the investment process. ESG integration in issuer analysis focusses on the possible impact (negative or positive) that ESG factors may have on the financial profile of a company. When assessing each issuer’s credit strength and outlook, the team uses the issuer’s current and expected ESG profile as one of the four building blocks, alongside management and strategy, business risk and financials. By doing so, the team aims to ensure that ESG factors are integrated in their fundamental credit analysis. ESG-data is provided by specialized ESG service provider MSCI and included in our ESG-database. Although we use external data sources as input, we rely mostly on our internal research to gain a true picture of an issuer’s ESG profile. Given that much of the data from external providers is backward-looking, we typically make our own forward-looking assessment based on our analysts’ insights. This emphasizes the importance of not simply relying on external information and offers greater opportunity to capitalize on credits with improving ESG profiles.
For ESG integration purposes, Goldman Sachs Asset Management has also developed a proprietary ESG indicator (ESG Lens) for both corporates and sovereigns that incorporates multiple external data sources combined with the in-house expertise of our investment professionals[1].
As part of our investment process, we may integrate ESG factors alongside traditional factors. The identification of a risk related to an ESG factor will not necessarily exclude a particular investment that, in our view, is otherwise suitable and attractively priced for investment, and we may invest in an issuer without integrating ESG factors or considerations into our investment process. Moreover, ESG information, whether from an external and/or internal source, is, by nature and in many instances, based on a qualitative and subjective assessment. An element of subjectivity and discretion is therefore inherent to the interpretation and use of ESG data. The relevance and weightings of specific ESG factors to or within the investment process vary across asset classes, sectors and strategies and no one factor, or consideration is determinative. Goldman Sachs Asset Management in its sole discretion and without notice may periodically update or change the process for conducting its ESG assessments and implementation of its ESG views in portfolios, including the format and content of such analysis and the tools and/or data used to perform such analysis. Accordingly, the type of assessments depicted here may not be performed for every portfolio holding. The process for conducting ESG assessments and implementation of ESG views in portfolios, including the format and content of such analysis and the tools and/or data used to perform such analysis, may also vary among portfolio management teams. The information contained on this page does not reflect binding characteristics of the portfolio for the purposes of the EU Sustainable Finance Disclosure Regulation (“SFDR”).
[1] Goldman Sachs Asset Management may invest in a security prior to completion of the ESG scorecard. Instances in which ESG scorecards may not be completed for a specific security prior to investment include but are not limited to IPOs, in-kind transfers, corporate actions, and/or certain short-term holdings. DisclaimerEnvironmental, Social and Governance (“ESG”) strategies may take risks or eliminate exposures found in other strategies or broad market benchmarks that may cause performance to diverge from the performance of these other strategies or market benchmarks. ESG strategies will be subject to the risks associated with their underlying investments’ asset classes. Further, the demand within certain markets or sectors that an ESG strategy targets may not develop as forecasted or may develop more slowly than anticipated. Confidentiality No part of this material may, without Goldman Sachs Asset Management’s prior written consent, be (i) copied, photocopied or duplicated in any form, by any means, or (ii) distributed to any person that is not an employee, officer, director, or authorized agent of the recipient. |
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