- link Copy Url - [ Share on twitter ](https://twitter.com/intent/tweet?text=Goldman Sachs, Xylem Launch First ESG-linked Demand Deposit Account https://www.3blmedia.com/markdownify/node/346476?absolute=1&via=3blnews "link to 3 B L Media's Twitter") - [ Share on linkedin ](https://www.linkedin.com/shareArticle?mini=true&url=https://www.3blmedia.com/markdownify/node/346476?absolute=1 "link to 3 B L Media's Linkedin") - [ Share on facebook ](https://www.facebook.com/sharer/sharer.php?u=https://www.3blmedia.com/markdownify/node/346476?absolute=1 "link to 3 B L Media's Facebook") - [ email Share via email ](mailto:?subject=Goldman Sachs, Xylem Launch First ESG-linked Demand Deposit Account&body=ESG News from Xylem Inc. https://www.3blmedia.com/markdownify/node/346476?absolute=1 "Share via email") [Sustainable Finance & Socially Responsible Investment](/CSR-News/sustainable-finance-socially-responsible-investment) # Goldman Sachs, Xylem Launch First ESG-linked Demand Deposit Account Sep 20, 2021 11:00 AM ET ![](/sites/default/files/styles/carousel_2x/public/images/GS_Signature_Black.png) ![](/sites/default/files/styles/carousel_2x/public/images/Xylem_tag_rgb.jpg) ![](/sites/default/files/styles/carousel_thumbnail_x2/public/images/GS_Signature_Black.png) ![](/sites/default/files/styles/carousel_thumbnail_x2/public/images/Xylem_tag_rgb.jpg) NEW YORK, NY, and RYE BROOK, NY, September 20, 2021 /3BL Media/ – Goldman Sachs Transaction Banking Services has launched a new ESG (Environmental, Social and Governance) linked demand deposit account, with global water technology company, Xylem (NYSE:XYL), as its anchor client, the two companies announced today. The new Goldman Sachs Transaction Banking (TxB) product links the yield clients earn on their deposits to the achievement of their own ESG targets. ESG-focused companies, like Xylem, stand to earn higher yields as they deliver on their sustainability strategies. The product is structured as a demand deposit account, so clients can access liquidity whenever they need it. Xylem, recognized as a leader in sustainability, is adding the ESG-linked deposit account to its suite of green financing tools. In 2019, Xylem executed an $800 million revolving credit facility with a sustainability-linked pricing mechanism, the first of its kind in the US General Industrial Sector. In 2020, it completed a $1 billion green bond offering, the proceeds of which were allocated to projects that improve water security and advance sustainability. “This ESG-linked account is strongly aligned with our view that sustainability should be at the heart of both our business strategy and our financing approach,” said Sandy Rowland, Xylem’s Chief Financial Officer. “Our business is innovating in technologies that deliver more sustainable outcomes for our customers and other stakeholders. Banking products that recognize and reward ESG achievement are a welcome step forward in managing financing and sustainability interdependently. This account does that while delivering the flexibility we need to manage liquidity and payments.” John Goldstein, Head of Goldman Sachs Sustainable Finance Group, added, “We’re proud to partner with Xylem to deliver a market-leading ESG solution, which supports the sustainability objectives of both of our companies. TxB’s ESG demand deposit product is an innovative complement to our existing suite of ESG finance solutions, enhancing our commitment to climate transition and inclusive growth.” The new offering aligns with nine investment themes that underpin Goldman Sachs’ sustainability framework: clean energy, sustainable transport, sustainable food and agriculture, waste and materials, ecosystem services, accessible and innovative healthcare, accessible and affordable education, financial inclusion, and communities. Goldman Sachs’ sustainable finance commitment includes a target to deploy $750 billion across climate transition and inclusive growth by 2030. Xylem’s 2025 sustainability goals include: - Enabling its customers to save more than 16.5 billion cubic meters of water through the use of advanced technologies; - Supporting its customers in preventing over 7 billion cubic meters of polluted water from flooding communities or entering local waterways; - Reducing the CO2 footprint associated with the water cycle by over 2.8 million metric tons - Providing access to clean water and sanitation solutions for at least 20 million people living at the base of the global economic pyramid; and - Using 100% renewable energy and 100% process water recycling at its major facilities. Xylem’s 2020 Sustainability Report is available [here](https://www.xylem.com/en-us/sustainability/). **About Xylem** Xylem (XYL) is a leading global water technology company committed to solving critical water and infrastructure challenges with innovation. Our more than 16,000 diverse employees delivered revenue of $4.88 billion in 2020. We are creating a more sustainable world by enabling our customers to optimize water and resource management, and helping communities in more than 150 countries become water-secure. Join us at [www.xylem.com](http://www.xylem.com/). **About Goldman Sachs** The Goldman Sachs Group, Inc. 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. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world. **About Goldman Sachs Transaction Banking** Goldman Sachs Transaction Banking, through Goldman Sachs Bank USA, is building a modern, digital-first, and cloud-based business to help clients build the future of their Treasury. The business combines the strength, heritage, and expertise of a 150-year-old firm with the agility and entrepreneurial spirit of a tech start-up. **Contacts:** Xylem Houston Spencer +1 (914) 240-3046 Goldman Sachs Andrew Williams +1 (212) 902-5400 [![](/sites/default/files/Clients/xylem_logo.png)](/profiles/xylem-inc) ### More from Xylem Inc. ###### [Manchester City and Xylem Call on Football Fans To Vote for Young Water Heroes Tackling Global Water Issues](/news/manchester-city-and-xylem-call-football-fans-vote-young-water-heroes-tackling-global-water) Nov 22, 2022 8:35 AM ET ###### [Youth Innovators Step Up To Help Communities Around the World Solve Urgent Water Challenges](/news/youth-innovators-step-help-communities-around-world-solve-urgent-water-challenges) Nov 14, 2022 10:40 AM ET ###### [Xylem Honors Texas, Michigan Water Utilities for Making Communities More Resilient](/news/xylem-honors-texas-michigan-water-utilities-making-communities-more-resilient) Nov 10, 2022 9:25 AM ET ###### [Water Utilities Set the Pace in Race To Reduce Carbon Emissions](/news/water-utilities-set-pace-race-reduce-carbon-emissions) Oct 12, 2022 10:30 AM ET ###### [Canadian Annabelle M. Rayson Wins Stockholm Junior Water Prize 2022](/news/canadian-annabelle-m-rayson-wins-stockholm-junior-water-prize-2022) Sep 1, 2022 3:15 PM ET ###### [Breaking the Cycle of Poverty with Engineers Without Borders](/news/breaking-cycle-poverty-engineers-without-borders) Feb 24, 2022 12:35 PM ET ###### [Students Compete for Cash Prizes in Global Innovation Challenge to Solve Water Issues](/news/students-compete-cash-prizes-global-innovation-challenge-solve-water-issues) Feb 16, 2022 8:00 AM ET ###### [Xylem Clocks 113,000 Volunteer Hours in 2021, Doubling Time Donated to Help Tackle Water Challenges in 55 Countries](/news/xylem-clocks-113000-volunteer-hours-2021-doubling-time-donated-help-tackle-water-challenges-55) Jan 20, 2022 10:40 AM ET