20th Nov 2024 11:42
(Alliance News) - Impax Environmental Markets PLC on Wednesday announced that it will be adopting the "sustainability impact" label under the FCA's new sustainability disclosure requirements.
The London-based investor said the label "identifies investment products that aim to have a pre-defined positive measurable impact in relation to an environmental and/or a social outcome".
IEM will adopt the label from November 27 after it agreed with its investment manager Impax Asset Management that the investment strategy meets the qualifying criteria.
The company said they intend "to capture and measure, and achieve, positive environmental impact provided by its portfolio companies" and not limit opportunities to companies delivering on specific environmental targets.
Impax Environmental Markets added there will be no change to the investment process.
Chairman Glen Suarez said: "We are delighted to adopt the 'sustainability impact' label. In an evolving area of regulation, we have worked hard with our investment manager to review the process and requirements. We believe investors seeking exposure to the long-term structural themes of environmental solutions with a rigorous investment process will find the label attractive and observe the confidence that the Board has in those themes."
Shares in Impax Environmental Markets were down 0.1% to 381.66 pence in London on Wednesday morning.
By Michael Hennessey, Alliance News reporter
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