Our History
In the summer of 1998, Impax Asset Management was founded with the award of a mandate from the International Finance Corporation. Today, the company is one of the largest and most established investors focused on the transition to a more sustainable economy. Explore some of our major milestones and our reflections on the opportunities that lie ahead…
Reflections on the transition
Ian Simm, Founder and CEO, and Bruce Jenkyn-Jones, Chief Investment Officer, Listed Investments, discuss evolving opportunities and challenges for investors – and for Impax – as the transition to a more sustainable economy accelerates.
Our conviction is that the global economy is shifting from a depletive model towards a more sustainable one, in which growth is delivered with improved environmental and social outcomes.
We invest in companies and assets that we believe are well positioned to benefit from the transition to a more sustainable economy.
The transition to a more sustainable economy
Impax Asset Management founded by Ian Simm
1998
2000
2001
1999
Developed first classification of Environmental Markets
We produced one of the world's first green taxonomies as part of our classification of Environmental Markets. This was adopted by FTSE Russell in 2007 as the foundation for what they now call their Green Revenues Classification, which has an independent, expert, advisory committee. Since then, we have supported FTSE Russell in a biannual review of this taxonomy.
Launch of Global Reporting Initiative
Listing on London AIM market
Achieved a listing on the London Stock Exchange (AIM) market and subsequently renamed Impax Asset Management Group Plc
2002
Impax Environmental Markets plc launch
Specialists strategy launched
We believe population dynamics, resource scarcity,
inadequate infrastructure and environmental constraints will
create high-growth investment opportunities in companies
offering products and services to solve these challenges.
Our tools: Environmental Markets
IEM plc, managed by Impax, is the UK’s largest environmental investment trust and a member of the FTSE 250 Index.
2003
2004
Launch of Impax Funds (Ireland)
Our Ireland-based UCITS fund range has continued to expand, broadening access to several Impax strategies.
We are one of the longest established private markets managers in the large and rapidly growing renewable energy sector.
While private markets have historically been the primary way that investors have accessed the infrastructure theme, we believe global sustainability challenges have also created a broad set of infrastructure investment opportunities across listed equities.
Our tools: Sustainable Infrastructure
First private equity infrastructure fund launched
2005
2007
US$1bn AUM milestone
Hong Kong office opened
2008
Leaders strategy launched
Signed the UN PRI
2009
Water strategy
launched
2012
Sustainable Food strategy launched
2013
Joined the Ceres Investor Network
2006
2010
2011
'The Economics of Climate Change: The Stern Review' published
Asia is a key region for Impax. The Hong Kong-based team of investment analysts and portfolio managers has continued to expand since the launch of the Impax Asian Environmental strategy in 2009.
Our value of ‘building a common future’ recognises that we have a responsibility to promote prosperity while protecting the planet. We have a small number of strategic community partners which align closely to our mission, with a focus on the environment and human development.
For example, Ashden is a UK charity that champions local energy solutions to reduce emissions and improve lives. Impax and Ashden have worked together to promote climate innovation.
Impax in the community
2014
First Impax impact report
2015
The strategies we manage are designed to intentionally allocate clients’ capital towards those companies we expect to benefit as the global economy transitions to a more sustainable model. Our impact reporting shows how this intention is translated into action. Our stewardship activity aims to understand our understanding of investment risk.
Beyond the pursuit of financial returns
Global Opportunities strategy launched
The Impax Sustainability Lens translates our investment beliefs into a dynamic tool to analyse the broader economy and capture the risks and opportunities associated with the transition to a more sustainable economy.
Our tools: Sustainability Lens
We were first awarded a Queen’s Award for Enterprise in Sustainable Development in 2014, in recognition of our pioneering role in supporting the expansion of companies and projects that contribute to the development of a more sustainable society. We are proud to have won the award again in 2020.
2016
UN Sustainable Development Goals come into force
US Large Cap strategy launched
2017
US$10bn AUM milestone
2018
Climate strategy launched
Acquisition of Pax World Management
1971
The Pax Fund (now the Impax Sustainable Allocation Fund) was launched – the first publicly available mutual fund in the US to use social and financial criteria in the investment process
1999
Launch of first high yield bond fund integrating ESG factors
2007
Launch of first mutual fund in the US focused on investing in companies that advance women
2008
Launch of first US fund focused on resource efficiency solutions
2011
Launch of ‘Say NO to All-Male Boards’ campaign / co-founded the Thirty Percent Coalition
2014
Launch of first gender-lens index and fund in the US
2016
Began engaging with companies on gender pay equity
Having opened our first US office in 2012, our footprint in this key strategic market expanded significantly with the acquisition of Pax World Management in 2018 - a decade on from first establishing an advisory relationship.
Impax in North America
2020
Ireland office opened
2019
World Economic Forum’s Circulars ‘Investor’ Award
We believe it is crucial for investors to participate more closely in public policy design to help accelerate the transition to a more sustainable economy. We strive to influence policy outcomes that support the growth of markets in solutions to environmental and social challenges.
Through our policy and advocacy activities we collaborate closely with a broad network, including the scientific community, industry bodies andnot-for-profit organisations.
Policy and advocacy
2021
COP26 In Glasgow
Joined the Net Zero Asset Managers Initiative
Signed the Race at Work Charter
US$50bn AUM milestone
Sustainable Infrastructure (Active) listed equities strategy launched
2022
We are focused on developing the organisation for the next stage of its growth. This means hiring outstanding people, developing and retaining talent, and supporting an effective and empowering culture.
Equity, diversity and inclusion (E,D&I) is central to Impax's philosophy, values and mission. Our E,D&I vision is to continue to build an inclusive, equitable culture where everyone feels they belong and can thrive.
Our people and culture
Financing the net-zero transition is a priority for our policy advocacy work. At the COP26 summit in Glasgow, we used a range of channels to communicate our objectives and were pleased to see our positions reflected in commitments and calls to action that emerged.
As a signatory of the Net Zero Asset Managers Initiative (NZAM), we support the goal of net-zero emissions by 2050 or sooner, in line with global efforts to limit warming to 1.5°C. We also became a member of the Glasgow Financial Alliance on Net Zero (GFANZ) in 2021.
2023
Japan office opened
Past performance does not predict future returns. Information on past performance refers to the past and past performance is not a reliable indication of future performance.
2015
2022
For professional investors only.
This is a marketing communication.
All products may not be available in all jurisdictions or to all investors.
Nothing presented herein is intended to constitute investment advice and no investment decision should be made solely based on this information. Nothing presented should be construed as a recommendation to purchase or sell a particular type of security or follow any investment technique or strategy. Information presented herein reflects Impax Asset Management’s views at a particular time. Such views are subject to change at any point and Impax Asset Management shall not be obligated to provide any notice. Any forward-looking statements or forecasts are based on assumptions and actual results are expected to vary. While Impax Asset Management has used reasonable efforts to obtain information from reliable sources, we make no representations or warranties as to the accuracy, reliability or completeness of third-party information presented herein. No guarantee of investment performance is being provided and no inference to the contrary should be made.
Impax is trademark of Impax Asset Management Group Plc. Impax is a registered trademark in the EU, US, Hong Kong, and Australia. © Impax Asset Management LLC, Impax Asset Management Limited and/or Impax Asset Management (Ireland) Limited. All rights reserved.
1- Our World in Data, 2020: Why did renewables become so cheap so fast?
2- Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services, 2019: IPBES Global Assessment Report on Biodiversity and Ecosystem Services
3- National Oceanic and Atmospheric Administration, August 2023: Global Monitoring Laboratory – Trends in Atmospheric Carbon Dioxide. Monthly average Mauna Loa CO2, measured in parts per million (ppm)
All products may not be available in all jurisdictions or to all investors.
Nothing presented herein is intended to constitute investment advice and no investment decision should be made solely based on this information. Nothing presented should be construed as a recommendation to purchase or sell a particular type of security or follow any investment technique or strategy. Information presented herein reflects Impax Asset Management’s views at a particular time. Such views are subject to change at any point and Impax Asset Management shall not be obligated to provide any notice. Any forward-looking statements or forecasts are based on assumptions and actual results are expected to vary. While Impax Asset Management has used reasonable efforts to obtain information from reliable sources, we make no representations or warranties as to the accuracy, reliability or completeness of third-party information presented herein. No guarantee of investment performance is being provided and no inference to the contrary should be made.
Impax is trademark of Impax Asset Management Group Plc. Impax is a registered trademark in the EU, US, Hong Kong, and Australia. © Impax Asset Management LLC, Impax Asset Management Limited and/or Impax Asset Management (Ireland) Limited. All rights reserved.
1- Our World in Data, 2020: Why did renewables become so cheap so fast?
2- Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services, 2019: IPBES Global Assessment Report on Biodiversity and Ecosystem Services
3- National Oceanic and Atmospheric Administration, August 2023: Global Monitoring Laboratory – Trends in Atmospheric Carbon Dioxide. Monthly average Mauna Loa CO2, measured in parts per million (ppm)
Solar generation 4x more expensive than natural gas¹
The price of electricity from solar declined 89% between 2009 and 2019. By 2019, solar generation was 30% cheaper than natural gas
UN report estimates 1 million – 1 in 8 – species at risk of extinction²
Atmospheric CO2 reaches 420ppm - 50% above pre-industrial levels³
Global Social Leaders strategy launched
Japan office opened
Global Social Leaders strategy launched
Solar generation 4x more expensive than natural gas¹
Based on consistently positive employee feedback in our annual engagement survey, we were awarded a 'Five-Star employer' rating by Workbuzz, the survey organiser.
As a signatory of the Net Zero Asset Managers Initiative (NZAM), we support the goal of net-zero emissions by 2050 or sooner, in line with global efforts to limit warming to 1.5°C. We also became a member of the Glasgow Financial Alliance on Net Zero (GFANZ) in 2021.
Financing the net-zero transition is a priority for our policy advocacy work. At the COP26 summit in Glasgow, we used a range of channels to communicate our objectives and were pleased to see our positions reflected in commitments and calls to action that emerged.
We were first awarded a Queen’s Award for Enterprise in Sustainable Development in 2014, in recognition of our pioneering role in supporting the expansion of companies and projects that contribute to the development of a more sustainable society. We are proud to have won the award again in 2020.
The price of electricity from solar declined 89% between 2009 and 2019. By 2019, solar generation was 30% cheaper than natural gas
Asia is a key region for Impax. The Hong Kong-based team of investment analysts and portfolio managers has continued to expand since the launch of the Impax Asian Environmental strategy in 2009.
Our Ireland-based UCITS fund range has continued to expand, broadening access to several Impax strategies.
IEM plc, managed by Impax, is the UK’s largest environmental investment trust and a member of the FTSE 250 Index.
Achieved a listing on the London Stock Exchange (AIM) market and subsequently renamed Impax Asset Management Group Plc
We produced one of the world's first green taxonomies as part of our classification of Environmental Markets. This was adopted by FTSE Russell in 2007 as the foundation for what they now call their Green Revenues Classification, which has an independent, expert, advisory committee. Since then, we have supported FTSE Russell in a biannual review of this taxonomy.
2018
Climate strategy launched
Acquisition of Pax World Management
1971
The Pax Fund (now the Impax Sustainable Allocation Fund) was launched – the first publicly available mutual fund in the US to use social and financial criteria in the investment process
1999
Launch of first high yield bond fund integrating ESG factors
2007
Launch of first mutual fund in the US focused on investing in companies that advance women
2008
Launch of first US fund focused on resource efficiency solutions
2011
Launch of ‘Say NO to All-Male Boards’ campaign / co-founded the Thirty Percent Coalition
2014
Launch of first gender-lens index and fund in the US
2016
Began engaging with companies on gender pay equity
Having opened our first US office in 2012, our footprint in this key strategic market expanded significantly with the acquisition of Pax World Management in 2018 - a decade on from first establishing an advisory relationship.
Impax in North America
Acquisition of Absalon Corporate Credit and European-based assets of SKY Harbor
2024
Acquisition of Absalon Corporate Credit and European-based assets of SKY Harbor
2024
2024
Acquisition of Absalon Corporate Credit and European-based assets of SKY Harbor