Australia gets new green fundFebruary 2009
An investment management company has set up Australia’s first fund specializing in the three environmental sub-sectors of alternative energy and energy efficiency, water treatment and pollution control, and waste technologies and resource management.
The fund has been created by Impax Asset Management, which deals exclusively in environmental markets, with BNP Paribas Investment Partners.
Impax, which calls its new fund the Impax Environmental Markets Trust, has based it on the company’s flagship investment trust, Impax Environmental Markets.
Ian Simm, chief executive of Impax, said: ‘Environmental investment has moved firmly into the mainstream during the past few years and is now a rapidly developing area of the global economy. For investors with a medium-term perspective, the stocks of companies active in environmental markets currently represent excellent value.’
The new fund could benefit from the Australian government’s commitment to introduce a carbon emissions trading scheme in mid-2010 and to achieve a 15 per cent emissions cut by 2020 if agreement is reached in a global climate pact.
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