Impax launches environmental fundMarch 2009
An environmental investment fund has been set up in Australia by Impax Asset Management, an investor that concentrates exclusively on environmental markets.
The Impax Environmental Markets Trust, founded with BNP Paribas Investment Partners, is Australia’s first and only fund investing only in companies that have at least half their revenues, profits or capital from or invested in the sub-sectors of alternative energy and energy efficiency, water treatment and pollution control, and waste technologies and resource management.
Ian Simm, chief executive of Impax, said: ‘Environmental investment has moved firmly into the mainstream over 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.’
Despite the present slump, 2009 is considered likely to be a positive year for environmental policy and environmental investments. This is because the European Commission’s revised climate change package is setting emissions reductions, renewable energy and energy efficiency targets, US President Barack Obama is investing $150billion (£106bn) in environmental products and services during the next ten years, and the Australian government is introducing a carbon emissions trading scheme in mid-2010, with the target of a 15 per cent emissions cut by 2020.
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