As of 12/15/23, Impax has updated its fossil fuel policy. Learn more here.

We believe there is no smarter, better investment for Congress to make than in robust and ambitious federal policies to combat the urgent threat of climate change.

Impax Asset Management supports the climate provisions in the “Build Back Better” budget package, including i) the Clean Electricity Payment Program, to jumpstart our transition to a more sustainable electric grid, ii) expanded incentives for companies and consumers to choose clean energy and transportation, and iii) measures to encourage research and development in technologies critical to achieving net zero.

For more than 20 years, Impax has organized our investments around the tremendous potential of the transition to a sustainable economy. Forward-looking companies and investors have been at the forefront of this transition, but their ambition and leadership will be undermined without the strong government policies we now need to guide the entire economy to a more resilient future.

The investment community, including Impax, is calling for urgent climate action. The Global Investor Statement to Governments on the Climate Crisis, which urges governments to raise their ambition and implement meaningful policies, is now signed by investors representing over $46 trillion in combined assets. National governments have a critical role to play in mobilizing the trillions of dollars needed to achieve the Paris climate goals. But to attract long-term private investment at the scale required, they must map out plans across all sectors of the economy.

The Build Back Better package is key for the United States to unlock the finance necessary to achieve our goals. While the Infrastructure Investments and Jobs Act also before Congress includes important clean energy, clean transportation and climate resilience measures, it, alone, is not enough.

As losses from extreme weather mount across the globe, informed investors recognize that climate inaction puts our communities and economy at greater financial risk every day. More frequent, more intense climate‑related disasters will undoubtedly prove far more costly if we don’t take action now.

Impax urges the US House and Senate to finalize the Build Back Better Act — a once-in-a-generation opportunity to spur investments into the technologies we need to tackle the climate crisis, protecting the economy and catalyzing sustainable long-term growth.


Joseph Keefe

Former President, North America

Joe Keefe held the role of President and CEO of Pax World Management starting in 2005, and continued serving as President of Impax Asset Management, North America, from the firm’s acquisition in 2018 through his retirement in 2024. Joe is a recognized leader in the sustainable investing industry in the US, acknowledged for his work promoting sustainable investing and ESG analysis, and especially for his advocacy supporting and enabling gender lens investing. Though his leadership, Joe exemplified the culture and values of Impax.

Prior to joining the firm, Joe was President of NewCircle Communications, a strategic consulting and communications firm specializing in corporate social responsibility and public policy communications. He served as Senior Advisor for Strategic Social Policy at Calvert Group from 2003-2005 and as Executive Vice President and General Counsel of Citizens Advisers from 1997-2000. He is a former member of the Board of Directors (2000-2006) of US SIF, the trade association representing asset managers and investors engaged in sustainable investing throughout the United States. Joe co-founded the Thirty Percent Coalition and is former co-chair of the leadership group for the Women’s Empowerment Principles, a joint program of the United Nations Global Compact and UN Women. Before entering the investment management industry, Joe worked in private law practice for 16 years.

Joe holds a Juris Doctor from the University of Virginia School of Law and a Bachelor of Arts in philosophy from the College of the Holy Cross.

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