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

This month we are pleased to share our latest Engagement Report.

The companies in Impax’s listed equity portfolios have been identified as offering solutions to sustainability challenges, with financial returns generated by durable business models which we believe will benefit from the transition to a more sustainable economy. This is an inherently positive group of companies to work with; as active managers focused on a distinctive investment philosophy we are not needing to work as activists to change the fundamental business models of the companies in which we invest.

Within this context, engagement is an important tool in managing risk and building relationships with investee companies. For example, just in the past year we have seen companies respond to requests for greater disclosure on sustainability risk management and reporting, including contributions to industry-wide reporting protocols such as the Carbon Disclosure Project. We were also encouraged to hear that one of our Japanese industrial holdings has addressed corporate governance concerns and appointed its first female director – an important step in improving gender diversity within the leadership team of the firm.

We are also proud of our work in collaboration with FAIRR and As You Sow to seek to reduce the impact of the food value chain by encouraging the use of plant-based protein within food products and alternatives to plastic to wrap them. Both topics have caught the attention of consumers, creating material drivers benefitting companies in our investment universe.

Looking forward, as members of IIGCC and signatories to the TCFD we will continue to ask investee companies to consider not just the positive impact of their products and services in tackling climate change, but also how they are preparing their businesses for the inevitable risks associated with our changing climate. As signatories to the Statement of Investor Commitment to Support a Just Transition on Climate Change, we are keen to support work to maximise the social benefits and minimise the downside risks of the transition for workers and communities.

As a growing firm we are excited to be working increasingly closely with our colleagues in North America who joined as part of the acquisition of Pax World Management during 20181. For the moment, this report sets out the approach, focus areas and outcomes of our engagement for strategies managed from London; however, having now set joint engagement priorities across the Impax Asset Management Group for 2019, we expect to report on our combined efforts going forward.

Lisa Beauvilain

Head of Sustainability & ESG

1Impax acquired Pax World Management LLC on 18 January 2018

Lisa Beauvilain

Global Head of Sustainability & Stewardship, Co-Head Sustainability Centre

Lisa co-heads the Impax Sustainability Centre. As the Global Head of Sustainability & Stewardship she is responsible for sustainability and stewardship in Impax’s investments and for the sustainability insights in the firm’s Beyond Financial Returns activities, such as product development and reporting. She co-chairs Impax’s Sustainability Lens committee and is a member of Impax’s Senior Leadership Team.

Lisa joined Impax in 2010. She started working in the financial industry in 1999 and previously worked as an executive director in the Investment Management Division of Goldman Sachs in London.

She is actively participating in industry working groups and advisory councils furthering sustainable practices in industry organisations such as the Glasgow Financial Alliance for Net Zero (GFANZ) and the International Corporate Governance Network (ICGN). She is a member of the Nominations Board of Kemira Oyj, Finland and a former Trustee of the International Institute of Environment and Development (IIED).

Lisa has an MSc in Environment and Development from the London School of Economics and an MSc in Finance from the Hanken School of Economics, Finland.

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31 Jul 2023
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