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Green Impact Exchange Files Application to Launch First Sustainability-Focused Exchange in the United States

Green Impact Exchange Files Application to Launch First Sustainability-Focused Exchange in the United States

 


The Green Impact Exchange (GIX) today announced that it has filed an application with the Securities and Exchange Commission (SEC) to establish the first sustainability-focused exchange in the United States.

Founded in 2022 by former NYSE executives, including CEO Daniel Labovitz, former head of NYSE regulatory policy, and COO Charles Dolan, former NYSE executive governor, GIX aims to be the first national securities exchange in the United States dedicated to the emerging global green economy, listing companies that are committed to setting, implementing, measuring and achieving sustainability goals, and providing investors with transparency on their progress.

According to GIX, the new exchange will help simplify the investment landscape for sustainability-focused investors, while helping companies access a growing pool of capital for sustainable investing.

Labovitz said:

Today’s filing is a major step forward for sustainable investors and financial markets. GIX will connect sustainability-minded investors with companies that credibly commit to becoming and being sustainable.

According to the SEC filing, GIX will require all publicly traded companies to comply with its Green Governance Standards, imposing an internal governance structure that ensures transparency and accountability for companies' green and sustainability commitments.

The core green governance principles underlying the standards include a public commitment by the company and its board of directors to long-term sustainability; requirements to identify, engage and communicate with key stakeholders in its sustainability commitments; developing a short-, medium- and long-term plan that will lead to the sustainable operation of the company; aligning the company's business strategy with its principles and implementing policies and processes designed to achieve sustainability commitments and goals; a commitment to regular public reporting and analysis of transparent, verifiable and auditable sustainability metrics; and ensuring that sustainability commitments are reflected in all aspects of the company's business and operations.

The exchange plans to launch within 3-4 months following SEC approval.

Dolan said:

Financial markets have always enabled businesses to efficiently raise the capital they need to grow and innovate. GIX will harness the power of markets to protect the environment, improve investor protection, and drive economic growth as the world moves toward a greener economy.

Sources

1/ https://Google.com/

2/ https://www.esgtoday.com/green-impact-exchange-files-to-launch-first-ever-sustainability-focused-stock-exchange-in-u-s/

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