The Green Impact Exchange (GIX) announced that it has filed an application with the Securities and Exchange Commission (SEC) to become the first stock market in the US dedicated to the burgeoning $50+ trillion global green economy.
GIX will list companies that make a binding commitment to set, implement, measure, and achieve sustainability goals, providing transparent progress reports to investors. Companies wishing to be recognised for their sustainability efforts can dually list on GIX without relinquishing their primary exchange listing.
“Today’s filing marks a significant advancement for sustainable investors and capital markets,” said GIX CEO and co-founder Dan Labovitz, adding “GIX will connect investors who care about sustainability with companies that are credibly committed to becoming and being sustainable.”
GIX co-founder Charles Dolan said, “Historically, capital markets have enabled companies to efficiently raise capital for development and innovation. GIX will leverage market power to benefit the environment, enhance investor protection, and drive economic growth as the world transitions to a greener economy.”
GIX’s listing standards will ensure accountability by requiring companies to establish internal governance structures that support their sustainability commitments. Investors can rely on GIX to differentiate between genuinely sustainable companies and those engaging in greenwashing.
Powered by state-of-the-art technology, the GIX trading platform will offer non-tiered, competitive liquidity and quoting programmes for members and market makers. As part of the National Market System (NMS), GIX will ensure best execution for all trades directed or routed to the exchange.
GIX will also launch a Return to Green programme, dedicating a portion of its gross revenue to support organisations leading sustainability efforts.