Impax Asset Management : awarded AUD$240m climate mitigation and adaptation mandate from Cbus

Impax awarded AUD$240m climate mitigation and adaptation mandate from Cbus

London, 17 March 2021 - Impax Asset Management ("Impax"), the specialist asset manager investing in the transition to a more sustainable global economy, announced today that it has been awarded an AUD$240m mandate by Cbus, one of Australia's largest superannuation funds, which supports the building, construction and allied industries.

The mandate is focused on climate mitigation and adaptation and is managed using the Impax Climate Strategy, a global equities strategy investing in companies providing solutions to the challenges around climate change. The Impax Climate Strategy seeks to invest globally in listed companies with demonstrable exposure to products and services enabling mitigation of climate change or adaptation to its consequences.

The strategy invests in a diverse range of sub-sectors, focusing on companies which provide climate mitigation solutions, primary adaptation solutions, and secondary adaptation solutions. For mitigations solutions, these sub-sectors include New Energy, Greenhouse Gas Control, Sustainable and Efficient Agriculture and Waste & Resource Efficiency. For primary adaptation solutions (for the direct consequences of climate change), Energy Systems Resilience, Water Supply Resilience, Agriculture & Aquaculture & Forestry Resilience, and Other Infrastructure Resilience. For secondary adaptation solutions (for other challenges arising out of climate change) in Information & Communications, Financial Services, Healthcare and other adaptation services.

All portfolio companies are positioned to contribute to the transition to a Paris Aligned economy. The strategy is co-managed by Bruce Jenkyn-Jones and Jon Forster.

Jon Forster, Senior Portfolio Manager, Impax Asset Management, said: "Asset owners are increasingly prioritising climate change mitigation and considering climate risk in their investment decisions. The Impax Climate Strategy responds to that need, but also to our belief that there are considerable investable opportunities as society adapts to the consequences of climate change. This is part of our wider philosophy that capital markets will be shaped profoundly by a variety of global sustainability challenges, based on our over 20 years' experience investing in environmental markets."

James Crawford, Head of Equity Portfolio Construction, Cbus, said: "Cbus is Australia's leading super fund for building and construction. As a fiduciary, we continue to support investments that reduce our portfolio and real world emissions whilst capturing the enormous opportunities arising to limit global warming to 1.5 degrees. Impax is renowned globally for pioneering investment in opportunities arising from the transition to a more sustainable economy. This investment supports both our need to invest in solutions and our commitment of a 45% reduction in absolute carbon emissions by 2030. Impax's expertise, leadership, and track record of managing climate related listed equity strategies all contributed to our appointing them."

ENDS

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About Impax

Founded in 1998, Impax is a specialist asset manager, with approximately £27.7bn (as of 28 February 2021) in both listed and private markets strategies, investing in the opportunities arising from the transition to a more sustainable global economy.

Impax believes that capital markets will be shaped profoundly by global sustainability challenges, including climate

change, pollution and essential investments in human capital, infrastructure and resource efficiency. These trends will drive growth for well- positioned companies and create risks for those unable or unwilling to adapt.

The company seeks to invest in higher quality companies with strong business models that demonstrate sound management of risk. Impax offers a well-rounded suite of investment solutions spanning multiple asset classes seeking superior risk-adjusted returns over the medium to long term.

Impax has ca. 180 employees across six offices in the United Kingdom, the United States, Ireland and Hong Kong, making it one of the investment management sector's largest investment teams dedicated to sustainable development.

www.impaxam.com

About Cbus

Cbus is the leading Industry Super Fund for the building, construction and allied industries in Australia. As one of Australia's largest super funds, we provide superannuation and income stream accounts to more than 771,000 members and we manage over $59 billion of our members' money (as at 31 January 2020). Our members include workers and retirees, their families and employers.

https://www.cbussuper.com.au/.