Introduction
Impax is a specialist asset manager investing in the opportunities arising from the transition to a more sustainable global economy. Impax has been one of the longest-standing members of the FAIRR investor network, joining in 2016. This case study explains how Impax’s team has utilised its FAIRR membership to support their stewardship and advocacy efforts. Insights for this case study were provided by the Co-Heads of Impax’s Sustainability Centre Lisa Beauvilain, Global Head of Sustainability & Stewardship, and Chris Dodwell, Global Head of Policy & Advocacy.
What motivated Impax to become a member of FAIRR?
Investors are increasingly aligning their portfolios to address climate and nature risks. The food sector is deeply exposed to material risks from climate change and biodiversity loss, and it needs to transition towards a more sustainable system that can be sustained and feed a growing global population. FAIRR provides deep and valuable insights for investors of the risks and opportunities within food systems.
What was valuable about participating in FAIRR facilitated engagement with corporates?
FAIRR’s approach, rooted in creating a more sustainable, resilient and equitable food system, supports Impax to understand and address these multifaceted risks and identify opportunities for investors.
For this reason, Impax participated in a FAIRR-facilitated engagement program with food retailers and manufacturers to integrate sustainable protein sources into climate transition plans to address climate risks. The engagement acted as a catalyst for companies to support the adoption of healthy, sustainable diets.
FAIRR’s resources and support through the multi-year engagement were instrumental in enabling effective dialogue with companies over many years on these important topics and seeing progress as part of that process.
How has FAIRR’s policy work and network supported Impax, and what benefits has it provided?
Participating in FAIRR’s policy workstream gives Impax a valuable platform to collaborate with other investors on driving system level change in agriculture. FAIRR’s COP26 investor statement initiated investor pressure on governments to include ambitious agricultural greenhouse gas reduction targets in their nationally determined contributions (NDCs). Impax then worked with FAIRR on a follow-on investor statement urging the FAO to develop a global 1.5°C aligned roadmap for the agrifood sector, which led to the publication of an initial roadmap in 2023. These efforts are now prompting national level responses, including the UK’s development in 2024 of a Food System Net Zero Transition Plan under the Net Zero Council.
This report is provided for informational purposes only and is not intended to be, and should not be construed as, an offer, solicitation or recommendation with respect to any transaction and should not be treated as legal advice, investment advice or tax advice. Recipients should not rely upon this information as a substitute for obtaining specific legal or tax advice from their own professional legal or tax advisors. References to specific securities and their issuers are for illustrative purposes only and are not intended and should not be interpreted as recommendations to purchase or sell such securities. Indices and trademarks are the property of their respective owners. Information is subject to change based on market or other conditions.
