GIX, an enterprise established in 2022 by former NYSE executives is striving to lead the US in sustainability-focused financial operations.
According to ESG Today, the initiative to establish this innovative stock exchange stems from the need to cater to sustainability-focused investors and to assist companies in tapping into a growing pool of sustainable investment capital.
GIX positions itself as the first national securities exchange in the U.S. committed to the emerging global green economy. The exchange lists companies that are actively pursuing sustainability goals, offering a platform that promotes transparency and accountability in corporate sustainability efforts.
GIX’s forthcoming exchange will require all listed companies to adhere to its stringent Green Governance Standards. These standards are designed to ensure that companies engage in sustainable practices and provide clear, accountable reporting on their sustainability metrics.
The standards that GIX enforces include a public commitment by listed companies to long-term sustainability and engagement strategies involving key stakeholders. Companies must also align their business strategies with sustainable principles and have actionable plans across multiple timeframes to implement these strategies effectively.
The exchange is anticipated to begin operations 3-4 months following SEC approval, marking a significant advancement in capital markets tailored for environmental sustainability and economic growth.
“Today’s filing is a major step forward for sustainable investors and capital markets. GIX will connect investors who care about sustainability with companies that are credibly committed to becoming and being sustainable,” Green Impact Exchange CEO Daniel Labovitz said. “Capital markets have historically enabled companies to efficiently raise needed capital for business development and innovation. GIX will harness the power of markets to benefit the environment, improve investor protection, and drive economic growth as the world shifts toward a greener economy,” Green Impact Exchange chief operating officer Charles Dolan said.
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