If approved, GIX would begin operations in
early 2025.
NEW
YORK, July 17, 2024 /PRNewswire/ -- The
Green Impact Exchange (GIX) announced today that it has filed an
application with the Securities and Exchange Commission seeking
approval as the first stock market in the U.S. dedicated to the
emerging $50+ trillion global green economy.
GIX will list companies that make a binding commitment to set,
implement, measure, and achieve sustainability goals, and be
transparent with investors about their progress. Companies that
want to be recognized for their commitment to sustainability can
dually-list on GIX without giving up their primary listing
exchange.
"Today's filing is a major step forward for sustainable
investors and capital markets," said GIX CEO and co-founder
Dan Labovitz. "GIX will connect
investors who care about sustainability with companies that are
credibly committed to becoming and being sustainable."
"Capital markets have historically enabled companies to
efficiently raise needed capital for business development and
innovation." remarked GIX co-founder Charles Dolan. "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."
GIX's listing standards create accountability for companies by
requiring them to have an internal governance infrastructure that
supports their sustainable promises. Investors can rely on GIX to
distinguish between companies that are serious about sustainability
and companies that are greenwashing.
"Accountability for sustainability promises is key. The
marketplace needs a 'trust but verify' approach to help reduce
greenwashing," commented Shiva Rajgopal, Columbia Business School professor and GIX Advisor.
"There's a tremendous financial opportunity to bring together
sustainable-minded investors with companies working hard to meet
their environmental commitments. For that opportunity to be
realized, there needs to be better transparency and accountability
of sustainability initiatives and reporting. GIX will provide
that."
The GIX trading platform will be powered by state-of-the-art
technology. GIX will offer non-tiered, competitive liquidity and
quoting programs 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 implement a Return to Green program that commits a
portion of its gross revenue to support organizations on the front
lines of sustainability efforts.
About The Green Impact Exchange:
The Green Impact
Exchange (GIX) will be the first national securities exchange in
the U.S. dedicated to the emerging $50+ trillion global green
economy. GIX's innovative listing standards prioritize sustainable
governance, meaningful disclosures and accountability. The
standards will improve investor confidence in environmental
commitments, encourage sustainable capital formation, and combat
greenwashing. GIX was founded by a team of financial services
professionals with decades of deep experience in global exchanges,
market & trade operations, corporate governance, and
sustainability.
To learn more, please visit our website at
https://www.tradegix.com/ or reach out to us at
info@tradegix.com. Tomorrow's blue chips will be green!
Media Contact:
Ivette
Almeida
Almeida Communications
E. Ivette@almeidacomm.com
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SOURCE Green Impact Exchange