First nonprofit ETF issuer reinforces
commitment to fighting climate change with transparent, verified
solution to reducing carbon emissions
Impact Shares, Corp., the first 501(c)3 nonprofit ETF sponsor in
the U.S., today announces its partnership with Climate Vault, an
award-winning nonprofit that created the world’s first verifiable,
integrated carbon reduction and removal solution, to neutralize the
carbon emissions of the portfolio holdings of the Impact Shares
Sustainable Development Goals Global Equity ETF (NYSE: SDGA).
Through this partnership, Climate Vault reduced 370 metric tons
of carbon emissions, which Impact Shares, Corp. believes is
approximately equivalent to that generated by the portfolio
holdings of SDGA.. Climate Vault accomplished this by purchasing
allowances on government-regulated compliance markets and
“vaulting” them — storing them within the Climate Vault accounts in
these compliance markets — to prevent polluters from using
them.
Climate Vault will use the monetary value of these vaulted
allowances to purchase cutting-edge carbon dioxide removal (CDR)
technology that will eliminate historical carbon emissions, an
essential step to slowing and reversing climate change. By
partnering with Climate Vault to reduce SDGA’s carbon footprint,
Impact Shares will automatically receive access to the most
forward-thinking CDR technology, which has been independently
audited and vetted by Climate Vault’s Technology Chamber. The
Technology Chamber is composed of world-renowned experts, and
chaired by former Secretary of Energy Ernest Moniz.
“In the current political and regulatory environment, the
private sector has an immense responsibility to lead the fight
against climate change,” notes Ethan Powell, CEO and Founder of
Impact Shares. “Impact Shares is committed to creating innovative
financial vehicles to help solve our world’s most pressing social
and environmental problems. We’re honored to partner with Climate
Vault as we play our part in the transition to a more sustainable
global economy.”
As a pioneer in impact investing, Impact Shares is the first
non-profit ETF sponsor to partner with Climate Vault to decarbonize
an ETF. Backed by The Rockefeller Foundation, Impact Shares helps
organizations such as the NAACP, YWCA and United Nations Capital
Development Fund (UNCDF) translate their values into an investable
product traded on the New York Stock Exchange. SDGA tracks the
Morningstar® Societal Development Index, which is designed to
measure the performance of large and mid-capitalization companies
globally that (i) display a commitment to the UN’s Sustainable
Development Goals, (ii) adhere to the principles of the UN Global
Compact, (iii) display a commitment to reducing poverty and
supporting economic development globally and (iv) have exposure to
countries with low levels of socioeconomic development.
Named to Fast Company’s “World Changing Ideas 2022 list,”
Climate Vault has, since its launch in 2021, reduced ¾ of a million
mt of carbon, the equivalent of preventing 72,000 passenger cars
from driving around the Earth.
Through this innovative partnership, Impact Shares and Climate
Vault are working to modernize and disrupt the conventional
exclusionary approach to ESG, which while well-intended, has
minimal quantifiable impact on addressing carbon emissions. As a
forward-looking, data-driven antidote, Impact Shares and Climate
Vault are working to measurably reduce and remove carbon from an
ETF.
“There is exploding demand for ESG financial products but
oftentimes their impact on global CO2 emissions is unclear,” said
Michael Greenstone, Co-Founder of Climate Vault and Milton Friedman
Distinguished Service Professor of Economics at the University of
Chicago, and former Chief Economist for President Obama's Council
of Economic Advisers. “We’re excited to partner with Impact Shares
in an effort to make their Sustainable Development Goals Global
Equity ETF carbon neutral – benefitting both investors and, more
importantly, the planet. This is about moving the environment and
business forward together and creating a healthier, better future
for our kids and their kids.”
About Impact Shares
Impact Shares is a nonprofit fund sponsor and investment manager
that is creating a new and innovative platform for clients seeking
maximum social impact with market returns. Impact Shares' goal is
to build a capital markets bridge between leading nonprofits,
investors and corporate America to direct capital and social
engagement on societal priorities. Impact Shares is a tax-exempt
non-profit organization under Section 501(c)(3) of the Internal
Revenue Code. For more information about Impact Shares, visit
impactetfs.org.
About Climate Vault
Climate Vault is a Carbon Disclosure Project (CDP)-accredited
501(c)(3) climate solutions start-up founded at the University of
Chicago by former senior White House economic advisor Michael
Greenstone and prominent business leaders. Climate Vault delivers
the world's first verifiable, integrated carbon reduction and
removal solution, providing a fast, easy and credible way for
organizations and individuals to achieve carbon neutrality. Our
market-based solution is focused on immediately reducing carbon
footprints by purchasing allowances from highly-regulated
compliance carbon markets and ultimately converting those
allowances into funding for cutting-edge carbon dioxide removal
(CDR) tech that will remove carbon emissions from the atmosphere,
forever. Climate Vault's CDR initiative is backed by a "Technology
Chamber" composed of leading climate science experts, including
former U.S. Secretary of Energy, Ernie Moniz. Since our launch in
2021, we've been named to Fast Company's list of "World Changing
Ideas," and reduced ¾ million tons of CO2 for our partners, the
equivalent of preventing 72,000 passenger cars from driving around
the Earth. Leading brands such as T. Rowe Price, Vanderbilt
University, TPG, Morningstar, Gemini and Danfoss trust Climate
Vault to build tailored carbon programs that deliver quantifiable
results and enduring impact. Visit www.climatevault.org to learn
more, calculate your individual footprint, and help your
organization or financial portfolio reach carbon neutrality.
Carefully consider the Fund’s investment objective, risk
factors, and expenses before investing. This and additional
information can be found in the Impact Shares statutory and summary
prospectus, which may be obtained by calling 844-448-3383, or by
visiting ImpactETFs.org. Read the prospectus carefully before
investing.
Investing involves risk, including the possible loss of
principal. Narrowly focused investments and investments in smaller
companies typically exhibit higher volatility. Investments in
commodities are subject to higher volatility than more traditional
investments. The Fund may invest in derivatives, which are often
more volatile than other investments and may magnify the Fund’s
gains or losses. The Fund is non-diversified.
Shares of any ETF are bought and sold at market price (not NAV)
may trade at a discount or premium to NAV and are not traditionally
redeemed from the Fund. Brokerage commissions will reduce
returns.
SDGA is distributed by SEI Investments Distribution Co, which is
not affiliated with Impact Shares or Climate Vault.
United Nations Capital Development Fund does not endorse and/or
recommend any commercial or other products including financial
products, goods, or services.
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version on businesswire.com: https://www.businesswire.com/news/home/20220927005341/en/
Caitlyn Foster Gregory FCA for Impact Shares
Impactshares@gregoryfca.com 484-798-7739
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