SEC Approves Launch of U.S.’ First Sustainability-Focused Stock Exchange

The Green Impact Exchange (GIX) announced that the U.S. Securities and Exchange Commission (SEC) has approved its Form 1 application for registration as a national securities exchange, enabling the GIX to launch as the first sustainability-focused stock market in the U.S.

Founded in 2022 by former NYSE executives, including CEO Daniel Labovitz, former head of regulatory policy at the NYSE, and Chief Operating Officer Charles Dolan, former Executive Floor Governor at the NYSE, GIX aims to be the first national securities exchange in the U.S. dedicated to the emerging global green economy, listing companies that make binding commitments to set, implement, measure, and achieve sustainability goals, and to provide investors with transparency about their progress. The GIX announced the filing of its application with the SEC in July 2024.

With the approval of its application in place, the GIX said that it expects to begin trading in early 2026.

GIX CEO and co-founder Dan Labovitz said:

“Today’s approval order is an important step forward for sustainability-minded investors and companies. We are grateful to the SEC Commissioners and staff for their thoughtful engagement throughout the application process, and their support for market-driven innovations that will improve capital formation. We look forward to launching the Green Impact Exchange.”

The GIX has set a series of guiding principles for companies to list on the exchange, including having a public commitment to long-term sustainability from the company and its board and meaningful mechanisms to hold itself accountable, having a short-, medium-, and long-term plan that will lead to operating the business sustainably, aligning the company’s business strategy with its principles and implementing policies and processes designed to achieve the sustainability commitments and goals, adopting a commonly accepted sustainability framework and committing to regular public reporting of sustainability metrics, ensuring that sustainability commitments are reflected in aspects of the company’s business and operations, and identifying, engaging, and communicating with key stakeholders in company sustainability commitments.

At launch, GIX will be a dual listing venue, with companies required to be listed on another exchange, while the exchange plans in the future to offer companies the option to use GIX as their primary listing venue.

GIX President and co-founder Charles Dolan said:

“Climate risk is business risk. It’s that simple. U.S. investors and companies are continuing to pursue sustainability because it makes financial and competitive sense. Public markets like GIX have a pivotal role to play in connecting sustainable investors with companies that understand that.”