CEO Dan Labovitz on GIX's Form 1 Filing

On behalf of everyone at the Green Impact Exchange (GIX), I’m pleased to announce that Securities Exchange Commission (SEC) has published our application seeking approval as a national securities exchange. This is an important and exciting step on our journey to accelerate the world of sustainable investing and stimulate the global green economy.

GIX will be the first national securities exchange in the U.S. dedicated to the global green economy. Analysts estimate that the transition to a cleaner, sustainable economy could add $50+ trillion to global GDP by 2050 as companies invest in mitigating environmental risks and capitalizing on increasing revenue from environmentally friendly opportunities. Enabling investors to evaluate companies’ agility and resiliency to adapt to these opportunities and risks—and allocate capital accordingly—is the job that free markets were designed to do.

To function optimally, efficient markets need timely, uniform, transparent, and trustworthy information, not only about what a company has done but also what it will continue to do and how it will do it. Despite this need, existing sustainability standards and frameworks aren’t optimized to ensure accountability around reporting. This allows some companies to engage in “greenwashing” to attract sustainable capital – promising to be sustainable without doing the important work to make it happen and reporting results selectively (or not at all) with little risk of meaningful consequences if they mislead investors.

GIX will bring needed uniformity, transparency, and accountability to sustainability disclosures for investors and stakeholders alike. We will do this through enforceable listing standards that emphasize green governance (the infrastructure that ensures a company follows through on its promises) and require companies to be more transparent in disclosures about their sustainability goals, strategies, and progress.

At a juncture like this, it is worthwhile pausing for a moment to reflect on how far we have come as a company. Despite many challenges and long odds, we took the idealistic notion that listing exchanges can help companies establish credibility around their sustainability promises, recruited a team of experts to help build on that idea, and are now standing on the cusp of being able to put it into action. Our journey would not have been possible without the support of our investors and the hard work of our outstanding team and valued partners. I offer all our supporters my heartfelt thanks and look forward to continuing our journey.

As we move forward, there is a meaningful way you can help: Our application has been published on the SEC’s website and will be in the Federal Register within a few days. Once it’s published in the Federal Register will be a 45-day public comment period, during which you can post supportive comment letters. The SEC Commissioners will then review the application and comments, and then decide whether to approve GIX’s registration as a national securities exchange. We are optimistic about obtaining approval and are projecting to officially launch the Green Impact Exchange in approximately early 2025 (depending on the SEC’s timeline).

GIX will strengthen capital markets and improve investor confidence in the overall quality of corporate sustainability disclosures. We thank you for your support to this point, and we welcome you to join us as we continue on this exciting journey, whether as a supporter, advisor, partner, investor, or listed company.

Sincerely,

Daniel Labovitz

P.S. If you’d like to join our mailing list, please sign up here. If you’d like to submit a comment letter stay tuned for future updates where we will explain the process in more detail.