Impact Report

Global Impact Strategy

Portfolio Commentary

The year under review was marked by a variety of cross currents—China’s sudden post Covid-reopening, extreme weather, geopolitical tensions, and rapidly rising interest rates. Amidst this backdrop, the Global Impact strategy returned +16.9%, largely in line with the MSCI All Country World Index.

Guided by our experienced in-house team of ESG and financial analysts, the strategy targets product solutions companies whose revenues stand to benefit from increasing demand and regulatory directives.

With a dual objective of competitive performance and impact generation through improved capital allocation and shareholder engagement, we look for companies that demonstrate cutting-edge innovation and leadership in our impact focus areas: Climate Change and Earth Renewal, Inclusion and Empowerment, and Health and Community Well-being. The result is a portfolio comprised of many of the best-placed companies given current global trends.

As the world transitions to a regenerative economy, we expect environmentally conscious companies that develop eco-efficient products and services will see revenues and profits grow much faster than the overall marketplace. Drawing on our ESG-integrated, Impact-seeking research process, we will continue to identify and invest in the companies we believe are best positioned for this sustainable transition.

Biemans, Corne

Corné Biemans
Portfolio Manager

Shareholder Engagement Summary


Engagement Issue Areas: Banking on a Low Carbon Future Climate Action 100+, Food Emissions, High Carbon Emitters, Investors for Sustainable Solar, Net Zero Asset Manager Initiative, Sustainable Chemicals Management


Engagement Issue Areas: Access to Healthcare, Activating Engagement in Asia, Digital Human Rights & Ethical AI (Artificial Intelligence), Prioritizing Gender


Engagement Issue Areas: Board Diversity, ESG Disclosure, Governance of Sustainability, Lobbying Oversight and Disclosure

Global Impact Solution Company Spotlights


Sells insulation materials to the building & construction industry, helping them improve their energy efficiency and carbon footprints.

Impact Investment Theme: Community Investing

First Solar

100% of First Solar’s revenues are generated from the provision of solar panels and solar photovoltaic power system development and operations.

Impact Investment Theme: Renewable Energy

Xylem Inc

70.5% of Xylem’s revenues in 2021 come from its water infrastructure and measurement and control solutions segments. The company ensures the safety and efficiency of water utilities, provision of clean water, and conservation of water resources.

Impact Investment Theme: Water Quality and Waste Management


AZEK generates about 60% of its revenues from recycled materials and 75% of revenues from the residential segment. Recycled content from flooring and furniture industries form the wood core of AZEK’s decking products and is used in the plastic outer layer of its products.

Impact Investment Theme: Efficiency and Recycling

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