• First-of-its-kind: Green Impact Exchange (GIX) becomes the first U.S. national securities exchange focused solely on sustainability.
• Capital shift continues: Despite ESG fund outflows, private investment in climate-tech surged 65% YoY to $5B in Q1 2025.
• Market-readiness: GIX targets early 2026 launch with support from MEMX and listing plans for hundreds of sustainability-focused firms.

The U.S. Securities and Exchange Commission (SEC) has approved the Green Impact Exchange (GIX), paving the way for the country’s first national stock exchange dedicated to sustainability.

GIX will offer a public market tailored to companies and investors aligned with environmental, social, and governance (ESG) principles. The SEC’s approval of its Form 1 application positions GIX to launch in early 2026, pending final regulatory services with FINRA.

“Today’s approval order is an important step forward for sustainability-minded investors and companies,” said Dan Labovitz, GIX CEO and co-founder. “We are grateful to the SEC Commissioners and staff for their thoughtful engagement… and their support for market-driven innovations that will improve capital formation.”

The move comes amid turbulence in the ESG investment sector. ESG-focused ETFs saw $5.7B in outflows last week—the steepest in over a year—while sustainable equity funds lost nearly $9B in March, per Bloomberg and Barclays data.

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Despite those signals, GIX leadership sees strong long-term demand.

“U.S. investors and companies are continuing to pursue sustainability because it makes financial and competitive sense,” said Charles Dolan, GIX co-founder and president. “Public markets like GIX have a pivotal role to play in connecting sustainable investors with companies that understand that.”

Backed by MEMX trading technology and integrated into the National Market System (NMS), GIX will offer competitive, non-tiered pricing and liquidity programs. Its dual-listing model will spotlight companies with transparent and robust sustainability governance.

Labovitz noted strong early interest: “We’ve been in contact with hundreds of companies over the past 18 months. We’re not seeing evidence of a slowdown on the ground. If anything, we are seeing signs that it will continue to grow.”

Meanwhile, private capital continues to fuel green innovation. U.S. climate-tech startups received over $5B from VC and private equity in Q1 2025—a 65% increase YoY, according to PitchBook.

As GIX prepares to enter the $35 trillion sustainability economy, it positions itself as a vital bridge between capital markets and companies adapting to climate-driven risks and opportunities.

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