News in the spotlight: Fidelity appoints Elly Irving as Stewardship Director
Bermuda‑headquartered Fidelity International has appointed Elly Irving as Director of Stewardship, based in London, to bolster its corporate engagement efforts across EMEA and the Americas. Reporting to Flora Wang, Head of Stewardship, Irving will drive progress on environmental, social, and governance (ESG) issues, enhancing Fidelity’s global stewardship…
Products and Services
Impax Converts Global Sustainable Infrastructure Fund to ETF Structure
Impax Asset Management has converted its established Global Sustainable Infrastructure Fund—launched in 2016—into the Impax Global Infrastructure ETF, marking the firm’s entry into exchange-traded funds. Now trading on the New York Stock Exchange as of 2 February 2026, the ETF retains the original active strategy, targeting long-term capital growth and income through a diversified portfolio of listed companies powering the sustainable economy transition. Investments span clean energy and electrification, digital infrastructure, water and waste management, and other critical systems addressing resource constraints, policy shifts, and technological innovation. The shift to ETF structure responds to advisor demand for intraday liquidity, tax efficiency via creation/redemption mechanisms, and seamless integration into brokerage platforms like Fidelity, Schwab, and Pershing, without altering Impax’s fundamental investment philosophy.
Triodos Bank secures Fair Tax Mark certification
Triodos Bank, a leading European sustainable bank operating across the Netherlands, UK, Spain, Belgium, and Germany, has become the first international bank to earn the Fair Tax Mark certification from the Fair Tax Foundation. The accreditation, covering Triodos Bank N.V., its subsidiaries including Triodos Investment Management and Triodos Bank UK, recognises adherence to the world’s first global standard for responsible tax conduct. The Fair Tax Mark verifies that organisations follow both the letter and spirit of tax law, avoid artificial tax havens, and maintain full transparency on profits and taxes paid on a country-by-country basis. For Triodos, this aligns with its exclusion of tax avoidance schemes from direct investments and lending, while supporting fair tax systems that reflect stakeholder interests and economic value creation.
responsAbility selected to manage EUR 200mn Emerging Market Impact Mandate
M&G Investments has announced that responsAbility, its emerging markets impact investing arm, has been awarded a EUR 200 million mandate from German family office Stella Vermögensverwaltungs GmbH, the investment entity of the Heinz Hermann Thiele Family Foundation and Julia Thiele-Schürhoff. The capital will be channelled into growth-stage companies in Africa, Asia and Latin America that advance the UN Sustainable Development Goals, with a focus on regions where private finance can close critical funding gaps. The strategy is explicitly built around a triple bottom line of profit, people and planet, targeting businesses that create good-quality jobs, provide essential goods and services, and operate environmentally sustainable models, while aiming for attractive long-term returns. Stella views emerging markets as offering higher impact per euro invested, integrating this mandate into a broader allocation to growth-equity impact across social and climate themes.
Regulations, Law and Frameworks
FCA Proposes IFRS-Aligned Sustainability Disclosure Rules for UK-Listed Companies
The UK Financial Conduct Authority (FCA) has launched Consultation Paper CP26/5, proposing to overhaul sustainability disclosure rules for listed companies by aligning them with the UK Sustainability Reporting Standards (UK SRS)—derived from ISSB’s IFRS S1 and S2. Published on 30 January 2026 with responses due by 20 March, the reforms replace outdated TCFD requirements, focusing on financially material climate and wider sustainability risks to enhance investor transparency and market integrity. For commercial companies, non-equity shares, and transition categories, the FCA mandates UK SRS S2 climate disclosures (excluding Scope 3 emissions, which remain ‘comply or explain’), alongside ‘comply or explain’ reporting on non-climate sustainability matters under UK SRS S1. Companies must detail governance, strategy, risk management, and metrics for risks/opportunities reasonably expected to impact prospects, with flexibility for cross-referencing in annual financial reports. Secondary listings and depositary receipts face lighter transparency rules on primary jurisdiction standards and voluntary frameworks, avoiding duplication.
GHG Protocol Releases Global Standard for Land Sector Carbon Accounting
The Greenhouse Gas Protocol (GHG Protocol) has unveiled its first-ever global Land Sector and Removals Standard (LSRS), a transformative framework for corporate accounting of emissions and carbon removals from land use, agriculture, forestry, and emerging technologies like direct air capture. Published on 30 January 2026 after five years of development, the standard—effective from 1 January 2027—fills critical gaps in Scope 3 reporting for food, agriculture, consumer goods, and retail sectors where land-related emissions dominate footprints. Key innovations include a hierarchy of calculation methods—from direct land use change (dLUC) at farm level to jurisdictional approaches (jdLUC)—prioritising traceability and data accuracy to combat greenwashing. It mandates linear discounting for historical emissions, assigning greater responsibility to recent deforestation while enabling removals accounting for conserved natural ecosystems within production units, aligned with Accountability Framework and SBTi Forest Land and Agriculture (FLAG) guidance.
Net Zero Commitments
Google Signs 15-Year PPA for Offshore Wind to Power German AI Infrastructure
Google has signed a 15-year Power Purchase Agreement (PPA) with German utility EnBW to source 100 megawatts of electricity from the He Dreiht offshore wind farm in the North Sea. The wind farm will help power Google’s cloud region in Germany and support the company’s broader efforts to match its energy consumption with carbon-free energy sources every hour by 2030. This agreement represents Google’s first offshore wind PPA in Europe and aligns with its sustainability strategy and growing energy needs driven by artificial intelligence (AI) and digital infrastructure. The deal also contributes to the decarbonisation of Germany’s energy sector, emphasizing the role of corporate agreements in accelerating the energy transition. EnBW, the project developer, is expanding its offshore wind portfolio and views long-term PPAs as vital for managing market risks and financing large-scale renewable projects. The He Dreiht wind farm will total 960 megawatts and is being built without government subsidies.
Leadership Announcements
Fidelity appoints Elly Irving as Stewardship Director
Bermuda‑headquartered Fidelity International has appointed Elly Irving as Director of Stewardship, based in London, to bolster its corporate engagement efforts across EMEA and the Americas. Reporting to Flora Wang, Head of Stewardship, Irving will drive progress on environmental, social, and governance (ESG) issues, enhancing Fidelity’s global stewardship and ESG capabilities while emphasising transparency, accountability, and responsible investment. With nearly two decades of experience, Irving previously served as Director of Stewardship at Lazard Asset Management and Head of Engagement at Schroders, bringing deep expertise in sustainability and investment‑focused ESG integration. Her role underscores stewardship as a cornerstone of Fidelity’s investment approach, aimed at improving client outcomes through effective corporate dialogue.