1、Annual Report&AccountsFor the year ended 31 December 2022Annual Report&AccountsFor the year ended 31 December IMPAX ASSET MANAGEMENT ImpaxAMImpax Environmental Markets plc Annual Report and Accounts 2022Impax Asset ManagementCBP018022This report is printed on Nautilus Superwhite recycled.The paper s
2、tock is manufactured from FSC Recycled 100%post-consumer waste pulp.It is manufactured in accordance with ISOcertified standards for environmental,quality and energy management and is Carbon Balanced.IMPAX ENVIRONMENTAL MARKETS PLCIEMplcImpax Environmental Markets plcimpaxenvironmental marketsplc.co
3、.ukContentsStrategic ReportInvestment Objective,Financial Information Performance Summary 1Chairmans Statement 2Managers Report 5Structure of the Portfolio 9Ten Largest Investments 10Details of Individual Holdings 12Environmental Markets 14Sustainability&Stewardship in the Portfolio 19IEM Climate Di
4、sclosure 21Biodiversity and Nature 25IEM Stewardship 30Investment Policy,Results and Other Information 32Engaging with our Stakeholders 39GovernanceBoard of Directors 43Directors Report 45Corporate Governance 49Directors Remuneration Policy 53Directors Remuneration Implementation Report 54Report of
5、the Audit Committee 57Statement of Directors Responsibilities 59Independent Auditors Report 60FinancialsIncome Statement 66Balance Sheet 67Statement of Changes in Equity 68Statement of Cash Flows 69Notes to the Financial Statements 70Investor Information10 Year Financial Record 84Alternative Perform
6、ance Measures 85Glossary 87Directors,Manager and Advisers 88Notice of Annual General Meeting 89Impax Environmental Markets plc|Annual Report and Accounts 2022|1Strategic report20212021202120212022202220222022-15.0%-20.1%-22.8%-8.1%21.3%13.1%30.1%19.6%FINANCIAL INFORMATION At 31 December 2022PERFORMA