Impax Asset Management recently converted a $100 million mutual fund into the Global Infrastructure ETF (BLDX), with plans to convert more funds in the future based on investor preference. The move comes amid a shift towards active ETFs, with a record 60 mutual funds converting to ETFs last year.

Despite a surge in sustainable investing in recent years, net outflows in sustainable mutual funds and ETFs totaled $84 billion in 2025, compared to $38 billion in net inflows in 2024. The US has seen a decline in sustainable fund assets, with pushback against ESG criteria from Republican leaders and the Trump administration.

A federal judge ruled a Texas anti-ESG law unconstitutional, which had blacklisted Impax for allegedly boycotting the oil and gas industry. Impax remains committed to its investment thesis of transitioning towards more efficient and less polluting industries. The company’s move to ETFs signals a broader trend in the industry.

Read more at Yahoo Finance: Sustainable Investor Impax Adds First ETF