Impax Environmental Markets plc (IEM) is an investment trust that focuses on environmental markets, investing primarily in quoted companies that derive significant revenues from sectors such as alternative energy, energy efficiency, water treatment, pollution control, and waste technology. The trust operates globally and targets long-term capital growth by capitalizing on the demand for cleaner and more efficient solutions to essential services. Its benchmark is the MSCI ACWI, reflecting its broad geographic and sectoral investment approach.