Pax World is First U.S. Mutual Fund Family to Go Carbon Neutral

Pax World is First U.S. Mutual Fund Family to Go Carbon Neutral

Pax World Management Corp., advisor to the socially and environmentally responsible Pax World Funds family, is the newest associate member of the Chicago Climate Exchange (CCX), a voluntary, multi-sector market for reducing and trading greenhouse gas emissions.

The company will honor its commitment to purchase carbon financial instruments (CFIs) equal to the firm's indirect greenhouse gas emissions. By doing so, Pax World will offset its entire greenhouse gas emissions that would otherwise contribute to global warming.

"When it comes to the environment, Pax World holds other companies to rigorous environmental standards and we don't feel that we can demand any less of ourselves," said Pax World vice president of social research Anita Green. "This is a direct and quantifiable illustration of our deep commitment to advancing environmentally sound business practices."

"Socially responsible investing has enjoyed tremendous growth and Pax World is a brand name in the community," says Dr. Richard L. Sandor, chairman and CEO of CCX. "We are thrilled to have Pax World as the first SRI mutual fund company to join CCX and we congratulate them for their vision by participating in our program."

Pax World currently estimates that it will offset 360 tons of carbon emissions per year to become a carbon neutral company. This figure is based on employee travel and office energy usage. As an associate member of CCX, Pax World will purchase CFIs and retire them immediately, therefore removing them from the program. This could prompt an entity to consider ways to reduce their GHG emissions rather than purchase CFIs.