MultiGreen Properties Awarded B Corps Status

RNS Number : 0265Y

i(x) Net Zero PLC

02 September 2022

 

REACH

i(x) Net Zero PLC

("i(x) Net Zero" or the "Company")

MultiGreen Properties Awarded Certified B Corporation Status

i(x) welcomes latest US climate legislation

i(x) Net Zero (AIM: IX.), the investing company which focuses on Energy Transition and Sustainability in the Built Environment,  is pleased to announce that its portfolio company MultiGreen Properties ("MultiGreen"), a real estate development and operating company dedicated to the building of attainable, sustainable and technology-enabled multifamily housing, has become a Certified B Corporation ^TM (also known as B Corp).

Certified B corporations are businesses that meet the highest standards of verified social and environmental performance, public transparency and legal accountability to balance profit and purpose. Granted by B Lab, a global non-profit organisation, the B Corp Certification measures a company's entire social and environmental performance. It aims to redefine success beyond purely financial returns, to be more inclusive, balancing profit with purpose.

Separately, i(x) Net Zero also welcomes the passing of the "Inflation Reduction Act of 2022" by the US Congress in relation to key legislation tackling climate change.

Subject to becoming law, this piece of legislation allocates approximately $369 billion to reducing greenhouse gas emissions and incentivises expanded production and use of domestic clean energy. i(x) Net Zero believes that the legislation will increase the opportunities for growth available to the companies in which it is invested.

Steve Oyer, CEO of i(x) Net Zero, said : "MultiGreen is creating economic growth and catalytic social impact in supply-constrained housing markets. The B Corp status accreditation is further proof that MultiGreen is operating to the highest sustainability standards with due consideration being given to all of its stakeholders.

"This achievement, coupled with an increasingly positive legislative environment for companies driving forward the energy transition, as seen with the Inflation Reduction Act, gives us further confidence in the future growth of our portfolio companies."

Randy C. Norton, Chairman of MultiGreen, commented : "We are incredibly proud to have joined this esteemed group of companies and organisations that are working towards an inclusive, equitable and regenerative economy. B Corps are forces for good and we at MultiGreen, which was founded on the principle that housing is a human right, believe that we are making a positive difference, one home at a time."

For further information, visit   https://ixnetzero.com/  or contact:

Buchanan
Helen Tarbet	[phone]
Simon Compton	[phone]

Notes to Editors

About i(x) Net Zero PLC

i(x) Net Zero PLC is an AIM quoted investing company that provides its shareholders the opportunity to create long-term capital growth with positive, scalable, measurable and sustainable impact on the environment and on the communities it serves.

In accordance with its belief that the world's biggest problems are also the biggest market opportunities, i(x) Net Zero focuses on two critical areas in which it aims to make a positive impact: (i) Energy Transition and (ii) Sustainability in the Built Environment. The Company uses a multi-strategy investment approach, providing the companies in which it invests with the expertise and catalytic capital to help them grow. To date, i(x) Net Zero has invested in biofuels, direct air capture (carbon removal), renewable energy, sustainable workforce housing and net zero energy construction technology.

i(x) Net Zero is a provisional signatory to the UN Principles for Responsible Investing. The Company has received the London Stock Exchange's Green Economy Mark.

 

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