Fossil Free Indexes (FFI), a New York-based provider of benchmarks, tools, and research that support carbon-responsible investing, announced the expansion of its management team today. The firm added two new members:
- Chris Ito, a financial services executive with previous successes in launching and growing a variety of businesses and with hands-on investment management experience, joins Fossil Free Indexes as Chief Operations Officer.
- Jag Alexeyev, a veteran asset management consultant in the area of business strategy, whose previous accomplishments include building a global fund research and advisory business, joins as Director of Research and Product Development.
Company founder and CEO, Stuart Braman, expressed excitement at the addition of Mr. Ito and Mr. Alexeyev. “Chris and Jag are an excellent fit for FFI. They enhance our collective skill set and knowledge base, and at the same time, they align themselves well with our core values. They each have the experience and expertise that are required for FFI right now: to transition from an ambitious start-up to a leading global provider of solutions for responsible and sustainable investing. We could not be more pleased to have them join us.”
In 2014, FFI created Fossil Free Indexes US (FFIUS), the first fossil free broad-based market index based on the S&P 500 and screened for The Carbon Underground 200, FFI’s list of the top 200 public oil, gas, and coal companies ranked by the potential carbon emissions content of their reported reserves.
Both the Carbon Underground 200 and the FFIUS index are being used by asset managers and investors to reduce the carbon content of their portfolios and the financial risks associated with fossil fuel holdings. The ten-year performance of the index demonstrates that investors do not have to sacrifice returns if they divest from fossil fuel companies. During 2014 alone, the FFIUS index outperformed the S&P 500 index by 1.5%. In the coming year, FFI expects to expand both its client base and its index offerings. It also plans to create fossil free investment vehicles within various investment strategies.
Mr. Ito and Mr. Alexeyev see great potential in the company. Mr. Ito reflected: ”Our team has a great opportunity to apply its collective experience to achieve commercial success while supporting investors who seek to manage the risks of climate change. FFI is uniquely positioned to support environmentally responsible investment strategies and I and look forward to helping build upon the momentum that has the team has generated over the past year.”
Mr. Alexeyev expressed similar confidence: “I am delighted to join FFI to help build investment solutions that reduce the financial risks related to climate change, and support the transition to a low-carbon economy. We see tremendous opportunities for innovative research services that will help investment managers, foundations, family offices, pension consultants, and institutions to better assess and respond to carbon and climate risks. We believe that climate and carbon risk assessment will be one of the biggest trends in investment management during the coming decades.”
For more information about FFI, go to http://www.fossilfreeindexes.com.