Real Assets
We build future energy systems and resilient infrastructure, backing emerging opportunities in technology, land and water.
WHEB Environmental Impact Fund (ICAV)
A premium sustainability impact product focused on achieving attractive financial returns by investing in opportunities created by the transition to zero-carbon and sustainable economies. Reports & Documents
Introduction
The WHEB Environmental Impact Fund invests in companies selling products and services that help to meet these challenges. We invest in high quality, innovative businesses that can turn these growing cashflows into profits that provide an attractive return for our investors.
Launch date
8/12/2021
Holdings
20-40
Fund type
ICAV / UCITS
Fund size
£47m
as at 31/9/2025
Overview
The investment objective of the fund is to achieve capital growth over five years, investing globally in the shares of companies that provide solutions to environmental challenges and falling within certain sustainable investment themes.
Why does it matter?
The global economy is in the early stages of a transition to a zero-carbon, nature positive and more sustainable system. Technologies and business models that stabilise the climate and support biodiversity are becoming more prevalent. The WHEB Environmental Impact Fund is a high conviction, concentrated portfolio suitable for environmental mandates and targets focused on climate change, decarbonisation, transition finance and net-zero carbon.
SFDR Article 9 fund
The WHEB Environmental Impact Fund is an SFDR Article 9 fund which means it has a clear sustainability objective incorporating both environmental and social aims and meets sustainability-related disclosure and reporting requirements.
Reports & Documents
Jan 2025
Investment Advisory Committee: Summary minutes
Feb 2025
KIID
Label
Title
Intro
Description
£
Resource efficiency
CO2e emissions avoided
Equivalent to the electricity use of average European homes for one year2 and saving
in avoided carbon costs.3
Cleaner energy
Renewable energy generated
Equivalent to the annual electricity use of
European
households.
4
Environmental services
Waste material recycled
Equivalent to the annual waste produced by European households, saving
in reduced landfill costs.5
Water savings
Water saved
Equivalent to the water used by showers.6
Health
Achieving healthier lives and improved well-being
Water treatment
Wastewater treated
Equivalent to the total annual wastewater of European households. 7
Well-being
Healthier lives and improved
well-being provided
Education
Of tertiary and vocational education provided
R&D
Amount spent on products
and services supplied by companies in the WHEB strategy and used in healthcare R&D
Investor
Your investment of in the FP WHEB Sustainability Impact Fund
has been associated with the following positive impact during :
Company Profile
First Solar
Theme: Cleaner Energy
Region: US
First Solar is a US-based manufacturer of solar photovoltaic (PV) panels. Headquartered in Arizona, the company is the leading supplier of thin-film modules that are used primarily in utility-scale and commercial power plants.
Investment thesis: First Solar modules are the key element in a solar farm and represent a critical technology in decarbonising the global economy. Solar PV is a near-zero emission technology with a dramatically lower carbon footprint than traditional power generation technologies.
Company Profile
Xylem
Sector: Water Management
Region: US
Xylem manufactures a wide range of products and provides services to the water industry. The company’s water infrastructure business provides a range of pumps, filtration and testing and treatment equipment to water utilities.
Investment thesis: The company also supplies commercial, residential markets with water and wastewater systems, and provides measurement and control solutions. Xylem’s strategy is characterised by the application of intelligent technology to improve water efficiency, in products such as smart meters and intelligent monitoring equipment.
Impact Calculator
Enter the value of your investment to see how much impact is associated with that amount in the FP WHEB Sustainability Impact Fund in 2024.
Exchange rate as of 31 December 2024 using Bank of England exchange rates
Note: In pursuing the Fund’s sustainability objective there is always the possibility of unintended / negative impacts. For example, an increase in the use of plastics as a result of investing in vaccine development.
£
Resource efficiency
CO2e emissions avoided
Equivalent to the electricity use of average European homes for one year2 and saving
in avoided carbon costs.3
Cleaner energy
Renewable energy generated
Equivalent to the annual electricity use of
European
households.
4
Environmental services
Waste material recycled
Equivalent to the annual waste produced by European households, saving
in reduced landfill costs.5
Water savings
Water saved
Equivalent to the water used by showers.6
Health
Achieving healthier lives and improved well-being
Water treatment
Wastewater treated
Equivalent to the total annual wastewater of European households. 7
Well-being
Healthier lives and improved
well-being provided
Education
Of tertiary and vocational education provided
R&D
Amount spent on products
and services supplied by companies in the WHEB strategy and used in healthcare R&D
Download a PDF of this calculation. You can add an investor name or leave it blank.
1Investors in WHEB’s strategy are aligned with these positive impacts by investing in companies that form part of crucial supply chains that manufacture these products and provide these services. WHEB’s investments contribute to the attainment of the impact, however, are not solely responsible. The impact is therefore referred to as ‘associated’.
2The average carbon footprint of a grid-connected household in Europe is c2tCO2e (https://www.sciencedirect.com/science/article/abs/pii/S1364032123000102)
3Based on an average global carbon price of US$32 per tonne. (https://www.visualcapitalist.com/sp/visualized-the-price-of-carbon-around-the-world-in-2024/)
4Based on average electricity usage of 11.63MWh.
5Based on a landfill tax of £103.70 per tonne of waste, which is equivalent to the UK’s landfill tax in 2024.
6An average shower use assumed to use 62 litres of water.
7An average European household uses 105,000 litres of water per year.
Investor
Your investment of in the FP WHEB Sustainability Impact Fund
has been associated with the following positive impact during :
Important Information
An investment in the WHEB Sustainable Impact Fund and the WHEB Environmental Impact Fund (together the “Funds”) should be considered a longer-term investment that may be higher risk. Portfolio holdings are subject to change without notice.
Your capital is at risk. The value of units in the Funds may increase or decrease and you may not get back the amount originally invested, for reasons including adverse market and foreign exchange rate movements. Past performance is not a reliable guide to future results. For full risks and investor rights, please see the relevant prospectus and Key Investor Information Document for the fund information.
Foresight Group LLP does not offer legal, tax, financial or investment advice and the information on this website should not be construed as such. We recommend investors seek advice from a regulated financial adviser. The opportunity described in this document may not be suitable for all investors. Any such investment decision should be made only on the basis of the Fund scheme documents and appropriate professional advice.
Foresight Group LLP acts as investment manager and is authorised and regulated by the Financial Conduct Authority with Firm Reference Number 198020 and has its registered office at The Shard, 32 London Bridge Street, London SE1 9SG.
The Manager of the Funds is FundRock Management Company S.A., authorised and regulated by the Luxembourg regulator to act as UCITS management company and has its registered office at Airport Center Building, 5, Heienhaff, L-1736 Senningerberg, Luxembourg.
We respect your privacy and are committed to protecting your personal data. If you would like to find out more about the measures, we take in processing your personal information, please refer to our privacy policy, which can be found at http://www.foresight.group/privacy-policy.