It launched an ESG bond portfolio in 1987 and a non-U.S. ESG portfolio in 1992. In 1995, it debuted Calvert Impact Capital. Now, Calvert Impact offers notes targeting community investment, carbon reduction and a more inclusive banking system. It also offers several small business recovery funds. Calvert's responsible mutual funds offer actively and passively managed strategies. Impax Asset Management Group PLC (OTC: IPXAF) This is another firm that grew its impact investing offerings through an acquisition. In 2017, it announced that it would buy Pax World Management. At the time, Impax said it was a "combination of two pioneering firms focused on the transition to a more sustainable economy." Impax was founded in 1998, while Pax began in 1971.