An increased interest in impact investing is enabling asset managers that take environmental, social and governance issues into account to see rapid growth in the past year, according to Impax Asset Management.

Assets under management at Impax, a sustainable investment asset manager, grew by 59 percent in a year, according to the investment company’s annual report.

Assets at Impax, which handles investments primarily for institutional clients using listed and private equity strategies that focus on environmental markets, grew to $5.7 billion this year, up from approximately $3.5 billion in 2105.

Ian Simm, CEO of Impax, attributes the company’s success, in part, to the increased interest in impact investing, or investing that has a positive effect on the environment and communities. Studies have shown women and millennials, in particular, value impact investing.

The overall market for sustainable or impact investing is growing rapidly, according to the World Resources Institute, a research organization that focuses on sustainability issues. The market represents $8.7 trillion in investments in the U.S. and has grown by 385 percent since 2007.

One in five investments in the U.S. now takes environmental, social and governance issues into consideration and asset owners are increasingly screening for risks to their portfolios and looking for opportunities in clean energy markets, says the Institute.

On Monday, December 12, Morningstar released research showing sustainable investing performs as well as other investments. Barclays announced Friday that it found a slight benefit for portfolios made up of corporate bonds when they took sustainable issues into consideration. Impax says it is taking advantage of these factors. This negates the idea that sustainable investing results in lower returns, Barclays says.

At Impax, “our investments are based on our strong conviction that population dynamics, resource scarcity, inadequate infrastructure and environmental constraints will profoundly shape global markets, creating investment risks and opportunities,” Impax says. “We expect that these trends, reflecting the transition towards a more sustainable global economy, will drive earnings growth for well-positioned companies” in the future,

“When you are in uncertain times for economic growth, people look to specialist assets. Using resources effectively, such as improving the way energy is used or the way wastes are disposed of, becomes more attractive for investors,” Simm says.

“The area where the Trump Administration may have a positive effect on the environment is an increased investment in infrastructure,” he says.