The business was founded in 1998 to invest in companies whose work might reduce resource scarcity, with support from the International Finance Corporation.

[3][4][5][6] On 18 September 2017, the group plc announced that it had entered into agreements to acquire 100% of Pax World Management LLC.

[7] In December 2018, the company announced that it would be opening an operation in Dublin to serve clients after Brexit (the withdrawal of the United Kingdom from the European Union).

[14] It also manages listed equity funds on behalf of third parties including BNP Paribas.

[16] However, it remains exposed to the risks that have adversely affected developers in the solar and wind industries.