Sustainability rules force Impact Healthcare to change name

Impact Healthcare REIT has changed its name ahead of new rules from the Financial Conduct Authority kicking in that stop companies using sustainable terms such as “impact” without meeting certain criteria. The company will now be known as Care REIT, which it said would “better reflect the real estate we invest in”. It added that the move means the company will now meet the FCA’s updated Sustainability Disclosure Requirements. “The name change follows changes to the FCA’s SDR, which restrict companies from using certain sustainable terms and labels, such as ‘impact’, in investment products which can be bought and sold by retail investors unless strict criteria are adopted,” the REIT said. “The company confirms that its investment policy, strategy and objectives remain unchanged and that there will be no change to its business and operations. Through its investments in UK healthcare real estate, the company remains focused on providing shareholders with attractive and stable returns over the long-term and also remains committed to contributing positively to social outcomes.” The FCA’s naming and marketing rules come into effect in December. Photo © Stuart Bailey/Pixabay