HSBC UK pension scheme to invest £250m in renewable energy

The HSBC UK pension scheme will invest £250m in renewable energy in Britain, following a competitive tender process.

The funds will be invested into large-scale solar assets and smaller onshore wind farms.

HSBC Bank Pension Trust (UK) Ltd managing director, Mark Thompson commented: “We’re looking at new green opportunities because they make clear financial sense. Schemes such as ours want steady, inflation-adjusted income streams. Renewable infrastructure assets provide this return profile and are largely uncorrelated with traditional capital markets.”

The pension scheme, which manages assets on behalf of 190,000 members, held a competitive tender for the mandate, which was won by Greencoat Capital.

The scheme will acquire solar plans and wind farms from developers in Britain. It has not yet selected its acquisitions but aims to have a portfolio capable of generating energy for an area of homes the size of Oxford.

Greencoat Capital managing partner, Richard Nourse added: “We’re delighted to be partnering with one of the country’s largest pension funds and helping to finance the implementation of the UK’s climate objectives. HSBC UK Pension Scheme has been at the forefront of responsible investment with a very large allocation to ESG factor equities through LGIM and now a significant push into low carbon real assets.”

HSBC made the announcement during the government’s initiative to raise awareness of the benefits of renewable energy: “Green GB Week”.

Thompson concluded: “Greencoat Capital are highly experienced managers in this sector and we look forward to building a long-term relationship.”

    Share Story:

Recent Stories


FREE E-NEWS SIGN UP

Subscribe to our newsletter to receive breaking news and other industry announcements by email.

  Please tick here to confirm you are happy to receive third party promotions from carefully selected partners.


Helping the credit challenged get mortgage ready
A rising number of borrowers are finding it harder to access mortgages due to being credit challenged - whether that’s from historic debts, a county court judgment, or having little to no credit history.

In the latest episode of the Mortgage Insider podcast, Phil Spencer is joined by Eloise Hall, Head of National Accounts at Kensington Mortgages, and Alastair Douglas, CEO of TotallyMoney.


Inside the world of high net worth lending
The mortgage market continues to evolve, and so too does the answer to the question: what is a high net worth individual in today’s market? In this episode of the Mortgage Insider podcast, host Phil Spencer is joined by Stephen Moroukian, Head of Product and Proposition for Real Estate Financing at Barclays Private Bank, and Islay Robinson, founder and CEO of Enness Global. Together, they explore what brokers really need to know when supporting high net worth individuals.

The future of the bridging industry and the Autumn Budget
MoneyAge content editor, Dan McGrath, is joined by head of marketing at Black & White Bridging, Matt Horton, to discuss the bridging industry, the impact of the Autumn Budget and what the future holds for the sector.