HSBC Pumps £250 Million Into Renewable Energy

The HSBC UK Pension scheme has committed to invest £250 million in renewable energy infrastructure.

The HSBC pension scheme, one of the UK’s largest with 16,ooo members, will focus its renewable investment on solar plants and wind farms and will generate enough clean electricity for the entire population of Oxford.

Russell Picot, chair of the Trustee Board at HSBC Bank Pension Trust (UK) Limited, said: “Renewable energy infrastructure can provide attractive risk adjusted returns for investors seeking predictable cash flows derived from real assets over the long term.

“The investment characteristics of inflation linked assets such as these are well suited to provide the income required to meet our long term pension liabilities.”

Renewable energy infrastructure can provide attractive risk adjusted returns for investors seeking predictable cash flows derived from real assets over the long term

The investment will be managed by Greencoat Capital, the UK’s largest specialist renewables investor.

Richard Nourse, managing partner at Greencoat Capital, said: “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.”

This investment will help HSBC fulfil its goal to source 100 per cent of their electricity from renewable sources by 2030.

The announcement follows the UK Government’s Green GB week with several companies such as John Lewis and Amazon also committing to a sustainable future.

Renewable energy provides around 30 percent of Britain’s electricity.

 

 

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