abrdn invests in The London School of Economics and Political Science
abrdn has invested £75m in a sustainable private placement on behalf of its strategic partner Phoenix Group in The London School of Economics and Political Science (LSE).
The long term loan, issued under the School’s Sustainable Finance Framework, will be used for green and social projects at the School, including a new building overlooking Lincoln’s Inn Fields Park in central London that will provide adaptable spaces for teaching, research and conferences. The building has been developed with sustainability, energy efficiency and carbon minimisation at the core of its design and is set to be LSE’s first Net Zero Carbon building.
Located in the heart of central London, LSE has a global reputation for academic excellence and is currently ranked the top European university for social science and management in the QS World University Rankings by Subject. LSE has a truly global reach with students from over 150 nationalities studying at the School, and with over 160,000 alumni the university can count 18 Nobel Prize winners and 37 past and present world leaders among those who have benefited from an LSE education.
LSE is also a leader in sustainability, which is woven through the institution via its Sustainability Strategic Plan, and can be evidenced by becoming the first UK Carbon Neutral University, verified to PAS 2060 by BSI, a global certification organisation.
Matt Hamilton-Glover, investment manager at abrdn, said: “This investment allows us to support LSE’s long-term mission: ‘for the betterment of society’ whilst matching the long term liabilities of our strategic partner, Phoenix. In particular, with this investment LSE will be better enabled to teach and inspire the next generation of leaders, de-carbon their estate and undertake research in key areas aligned with the UN’s Sustainable Development Goals – these are values which we at abrdn share with LSE.”
Mike Ferguson, LSE’s chief finance officer, added: “Securing this investment is a milestone moment for LSE. The funding will play a crucial role in helping us realise our ambition of being the leading social science institution with the greatest global impact and securing a sustainable future, as set out in our strategic plan, LSE 2030.”