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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Schroders plc    SDR   GB0002405495

SCHRODERS PLC

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Schroders : Investors back call for Britain to issue 'Green +' gilts

10/07/2020 | 12:50pm EST

LONDON, Oct 7 (Reuters) - Investors managing more than 10 trillion pounds ($13 trillion) on Wednesday backed a call for Britain to join a growing number of countries issuing sovereign bonds to help fund environmentally friendly projects and bolster social goals.

Thirty groups including Schroders and Natwest said they supported the idea of a 'Green +' gilt, as proposed by the Green Finance Institute, the Impact Investing Institute and the LSE Grantham Research Institute on Climate Change and the Environment.

Unlike a straight green bond, the Green + gilt would also help the government meet social goals such as creating jobs.

The proposal comes days after Prime Minister Boris Johnson pledged to 'build back greener' from the COVID-19 pandemic and as Britain gears up to host the next round of global climate talks in 2021.

"The UK’s first green sovereign bond, issued at scale, would catalyse the development of the sterling green bond market, and would send a signal to global capital markets and policymakers of the UK's commitment to sustainable finance," the groups said in their proposal.

"We would welcome the UK government issuing a Green+ Gilt. It would be a clear commitment to the environment, to both investors and future generations," said Peter Harrison, Chief Executive Officer at Schroders.

"It would help attract further capital into this important area. Financing greener infrastructure and jobs are long-term investments that will support sustainable economic growth."

A total of 16 countries have so far issued green bonds, most recently Sweden and Germany, where both issues were oversubscribed, the group said.

($1 = 0.7746 pounds) (Reporting by Simon Jessop Editing by Alexandra Hudson)


© Reuters 2020
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Financials
Sales 2020 2 041 M 2 727 M 2 727 M
Net income 2020 470 M 628 M 628 M
Net cash 2020 2 969 M 3 967 M 3 967 M
P/E ratio 2020 19,5x
Yield 2020 3,50%
Capitalization 8 350 M 11 212 M 11 156 M
EV / Sales 2020 2,64x
EV / Sales 2021 2,44x
Nbr of Employees 5 673
Free-Float 61,4%
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Number of Analysts 19
Average target price 2 839,61 GBX
Last Close Price 3 262,00 GBX
Spread / Highest target 8,83%
Spread / Average Target -12,9%
Spread / Lowest Target -29,5%
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Managers
NameTitle
Peter Harrison Group CEO & Executive Director
Michael William Romsey Dobson Chairman
Richard Keers Chief Financial Officer & Executive Director
Ashley Lester Global Head-Research
Stewart Carmichael Chief Technology Officer
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