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LSE Secures £175m for Green and Social Projects

LSE Secures £175m for Green and Social Projects
05 April 2022
 

The funding for the London School of Economics and Political Science includes the development of a new building, 35 Lincoln’s Inn Fields.

 

“Securing this funding is a historic moment for LSE and a milestone on our journey to achieve our ambition to be the leading social science institution with the greatest global impact.”

–Minouche Shafik

Director, LSE

 

35 Lincoln’s Inn Fields (35 LIF)

 

A new landmark site overlooking Lincoln’s Inn Fields Park in central London, 35 LIF will include adaptable spaces for teaching, research and conferences. And with sustainability, energy efficiency and carbon minimisation at the core of its design, it is set to be LSE’s first net-zero carbon building.

The new space will be a continuation of LSE’s sustainability work and design, including the Saw Swee Hock Student Centre (2014, BREEAM Outstanding), the Centre Building (2019, BREEAM Excellent) and the Marshall Building (2021, BREEAM Excellent).

 

First Carbon Neutral Verified University in the UK

 

This announcement follows recent news that LSE is the first carbon-neutral verified university in the UK for all its measured emissions thanks to ongoing work by the School to reduce its carbon footprint and mitigate its residual emissions by supporting carbon reduction projects.

LSE’s direct emissions have reduced by 44 per cent since 2005, despite an increase in campus size and student numbers.

 

Image

 

Sustainable Private Placement Funding

 

LSE was able to secure the funding, which is worth £175 million, through the issue of its inaugural Sustainable Private Placement. This transaction was supported by banking partner NatWest.

LSE worked with NatWest to develop a Sustainable Finance Framework aligned with ICMA and LMA Principles. These are a collection of voluntary frameworks designed to promote the role of global debt capital markets in financing environmental and social sustainability goals.

The Framework intends to contribute toward UN Sustainable Development Goals, including sustainable cities & communities (SDG 11), climate action (SDG 13) and affordable and clean energy (SDG 7).

Commenting on the funding, LSE’s Director Minouche Shafik said: “Securing this funding is a historic moment for LSE and a milestone on our journey to achieve our ambition to be the leading social science institution with the greatest global impact.”

Picture: a photograph from LSE’s campus showing the exterior of LSE’s Saw Swee Hock Student Centre.  A large globe-shaped sculpture can also be seen. Image Credit: LSE

Article written by Ella Tansley | Published 05 April 2022

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