News in brief - 11 February 2022

Pension Insurance Corporation (PIC) has agreed to fund and acquire a centrally located development in Milton Keynes for its third built-to-rent project.

The £80m redevelopment of a brownfield site will provide 306 new residential apartments, 43 of which will be affordable housing which will employ around 750 people on site during construction, which is due to complete in late 2024. PIC expects to invest £30bn in productive finance projects by 2030, but as its recent analysis of the current Solvency II review made clear this figure could rise £50bn with 'appropriate, timely reform'.

Invesco has announced the launch of the Invesco Environmental Climate Opportunities Bond (UK).

The bond aims to offer investors the opportunity to invest for income growth in a way that supports the transition to a low-carbon global economy. The fund will take a 'multi-pronged and pragmatic' approach to climate investing, investing in issuers with low emissions; those with high emissions that have significant potential to reduce their carbon output; green, transition and sustainability-linked bonds that aim to raise funds for climate-friendly projects; and companies that have made commitments to net-zero carbon emissions.

Quilter is rolling out a series of responsible investment training modules to help advisers, in line with FCA guidance, to accommodate environmental, social and governance (ESG) considerations into their advice process.

The training will consist of three modules and is designed to help advisers understand and embed ESG factors into their business. The first module ‘understanding responsible and sustainable investment’ is being rolled out now with the remaining modules, which include practical advice on how advisers can incorporate ESG into their advice process.

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