Sustainable Development Capital (SDCL) has been around since 2007, always focused on the energy efficiency space and decentralised projects, with a pretty wide geographical remit active in  Europe, the UK, NA and Asia).

Over the years, energy efficiency as a concept has kind of become more mainstream and visible, and in 2018 SDCL went public with an energy efficiency vehicle in London, SEEIT.

Its investments since listing have included all manner of energy efficiency assets – decentralised solar, CHP, LED lighting, onsite utility services, and more,  all backed by long-term contracts.

Maritina and Fernando sit down with founder and CEO Jonathan Maxwell to talk about how far SEEIT has come since listing, how investors’ attitudes towards the asset class has changed, and importantly, how the definition of EE has evolved over time and what that means for the investment proposition.

Link to podcast

Result of Open Offer, Placing, Offer for Subscription and Intermediaries Offer

 The Board of Directors (the “Board”) of SDCL Energy Efficiency Income Trust plc (the “Company”) is pleased to announce that the Open Offer, Placing, Offer for Subscription and Intermediaries Offer (the “Initial Issue”) has received a strong level of support from both institutional and retail investors.

 Taking into account the Company’s acquisition pipeline, the Board, after consultation with the Investment Manager and the bookrunner, Jefferies International Limited, has determined to increase the target size of the Initial Issue from gross proceeds of £175 million to £250 million.

Link to RNS

The SDCL managed investment vehicle, SDCL Energy Efficiency Income Trust plc (LSE: SEIT) has published its Annual Report and Audited Financial Statements for the year ended 31 March 2021.

Available at the following Link

SDCL’s Energy Efficiency Income Trust (SEEIT) more than doubled its market capitalisation, from £352 million ($491.2 million) to £760 million in the past year. So far the fund has made nine investments into energy efficiency and decentralised generation projects in the UK, Continental Europe, North America and Asia.

SEEIT published its first environmental, social and governance (ESG) report and found that over the 12 month period it has saved 156,000 tonnes of carbon emissions, produced 113,000 MWh of renewable energy, supported nearly 1,300 jobs and saved 44,500 MWh of energy, from its energy efficiency investments. It was also resilient to the fallout of the Covid-19 pandemic as its services were essential to the wider economy as demonstrated by that period having no material impact on the portfolio’s performance.

“SDCL are delighted to have been awarded Boutique investment manager of the year by Environmental Finance,” said Jonathan Maxwell, CEO and founder of SDCL. “I am extremely proud of what the team has achieved over the past year and this award is much deserved recognition of their hard work and dedication.”

One Environmental Finance Sustainable Investment Awards judge commended SDCL’s “very strong track record of directing significant capital to vital decarbonisation objectives and can evidence impressive impact”. And added it has “good in house expertise and integration”. While another judge concluded it was a “strong submission with clear focus on real-world impacts”.

Climate and sustainable finance related executive orders signed on inauguration day

Last week on inauguration day, President Biden issued his first set of executive orders. These included re-joining the Paris Agreement and addressing the climate crisis, halting the Trump Administrations’ pending regulations, and expanding COVID-19 protections. These executive orders highlight some of the Biden Administration’s priorities : COVID-19, climate, racial equity, economy, healthcare, immigration and restoring America’s global standing.

DOL fiduciary duty rules go in effect, now under review from Biden Administration

Two Department of Labor rules went into effect last week: Financial Factors in Selecting Plan Investments and Fiduciary Duties Regarding Proxy Voting and Shareholder Rights. However, the Biden Administration will review a number of the previous administration’s actions, including Financial Factors in Selecting Plan Investments, under the Executive Order on Protecting Public Health and the Environment and Restoring Science to Tackle the Climate Crisis

Link to Website

SDCL’s Founder and CEO Jonathan Maxwell catches up with Michael Liebreich in the latest episode of Cleaning Up.

Cheaper, cleaner and more reliable.

Link to Video