Our journey to a net zero carbon world

We support Legal & General Group’s climate ambitions by providing support and investing early-stage scale-up companies to deliver the innovation, clean technology and renewable energy infrastructure needed to meet UK and global UN climate targets and SDGs.

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Our Investments

We seek new innovations and technology that can accelerate progress to a low carbon economy and with the potential to secure sustainable returns for investors – our investment in Oxford PV is a leading example of this.

In November 2016, we invested in Oxford Photovoltaics Limited (Oxford PV), an early stage technology spin-out from the University of Oxford, to commercialise perovskite, a low-cost, highly efficient solar cell absorber material that can vastly improve a solar panel’s ability to convert sunlight into electricity.

Oxford PV solar cells are setting world records for efficiency and hold the potential to make every solar panel substantially more efficient, produce more electricity and thereby provide higher volumes of renewable electricity to use in buildings and connect to power grids across the world.

In 2016 we invested in NTR Asset Management Europe, a specialist sustainable infrastructure manager established to invest in the construction and long-term operation of wind farms, solar plants and battery storage assets across the UK and Europe.

We support the scale-up and success of the platform by investing in its first two funds to build new renewable energy assets that already deliver significant volumes of green electricity to power homes and avoid carbon emissions.

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NTR are a signatory to the UN Principles for Responsible Investment (PR). In its PRI Assessment Report 2019-2020, NTR Achieved an "A" rating in Strategy & Governance and an "A+" rating in Infrastructure.

In 2020, we invested into The Kensa Group, one of the UK’s largest manufacturer and installer of ground source electric heat pump technology, to enable them to scale up to meet the challenge of decarbonising heating in the UK. Kensa is the only integrated supplier of ground source heat pumps and their technology is one of the most reliable and efficient ways to provide heat and help deliver homes with zero operational carbon emissions. 

Kensa will play a major role in an inclusive transition to low carbon heating, supporting significant UK job creation in the low carbon sector as both a manufacturer and installer of its heating products. 

In February 2019, we invested in Pod Point, the electric vehicle charging business, to scale up the provision of electric vehicle (EV) charging infrastructure in the UK. In February 2020, we increased our stake to c.23%, forming a joint venture strategic partnership with EDF combining our investment, commercial and operational support for Pod Point’s strong growth.

Learn more about our investment in Podpoint 

How are we supporting the UK’s plan to achieve net zero carbon emissions by 2050? 

We are investing in three sectors of the energy system that must achieve substantial reductions in emissions to meet climate targets; power, heat and transport.