TelosNRG launches bespoke ESG package for renewables

Bronte Carvalho
-
0
TelosNRG launches bespoke ESG package for renewables

UK-based sustainable energy service provider TelosNRG has announced the launch of a bespoke “ESG package” for the renewables industry, designed to help energy sector companies understand and measure their current ESG performance against key markers of progress.

The service will involve utilising Telos’ expertise in ESG credentials to advise companies on the performance of their own investments. Telos will then “continue to provide support to adapt and implement required processes and measures” as clients proceed to improve the ESG success of their stocks.

Telos founder and managing director, Nicol Shepherd, welcomed the launch and explained the direction of the project: 

“We have used our internal resources to undertake a comprehensive review of our own ESG credentials and feel the expertise we have developed should be shared with others. We consider that the experience gained during this process provides us with a unique advantage providing bespoke ESG offerings.

“As a growing company, we will initially focus our ESG efforts helping SMEs working within the energy sector, globally.”

TelosNRG director responsible for ESG, Angus Miller, added:

“We recognised at an early stage that ESG would become a key factor in how a company is judged, not just by shareholders but by a broader set of stakeholders. Without a decent ESG rating, companies, especially in the energy sector, will be unable to attract finance. 

“As important, companies will find it increasingly difficult to attract staff as people become more aware and invested in the impact their company has on all aspects of modern life”.

Edison Group announces democratising ESG reports for investors

Bronte Carvalho
-
1
Edison Group announces democratising ESG reports for investors

Leading investor relations consultancy firm Edison Group has announced the launch of a new series of ESG reports designed to democratise investor access to review companies’ performance and adherence “across the most significant and stringent criteria”.

The reports – collectively called ‘Edison ESG Edge’ – utilise a standardised structure and a “ratified, forward-looking data set of drivers and future performance indicators”, crucial in making companies’ ESG performance easier to discern and to help democratise investors’ access to key markers of success, allowing them to make “more informed investment decisions”.

‘Edison ESG Edge’ will help to solve the challenges investors face in accessing ESG performance data, and will facilitate investor groups obtaining an “all-encompassing report of companies’ financial and ESG drivers”.

In collaboration with data provider Rebalance, ‘Edison ESG Edge’ (fully compliant with the Sustainable Accounting Standards Board (SASB)) begins by analysing data across 10 different “layers” including: strategy, peer benchmarking, ESG SWOT, rebalance scores, environmental performance insight, social responsibility scorecard, socio-political performance, governance scorecard, stakeholder analysis, and ESG Risk and VaR.

The new ESG reporting product then follows up with “in-depth management and employee interviews to test initial hypotheses and mine the narrative behind the data”. The findings are then condensed into a final report with a “strong focus on key ESG drivers, transition opportunities and risks”. Edison’s distribution platform then makes every report available to a global audience of specialist and boutique institutions as well as family offices, wealth managers, retail investors and large institutions.

ESG investing is now a firm feature of mainstream investing, with a recent report by one leading US investment bank finding that flows into ESG funds were up 102% over 2020, and November commitments reaching $47 billion compared with an average of $13 billion in 2019. This upward trend is predicted to continue well into 2021, but access to ESG data is still sparse and at times difficult to assess.

Edison cites investors’ “significant fears over the quality and fragmentation of ESG data” as a driving factor behind the launch of ‘ESG Edge’, and put the ‘greenwashing’ at the very top of their concerns. Assessment of ESG performance has yet to be standardised, and there is a challenge in differentiating true sustainability and what could be merely a green veneer. Many of the data points conceal as much underlying truth as they reveal, Edison warns.

The majority of relevant ESG data is only reaching a “limited proportion of large institutional investors”, which already have the substantial resources and teams of analysts needed to scrutinise such complex data. However, Edison points out that many investor groups – such as family offices and retail investors – are left without the necessary tools to make informed decisions about their investments’ ESG performance.

Neil Shah, Managing Director of Content and Client Strategy at Edison Group, commented on the launch of ‘ESG Edge’:

“While ESG investing is certainly now mainstream most investors do not have access to the level of information they need or the resources to analyse fully ESG data, which is critical for them to make the most informed investment decisions.

“With our Edison ESG Edge reports we address this issue and provide the standardisation of data and the analysis to allow them to accurately assess companies against ESG criteria. Democratising access to ESG data benefits both the companies seeking to prove their ESG credentials as well as the investors looking to commit capital to them, making for more transparent capital markets, which will ensure that, from an ESG perspective, funds flow to the most deserving companies”.

Lidl posts 18% revenue growth & record sales

Safiya Bashir
-
0
Lidl posts 18% revenue growth & record sales

Lidl revealed an 18% jump in revenue and record sales for the four weeks to 27 December.

Sales soared over the Christmas period and the average basket size grew by almost 25% year-on-year as the discount supermarket sold 7,000 glasses of mulled wine and almost 17,000 deluxe mince pies every hour.

Christian Härtnagel, Lidl GB CEO, said:

“Despite this Christmas being a difficult time for many across the country, we are pleased to have been able to help our customers enjoy themselves. As we look ahead to this year, we remain committed to our expansion and investment plans.”

Lidl is opening four new stores across the country, which will create 120 jobs. The supermarket is on track to have 1,000 stores by 2023.

Hartnagel said: “I’m proud of our fantastic teams, from our colleagues working on the shop floor to our colleagues in the warehouse and across our offices, who have driven our expansion efforts around the country.

“We’re looking forward to opening our doors to even more communities this year and into this new decade where we see so much potential for further growth.”

The strong sales at Lidl have meant it is the fastest-growing retailer versus the big four supermarkets: Tesco, Sainsbury’s, Asda and Morrisons.

Last month, Lidl said that it would pay back millions in business rates relief. Lidl said the tax relief had been “vital in allowing the discounter to make significant quick unplanned investments”, however, the supermarket was now able to pay back the £100m.

Synairgen shares surge on trial launch

Bronte Carvalho
-
0
Synairgen shares surge on trial launch

Shares at British biotechnology firm Synairgen (LON:SNG) have surged more than 7% after the launch of its new large-scale Covid-19 treatment trial.

The Southampton-based company treated its first patient at Hull Royal Infirmary on Tuesday afternoon, using the newly-developed formulation SNG001, which involves the inhalation of a naturally-occurring protein named interferon beta which is believed to jumpstart the body’s antiviral response.

The trial – called SG018 – is being conducted across 20 countries and requires 610 Covid-19 participants who receive supplemental oxygen. Early findings released in June 2020 suggested that SNG001 can cut the risk of a patient becoming severely ill (requiring ventilation or resulting in death) by almost 80% compared to those who received a placebo.

Synairgen is also running an ongoing Phase II trial of SNG001 in non-hospitalised “at risk” COVID-19 patients. A course of treatment costs about £2,000.

“We need treatments as well as vaccines to fight highly pathogenic viruses such as SARS-CoV-2. Development of treatments like ours will remain necessary in cases where vaccines are not effective, for those who do not get vaccinated, and in case the virus mutates to the point where vaccines become less effective,” said Richard Marsden, Chief Executive Officer of Synairgen.

“We believe this trial presents an opportunity for a significant UK scientific breakthrough and, if given the right support, our drug could rapidly assist with the global crisis,” he added.

There is still a bit of a catch though: “To be viable it will have to represent good value for money”.

Synairgen shareholders will be pleased with the stock’s performance on Wednesday morning nonetheless, as shares hiked 7.14% to 165.00p as of 10:15 GMT.

Persimmon posts “robust” 2020 trading

Safiya Bashir
-
0
Persimmon posts “robust” 2020 trading

Persimmon has reported “robust” trading during 2020, despite the impact of the pandemic.

In a trading update, the house builder reported a jump in average weekly sales rate per site by 39% over the second half of the year.  Total group revenues were down from £3.65bn to £3.33bn.

Persimmon chief executive Dean Finch said: ““Against the backdrop of the unprecedented challenges of 2020, Persimmon produced a robust performance for the year, as we continued to deliver the new homes the country needs. 

“The group’s strong second half completions were supported by its advanced build coming into the year, an agile and effective response to the Covid-19 pandemic and resilient customer demand.”

“Recent events have served to further demonstrate the continuing near term uncertainties arising from the Covid-19 pandemic. 

“However, we believe that the longer term fundamentals of the UK housing market remain resilient and I am confident Persimmon will continue to deliver superior long term value for all of its stakeholders.”

The number of new home completions fell from 15,885 in 2019 to 13,575 in 2020.

Steve Clayton, Manager of the Hargreaves Lansdown Select UK Income Shares, commented on the Hargreaves Lansdown trading update: “Persimmon enjoyed a strong bounce-back when pandemic-driven restrictions on trading were lifted mid-year. Since then it has bolstered its balance sheet through robust cash generation and a forward sales position of roughly half a year’s expected revenues.

“At this stage, with the end of the stamp duty holiday in sight, taking a cautious view of the immediate outlook is the right approach, but we have seen more bullish outlooks from some of the group’s rivals. Persimmon have also left investors waiting until their full year results in early March for news on the group’s dividend intentions. So perhaps no surprise then to see the shares a little weaker in early trading”.

Persimmon shares are trading -4.56% at 2.658,00 (1015GMT).

Greatland Gold shares rise following receipt of Havieron funding and regulatory approval

UK Investor Magazine
-
0
Greatland Gold shares rise following receipt of Havieron funding and regulatory approval

Greatland Gold shares (LON:GGP) rose in early trade on Wednesday morning following the regulatory and funding approval for the initial infrastructure at the Havieron prospect.

Greatland Gold are engaged in a farm-in agreement with Newcrest Mining to develop the Havieron prospect and the funding approval marks a material milestone in the development lifecycle. The prospect is operated by Newcrest who has a 70% interest in the prospect with the option to increase their stake by 5%.

The Greatland Gold share price rose over 4% to 35p in initial trade on Wednesday morning.

The Havieron drill programme has discovered peak mineral grades of 211.3g/t Au, 12.38% Cu and 4,104ppm, making it one of the most significant gold discoveries of recent years.

“We continue our journey towards potentially achieving commercial production from the Havieron Project within three years from the commencement of the box cut and exploration decline. Mineralisation remains open in multiple directions outside of Havieron’s initial Inferred Mineral Resource estimate and, with infrastructure in place at our nearby Telfer mine, we are excited about this growth project. Together with the support of our stakeholders, we hope to deliver significant value from the Havieron Project and our other exploration prospects in the Paterson Province,” said Newcrest Managing Director and Chief Executive Officer, Sandeep Biswas.

Following the receipt of regulatory approval, Newcrest have moved to deploy A$146 million in funding to begin initial works including construction of a box cut, exploration decline and supporting surface infrastructure.

Newcrest are providing Greatland with access to a $50 million loan facility to fund their share of early works.

Greatland Gold share price

Greatland Gold shares have gained a bumper 1,440% in the past 52-week period and the company now has a market cap of £1,343m at a share price of 35p. This make Greatland Gold the 17th largest company listed on London’s AIM market with ASOS being the largest by market cap.

However, despite today’s gains, Greatland Gold shares are still down circa 5% in 2021 YTD after a substantial rally into the close of 2020.

Greatland Gold shares recorded intra-day highs above 38p on the first trading day of 2021, before falling back.

Just Eat orders surge 58% in Q4

Safiya Bashir
-
0
Just Eat orders surge 58% in Q4

Just Eat orders soared by an impressive 58% in the fourth quarter of 2020.

The takeaway delivery group saw delivery orders in the UK jump by 387% in Q4 compared to the same period in 2019, as people spent the festive period at home amid tighter lockdown restrictions.

Jitse Groen, chief executive of Just Eat Takeaway.com, said: “The fourth quarter of 2020 marks our third consecutive quarter of order growth acceleration. Our investment programme is very successful and has led to significant market share gains in most of our countries.”

“In 2021, we will continue to invest in price leadership, improving our service levels and expanding our offering to restaurants and consumers,” he added.

Global orders at Just Eat increased by 57% and the total Q4 revenues rose over 60% to between €720m (£643m) and €740m (£661m).

Dan Thomas, Senior Analyst at Third Bridge, commented on the results: “Conditions this year were supportive of better operating performance with customers making more frequent orders, larger in size, and at a higher density which potentially means that riders weren’t travelling so far per delivery.

“An expanded delivery capability should enable Just Eat to bring on fresh inventory to the platform, which had heretofore largely relied on restaurants that could fulfil their own orders. Just Eat looks to be taking the fight to large, dense urban centres where Deliveroo and UberEats have typically enjoyed more dominant market positions.”

“Uber Eats and Deliveroo have both been investing in voucher driven customer acquisition, which has an impact on average order profitability over time. A key unknown for 2020 will be the scale with which consumers adopt grocery. All three platforms will be keen to capitalise on the category’s growth during 2020, especially as grocers have struggled to scale their own delivery capabilities. Another important factor will be the performance of the newly acquired Grubhub business in 2021 and beyond,” he added.

In June, the group agreed to buy Grubhub, which means the combined group will be the biggest food delivery company outside of China.

Shares in Just Eat Takeaway.com are -4.53% at 8.658,00 (0904GMT).

Oil hits 11-month high as Brent Crude jumps 1%

Safiya Bashir
-
0
Oil hits 11-month high as Brent Crude jumps 1%

Oil has continued its rally and has hit an 11-month high.

The price of Brent Crude jumped 1% and is over $57 per barrel. The price is expected to pick up as demand surges once the vaccine rolls out and the pandemic comes to an end.

The rally in oil price comes following reports that Saudi Arabia has cut supplies and plans to hold back on production. The kingdom recently pledged that it would cut production by 1m barrels a day in February and March.

Saudi Energy Minister Prince Abdulaziz bin Salman told Bloombeg after an OPEC meeting: ”We have the responsibility of looking after the market, and we will take all necessary actions. I have said this repeatedly and even advised that no one should bet against our resolve. Those who have listened are now bearing the fruits; the others — good luck with their ouching.”

Connor Campbell from SpreadEx commented on this move after announced: “With Saudi Arabia agreeing to a cut in output, oil was able to strike an 11-month high, prompting some rather larger gains for BP, up 4.4%, and Shell, rising 2.5%. And when those giants are in a good mood it tends to bode well for the FTSE – the UK index rose close to 1%, returning to the 10-month peak it fell from on Monday following the announcement of Lockdown 3.0.”

The price of oil also jumped earlier this week, after Goldman Sachs said that it expects Brent prices to reach $65 per barrel by this summer.

Unemployment higher than official figures suggest

Bronte Carvalho
-
0
Unemployment higher than official figures suggest

The governor of the Bank of England, Andrew Bailey, has suggested that the UK’s unemployment rate may actually be higher than official figures currently show as the coronavirus pandemic continues to drive a surge in redundancies.

In a speech to business leaders at the virtual Scottish Chambers of Commerce conference, Bailey acknowledged that the UK economy is in “a very difficult period” as it navigates a third national lockdown.

Echoing comments by Chancellor Rishi Sunak on Monday that the economy “is going to get worse before it gets better”, Bailey added that it would definitely bounce back, but only after the current lockdown ends and the freedoms afforded by mass vaccination begin to materialise.

“[We’re] in a very difficult period at the moment and there’s no question that it’s going to delay, probably, the trajectory,” Bailey said, but maintained that the shape of the UK’s recovery would largely follow the projections made the Bank’s monetary policy committee (MPC) last November.

Commenting on unemployment rates, Bailey estimated that some 2.2 million Brits are currently out of work – about 6.5% – which is noticeably higher than the official figure of 4.9%. However, the latest figure only covers the three months leading up to October 2020, not taking into account the November national lockdown nor the one which began earlier this month.

Bailey said that the figure is already higher despite the extra measures that Sunak has announced – including a further £4.5bn last week for the hospitality sector – stating: “Our best guess nationwide is probably it’s around 6.5%”.

The Bank’s MPC is due to meet early next month to discuss how the central bank can help to boost the economy during the current lockdown, including whether or not interest rates should be cut to below zero, but Bailey has already said that a cut from the current all-time low of 0.1% could make the situation worse.

He added there were “lots of issues” with cutting interest rates into negative territory and that the move could hurt banks, despite the fact that Japan and parts of the eurozone have already initiated a similar policy.

“In simple economics and maths terms, there is nothing to stop it at all,” Bailey said, “however there are a lot of issues with it”.

Contrasting with Bailey’s official stance, on Monday one of the MPC’s nine committee members – Silvana Tenreyo – said she believed negative rates would benefit the UK economy and help it make a faster recovery.

Consumer spending down 2.3% in December

Bronte Carvalho
-
0
Consumer spending down 2.3% in December

Consumer spending declined 2.3% year-on-year in December – the largest decline since June 2020 – as tightened coronavirus restrictions resumed their chokehold on UK retailers and hospitality.

Figures collated from a report by Barclaycard revealed that the hospitality sector was particularly hard hit, with spending at bars and pubs down by 71.4% and restaurants by 65.4%. New measures brought in towards the end of December saw millions of Brits cancel their festive social plans, with bars and pubs suffering from curbs on gatherings and restaurants forced to return to takeaway-only services in the run up to the New Year.

Online retail, on the other hand, increased by 52.2% as Brits shopped from home, continuing the ongoing trend towards online shopping which saw retailers enjoy a surge in online sales during the Christmas period. Specialist retailers (such as toy shops, jewellers and gift shops) and clothing all enjoyed “significant growth online”, rising 61.9% and 34.0% respectively, as shoppers turned to online stores for last-minute gifts and pre-Christmas sales.

Brits also continued to make the most of their time indoors, purchasing new boxsets, downloading new video games and ordering takeaways, with eating and drinking up 81.0% and digital content and subscriptions up 41.4% amid “strong online increases”.

Local shops continued to perform well, with specialist food and drink retailers such as butchers, bakeries and off-licenses recording a 43.7% increase, as more than half (54%) of Brits say they will “do what they can to support” local businesses during 2021.

However, tighter restrictions on how and when people can leave their homes towards the end of the year saw in-store retail drop 8.3%, with department stores and clothing seeing declines of 15.2% and 7.3% respectively. Airlines and travel agents, however, saw slight improvements in consumer interest as vaccine optimism continues to buoy hopes of a sustained recovery.

While overall travel contracted by 63.8%, there was an “improvement” in spending across some categories in the sector. Airlines saw a less steep decline of 58.1% in December compared to the previous month’s decline of 73.6%. Additionally, travel agents recorded a smaller drop this month of 72.3%, as one in five Brits (22%) say they are “already making plans for a big holiday” at some point in 2021, fuelling optimism for a potential recovery later in the year.

While Brits’ confidence in the economy remains low at just 22%, confidence in household finances is currently at 68%, with almost a quarter of Brits “feeling more confident about spending on non-essential items than they have been for a long time”. Support provided by Chancellor Rishi Sunak’s furlough scheme – extended to at least April 2021 – has no doubt contributed to this faith.

Out of those feeling more optimistic about their finances, 40% say that this is because they have “saved more than normal” recently.

Raheel Ahmed, Head of Consumer Products at Barclaycard, commented:

“Changing restrictions continue to have an impact on our spending habits – which was particularly acute across the high-street and hospitality sectors in December, with restaurants, pubs and bars hardest hit during a low-key festive season in the majority of the UK. As a result of further restrictions, online grocery spend surged and fuel declined as the majority cancelled their plans and stayed home for the holidays.

“Additionally, many still continued to support their local shops where possible, spending more time in their local community. Small businesses have continued to remain agile to these changing consumer habits – with many going online for the first time. From dog walking services to subscriptions of weekly meal kits, small businesses are exploring new ways to reach their customer base.  

“With the latest government guidance to stay at home and a vaccine roll-out on the horizon, we are all hopeful of a brighter and more prosperous year ahead. Yet for now, the reality of lockdown life remains and it’s once more a hugely challenging time for high-street retailers as well as the hospitality, leisure and travel industries”.

1...1,0251,0261,027...1,784Page 1,026 of 1,784