Hammersmith & Fulham Council is set to offer a new investment which allows the community to fund local climate and ecological projects.
The green scheme is aiming to raise up to £5 million over the next few years, which would make it the largest investment issued by a UK council.
It would allow residents and businesses the opportunity to make an impact in their community, and earn a fixed return on their low-risk investment.
The scheme was announced by Cllr Rowan Ree, H&F Cabinet Member for Finance and Reform at a full council meeting on Wednesday 1 November.
Cllr Ree said: “This is a rare win-win-win. Residents can make an investment with a fixed return and know that their money is being invested in projects that will help improve their area. And the council can borrow at a lower rate, reducing the interest costs on green projects.”
The proposed investment would help fund community and council projects to improve H&F’s environment, says the Green Finance Institute.
Such projects can span a range of improvement schemes, including:
- retrofitting projects, such as adding solar panels and heat pumps to power our buildings and local homes more efficiently
- new cycle lanes and bike parking to build on H&F’s growing cycle transport network
- more sustainable drainage schemes to help reduce the risk of local flooding in times of heavy rain.
The scheme is set to be approved by H&F’s Cabinet on Monday 6 November. Watch this space for more details.