More than 700 people have contributed more than £740,000 to the H&F Green Investment designed to power local green projects.
The scheme was launched last month. “This is an exciting opportunity for us all to come together to make local climate-friendly projects happen more quickly,” said Helen Dell, H&F resident commissioner for climate and ecology.
Many local residents and businesses are now enjoying a fixed 4.85 per cent a year return on their investment.
The opportunity is open until 13 February 2024 (or until the initial funding target of £1million has been reached).
Father Richard, from Our Lady of Fatima Church in White City, praised the innovative scheme: “H&F Green Investment feels like a really ground-breaking move. It gives people the opportunity to show their commitment to the transformation of our local environment and to literally have their stake in that urgent work.”
The investment has already helped transform Eelbrook Common. Next, it will help us bring new bike hangars to a street near you.
Casey Abaraonye, co-owner of Fulham cycle shop OMA Bikes, backed the scheme by saying: “We often worry about whether the money we put into banks and institutions is doing good or harm. And what more we can do to improve our environmental impact. Here is a way to affect that can benefit us, both personally and socially.”
Capital at risk. Investments are long-term and may not be readily realisable. This content has been approved as a financial promotion by Abundance, which is authorised and regulated by the Financial Conduct Authority (525432).
Holding investments in an IFISA does not reduce the risk of the investment or protect you from losses. You can still lose all your money. It only means that any potential gains from your investment will be tax-free. The tax treatment of your investment will depend on your circumstances and may change in the future.
H&F Green Investment, a loan, is compliant with Green Loan Principles and is being issued under a Green Finance Framework. This voluntary standard sets out how Hammersmith & Fulham Council intends to manage its green local authority securities in the future and outlines how they will meet the Green Loan Principles. This assures investors that funds raised can only be used to help them deliver on eligible green projects from within this framework. Abundance will monitor the use of funds across the investment term to ensure the principles are being adhered to.
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