Laura Sharman 16 July 2020

Council launches UK’s first local government green bond

The UK’s first local government green bond has been launched by West Berkshire Council.

The council aims to raise £1m from its citizens to fund solar panel installations on five council-owned buildings.

The bond uses Community Municipal Investment (CMI) developed by Abundance, which allows councils to offer a regulated investment directly to their residents for the first time.

Ross Mackinnon, the council’s executive member for finance and economic development, said: ‘We are very excited to be the first council to offer CMIs to our residents and community groups. They are a ground-breaking way to put residents’ money to work to help us build back greener after the pandemic.

’Communities investing directly with us will provide us with a cheaper alternative to conventional sources of funds reducing the overall cost of borrowing to all taxpayers across the district as well as making a positive contribution toward our target to be carbon neutral by 2030.’

Analysis by Abundance shows that CMIs have the potential to unlock £3bn for councils to finance net zero strategies.

SIGN UP
For your free daily news bulletin
Highways jobs

Head of Democratic Services, Elections & Monitoring Officer

Harborough District Council
Grade 12 £67,236 – £71,223 plus £3000pa Statutory Officer Allowance
We are looking for an accomplished and proactive leader for our vacant post of Head of Democratic Services & Elections Market Harborough, Leicestershire
Recuriter: Harborough District Council

Social Worker - Family Support and Safeguarding - Bicester Banbury

Oxfordshire County Council
£37035 - £47754
You will manage a caseload tailored to your experience, ensuring that children’s and their families’ voices are heard, and their needs are met. You will work with families using the FSP Workbook modules, and a strengths-based approach, ensuring the As Bicester
Recuriter: Oxfordshire County Council

Executive Director of Resources & Governance (S151 Officer)

Basildon Borough Council
Up to £146,245
Together, we lead. Together, we deliver. Together, we transform. Basildon, Essex
Recuriter: Basildon Borough Council

Executive Director of Homes, Communities & Environment

Basildon Borough Council
Up to £146,245
Together, we lead. Together, we deliver. Together, we transform. Basildon, Essex
Recuriter: Basildon Borough Council

Executive Director of Strategy, People & Transformation

Basildon Borough Council
Up to £146,245
Together, we lead. Together, we deliver. Together, we transform. Basildon, Essex
Recuriter: Basildon Borough Council
Linkedin Banner