LocalGov.co.uk – Your authority on UK local government – London council launches green

Hammersmith and Fulham London Borough Council is inviting residents and businesses to invest in green projects across the borough.

The council said it is the UK’s biggest community green investment scheme issued by a local authority. It aims to raise £5m through the scheme.

On the first day, the scheme saw 130 investors raise almost £77,000.

The London borough intends for the first phase to raise up to £1m for green parks and open spaces, improving and expanding sustainable drainage networks, and installing new bike hangars and mobility hubs.

Hammersmith and Fulham LBC said it is a low-risk investment offer and people can invest a minimum of £5, with a fixed return of 4.85% interest a year. Regular returns of interest and capital are to be paid every six months.

Cabinet member for finance and reform Rowan Ree said: ‘Investors know that their money is being invested in projects that will make a positive impact on our communities and people’s lives.

‘It also means that the council can deliver climate and ecological projects cost-effectively, which will help save taxpayer money. It’s a rare win-win.’