London,
08
March
2022
|
09:47
Europe/London

Council launches Camden Climate Investment to help tackle climate emergency

Camden Council has approved, following agreement at full council on 7 March, the launch of the Camden Climate Investment, an innovative Community Municipal Investment (CMI), allowing residents to invest in a cleaner, greener future for the borough.

Councillor Georgia Gould, Leader of Camden Council said:

“With each day that passes the need for a decisive and collective international response to the climate and ecological emergency becomes increasingly and perilously overdue.

“Here in Camden, we've cut CO2 emissions by 43%, however, our hard work must continue with urgency if we want to protect our planet and our future generations.

“This first Camden Climate Investment is looking to raise £1 million to fund a range of projects across the borough, which have been selected based on feedback from the 2019 Citizens’ Assembly.”

Residents can invest from £5 in what aims to be the council’s first £1m fund dedicated to climate emergency action.

The money will fund a range of real, local projects which will help reduce our climate impact in Camden, including:

  • Installing 80 further electric vehicle charging points to encourage residents to switch to electric vehicles.
  • Continuing the rollout of the council’s healthy school streets initiative, which aims to improve air quality and improve the local environment around schools.
  • Contributing to the budget to replace Camden’s fleet of diesel and petrol vehicles with green alternatives.
  • Installing solar panels on public buildings to reduce carbon emissions and the cost of electricity.

The CMI, which is in partnership with ethical crowdfunding platform Abundance Investment, is also eligible to be held tax free in an Innovative Finance ISA. Local people investing will receive interest from the council every six months, and their original investment back after five years.

The launch of the Camden Climate Investment complements the council’s ambitious five-year Climate Action Plan, a programme of projects and activities that brings to life a vision of a zero carbon borough.

Councillor Adam Harrison, Cabinet member for a sustainable Camden said:

“The climate emergency is the most serious threat to our planet and we as a community must do everything in our power to tackle this growing threat.

“Camden is a leading local authority on the climate agenda - we have committed to do all that we can to make Camden a zero-carbon borough by 2030, however, we must all go much further and quicker if we want to make a real difference, and we can only do that through a joined-up approach with communities and organisations across Camden.

“Investing in the Camden Climate Investment will fund a range of real, local projects which will help reduce our climate impact in Camden, including ensuring that more of the council’s vehicle fleet runs on zero carbon fuels and the installation of solar panels on Camden estate roofs.”

Councillor Richard Olszewski, Cabinet Member for Finance and Transformation said:

“As well as helping us tackle the climate crisis, the Camden Climate Investment is also a good deal.

“It offers you the chance to earn returns that are higher than traditional savings accounts, while also contributing directly to tacking the climate emergency in our neighbourhoods.

“This municipal investment offers 1.75% fixed interest per year, before tax. Interest is paid 6 monthly, and the capital is repaid after five years. It is also eligible to be held in an Innovative Finance ISA, which means you can earn tax free returns on this investment.”

Karl Harder, Cofounder and Joint Managing Director of Abundance Investment said:

“Your money is one of the most powerful tools you have to make the change we need to accelerate the decarbonisation of our local communities and economies. The Camden Climate Investment gives residents and green investors the chance to put their money to work directly to build a greener, more sustainable borough.” 

Residents are also invited to register their interest in the CMI by heading to www.camden.gov.uk/climateinvestment The CMI will be arranged by Abundance Investment, which is authorised and regulated by the Financial Conduct Authority. 

Camden Climate Investment will be open for investors to subscribe until Thursday 9 June 2022.

 

About Abundance Investment  
Abundance is a leading direct investment platform that is putting people in control of their money. People invest in individual projects that generate something good for the environment and society as well as bank-beating returns. 

 
The investor chooses which project or business to invest in from just £5 and benefits from a financial return, while the world benefits from the growth of sustainable businesses. 
 
Since launching in 2012, more than 7,500 people have invested over £123m directly into the projects they support via the Abundance platform, with over £38m returned to investors. In the process, Abundance has achieved a number of firsts. As well as being the world’s first FCA-regulated investment based crowdfunding company, it is also the first investment platform to offer a dedicated investment based crowdfunding SIPP and launched the UK’s first Innovative Finance ISA for renewable energy investments on November 1st 2016. 
 
In 2020, Abundance launched the first Community Municipal Investments after working with the University of Leeds to develop new ways to allow local people to actively participate in the transition to Net Zero. These investments let people invest directly into councils, allowing them fund the real local green projects that we need to make a big impact on the climate emergency. Abundance’s new municipal investments, launched after September 2021, are structured as peer to peer loans and are eligible to be held in an Innovative Finance ISA. Abundance’s first two municipal investments, launched in 2020 with West Berkshire and Warrington Councils, were not ISA eligible. 
 
Abundance also became a certified B Corp in 2018; these are businesses that meet the highest standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose. 
 
Abundance and Abundance Investment are trading names of Abundance Investment Ltd which is authorised and regulated by the Financial Conduct Authority (no. 525432). 
 
Visit www.abundanceinvestment.com  
 
Follow @AbundanceInv 
 

Risk Warning:

As with any investment, there are risks when investing on Abundance. Your invested capital is at risk and any return on your investment depends on the ability of the local authority you have invested in to pay your returns. Investments on Abundance are generally long term and you should be prepared to hold them to maturity. The investments are illiquid and you may not be able to sell them if you need your money back earlier, and their value can rise or fall. Quoted returns are no guarantee of future returns and past performance is not a guide to future performance. Specific risks will apply in relation to each investment. Please consider all risks before investing and read the Offer Document or Factsheet for each investment. The investments on Abundance include debentures or bonds (from companies) and peer-to-peer loans (from councils) - Abundance’s service in relation to peer-to-peer loans is not covered by the Financial Services Compensation Scheme (FSCS).