Islington Greener Futures, London’s first Community Municipal Investment, has reached its £1m target, which will go towards the borough’s net zero carbon by 2030 goals.
The fund was set up to give people the opportunity to invest as little as £5 to support local, environmentally-friendly initiatives.
Since its launch in October 2021, a total of 661 people have invested in Islington Greener Futures, with a total of £207,150 of the £1m target coming from 54 local investors.
The funding will go towards projects working to improve air quality, such as the School Streets programme. It will also be invested in zero carbon recycling and waste collection, as well as EV charging points.
Furthermore, the money will be put towards the installation of LED lighting and solar panels on public buildings to reduce carbon and the cost of electricity .
Cllr Rowena Champion, Islington Council’s executive member for environment and transport, said: “Tackling the climate emergency and creating a cleaner, greener, healthier borough is a leading priority for the council, but it’s always been clear that we can only achieve that with the support of local people.
“By helping Islington Greener Futures reach its £1 million target, local people have played their part in tackling the climate emergency and have taken a real stake in the future of our borough. We know how challenging a time this is for people across Islington and the nation, so we really do appreciate each and every person that has invested in our vision for a cleaner, greener, healthier Islington.
“We now look forward to using this £1m to fund a range of exciting initiatives that will make a real, tangible difference to people across our borough as we continue to create a more environmentally-friendly Islington for all.”
Islington Greener Futures is managed by ethical investment crowdfunding firm Abundance Investment, which is authorised and regulated by the Financial Conduct Authority.
