A unique way to invest with West Berkshire Council in a greener future

Conservative Councillor for Bradfield and West Berkshire's Executive Member for Finance and Economic Development Ross Mackinnon was delighted to share the news of the launch of the UK's first Community Municipal Investment (or 'Climate Bond' if you prefer!) next week.

"You can invest as little as £5, earn a financial return on a low risk investment, and take a direct stake in funding West Berkshire's journey to Carbon Neutral by 2030!"

West Berkshire Council will be launching the UK's first Community Municipal Investment on 16 July 2020, offering their residents and community groups a unique way to invest directly in a greener future for the district. The move, which was supported by all political parties in West Berkshire, supports West Berkshire's declaration of a Climate Emergency and is a key part of the Council's new Environment Strategy.

A Community Municipal Investment (CMI) is a bond or loan mechanism issued by a Council directly to the public. It will be provided in partnership with the online crowdfunding platform Abundance Investment, which is regulated by the Financial Conduct Authority. CMIs can be used to supplement, diversify or replace sources of borrowing to fund specific infrastructure projects, or to refinance existing debt. West Berkshire will use its CMI to finance green projects in the district, such as installation of solar panels at a building on Greenham Common and five other buildings, including two local schools.

Cllr Ross Mackinnon 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."

Sign up to receive email updates on the Community Municipal Investment. https://www.abundanceinvestment.com/west-berkshire