West Berkshire Council's Climate Change Bond with Abundance Investment paying off

ONE in six people who invested in West Berkshire’s ground-breaking Climate Change Bond have donated their interest back to the scheme.

The council launched the country’s first Community Municipal Investment last July, offering residents and community groups a unique way to invest directly in a greener future for the district.

It supports West Berkshire Council’s declaration of a Climate Emergency and is a key part of its new Environment Strategy.

More than a hundred people who invested in the scheme chose to donate their returns back to the council so it can be used on more green projects, rather than take the money.

The additional funds from the donation of interest are being used to support BBOWT’s project to introduce wildflower verges on roads across the district.

The money will go towards providing communities with wildflower guides so they can be more engaged in monitoring the verges in their local area, boosting local knowledge which can then be used to inform future projects.

West Berkshire’s executive member for finance and economic development, Ross Mackinnon, said: “We always believed that the Bond would prove popular, as we know people want to help make West Berkshire greener.

“What we didn’t expect was for so many people to reinvest their returns with us.

“This is allowing us to do some additional work on the Wildflower Verge project that we are running with our partners, the Berkshire, Buckinghamshire and Oxfordshire Wildlife Trust (BBOWT).

“We’ve recently consulted on our Environment Delivery Plan. Key projects include a number of exciting renewable energy projects such as installing solar panels at an additional ten sites and a new 75 acre solar farm at Grazeley.

“We’re also continuing our £2 million plan for cycle infrastructure projects and significant investment in natural carbon sequestration.

“Residents can sign up to our Environment Newsletter to keep up to date with up to date with progress on our Environment Strategy as we build these new projects.”