17 May Community investment in Southwark’s green schemes oversubscribed!

Southwark Council has successfully raised £1 million in its community investment scheme, highlighted here in February with 400 would-be investors too late to lend! The aim of the scheme is to help decarbonise schools, leisure centres and street lights, as well as delivering a range of other green projects. 659 investors backed the scheme, including 111 local residents and businesses. Over 30% of the funding came from local residents, a record for a community investment scheme. The funds will be spent on cycle hangars, LED street lighting, and environmental upgrades at local schools and leisure centres. These projects align with the council’s ambition to become net zero. London Bridge and West Bermondsey Councillor Emily Hickson, who is also Deputy Cabinet Member for Green Finance, said “we’ve had to get creative in how we fund green projects. It’s reassuring to have our residents and the wider public show their support for green projects, that not only mitigate the impacts of climate change but also creating healthier and more vibrant communities for generations to come”. There will be future community investment opportunities as the Council seeks to raise £6m for green projects by 2030.