West Berkshire Council has launched a green bond that will see residents invest in the region's renewable energy sector, in what it claims is a UK first.
Developed by Abundance, the aim of the bond is to raise £1m to finance the installation of solar panels on five council-owned buildings: two offices, two schools and a building at the former RAF station at Greenham Common.
Residents will be encouraged to invest in the bond with a minimum of £5. They will be urged to play their part in helping the council – and the UK more broadly – to build back better after the pandemic, creating local jobs in sectors spurring the low-carbon transition.
For the council, the benefit lies in the avoidance of costs related to conventional borrowing. Moreover, the local authority is striving to meet net-zero within its own operations by 2030 – 20 years ahead of the national deadline.
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