Residents are being invited to lend Bracknell Forest Council money via a new Local Climate Bond, letting people invest from as little as £5 in projects to cut carbon from council-owned buildings.
Up to £300,000 will be raised from residents and other investors, with the cash earmarked for schemes at Time Square and The Alders. Unlike a donation, the money will be repaid by the council with interest.
The scheme was unanimously approved by Bracknell Forest Council's cabinet on Tuesday, November 3 and is expected to launch in December.
Councillor Paul Bidwell said the investment offered an attractive interest rate and was effectively no risk of default because repayment is the council's responsibility rather than depending on the success of individual projects. He said an investment of £1,000 would return around £250 in interest over the life of the investment, which runs until 2032. Councillor Mark Forster said it was "exciting" and he hoped it would be the first of many such schemes supporting the council's work to tackle climate change.
Katie French, Local Democracy Reporter
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