Southwark Council has raised £3.5 million for green projects through its Southwark Green Investment (SGI) scheme, reaching the milestone during its fourth round of fundraising, writes Pablo Munoz…
This latest round achieved £1 million, with over £115,000 coming from local residents and businesses, bringing the total amount raised since 2024 to the halfway point of its £6 million target for 2030.
The new £1 million will support energy projects tackling fuel poverty, the creation of wild areas, and the transition of major council buildings away from gas, including installing low-carbon heat pumps in the largest council office at 160 Tooley Street by London Bridge.
The SGI scheme started in 2024, and it allows residents and businesses to invest in council climate projects, lending money from as little as £5 with a 4.1 per cent annual return over five years.
Examples of projects delivered with SGI finance are Moreton Gate Nature Garden, a paved space transformed into a green haven, or Westminster House Youth Club, a educational and recreational centre for children in poverty where localised infrared heaters, LED lighting, and ceiling panel heaters have been installed.
The first three phases of the scheme raised £2.5 million, which has been used to fund cycle hangars, LED street lighting, green upgrades to local schools and leisure centres, a new nature garden and two new Library of Things sites, a social enterprise that offers the rental of household items.
The funding process is managed by Abundance Investment, a platform specialising in ethical and sustainable investments.
