Residents and businesses invited to invest in local solar projects

Residents and businesses in Hackney are being invited to invest in local solar projects on schools and council homes while getting a low-risk, fixed interest return. 

Hackney’s green investment, which launched this week, will aim to raise £5 million over the next four years to help fund local projects that will help create a greener, healthier borough. 

People can invest from £5, with the investment offering a fixed rate of return of 4.5% interest a year over a five-year term. 

The Council aims to raise £500,000 in the first six months, which will fund solar panels on council homes and at a number of local schools.

The investment process is being managed by Abundance Investment, a leading platform facilitating ethical and sustainable investments, on behalf of Hackney Council. It uses the same approach as a recent programme by neighbouring Islington Council. 

Returns on investments will be paid every six months into investors' Abundance accounts, offering flexibility to withdraw or reinvest funds as desired.

To invest in Hackney’s green investment programme, residents and businesses should visit: https://www.abundanceinvestment.com/council/hackney 

Notes to Editors:

Capital at risk. Investments are long term and may not be readily realisable. This content has been approved as a financial promotion by Abundance who are authorised and regulated by the Financial Conduct Authority (525432). Approval date: 29/05/24

Holding investments in an IFISA does not reduce the risk of the investment or protect you from losses. You can still lose all your money. It only means that any potential gains from your investment will be tax free. The tax treatment of your investment will depend on your individual circumstances and may change in the future.

Hackney Green Investment, which is a loan, is Green Loan Principles compliant and is being issued under a Green Finance Framework. This is a voluntary standard which sets out how Hackney Council intends to manage its green local authority securities in the future, and outlines how they will meet the Green Loan Principles. This assures investors that funds raised can only be used to help them deliver on eligible green projects from within this framework, and Abundance will monitor the use of funds across the investment term to ensure the principles are being adhered to.

We’re delighted to announce the launch of the Hackney green investment, which is an opportunity for Hackney residents to invest in projects that support our journey to net zero while earning a secure rate of interest.

The money local people invest will help broaden our climate programme beyond what we would be able to do within the financial constraints councils are operating in.

Cllr Robert Chapman, Cabinet member for Finance, Insourcing and Customer Services

We’re one of London’s leading councils on climate action because we know it will create a greener, healthier borough.

This opportunity for residents and businesses will help further boost our plans, while allowing them to earn a fixed interest return. The first round of funding will help put solar panels on council homes and local schools, cutting bills for local people and making sure they’re part of our journey to net zero.

Cllr Mete Coban MBE, Cabinet Member for Climate Change, Environment and Transport