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Earlier this year we ran our first ever prize draw, which gave all investors the chance to win thirteen prizes of up to £5,000 each time they invested with us. And 13 was certainly a lucky number for our winners, who were picked at random in the draw earlier this month.
We got in touch with them to find out a little bit more about what they liked about investing with us and (more importantly) what they planned to do with their prize money.
Out with oil and in with a heat pump
Our top prize winner of £5,000 was delighted to receive the prize money and plans to use the money to help refurbish his heating system by replacing an old oil system with a heat pump (a carbon saving change that we certainly approve of!).
Like the majority of our investors, he really appreciates how Abundance lets him choose directly where his money goes and what impact it makes. One of his favourite investments is Liverpool Community Homes, because he believes that providing affordable homes to people is a key part of creating a fairer society for us all.
If you could encourage everyone to do one single thing to tackle the climate crisis, what would it be?
I would say “tell other people what you are doing”, without being strident or combative, letting other people know that changing for good is OK. (Obviously, it has the most effect if you tell the sceptical, but even the already-convinced benefit from support.)
A meal with the family, and more investments on Abundance
We also had a chance to speak to one of our £2,500 winners, who said that with the winning money he is most likely to take out his family for a nice dinner and re-invest the rest. He likes Abundance because he likes the mission of using money for good and he finds the platform easy to use.
His favourite investment is ILI Pump Storage Hydro which we are also excited for as it can and is transforming the renewable energy sector!
To encourage others to do one thing about climate change he suggested learning a thing or two about how we can do better for the future and not invest in oil and gas companies that promise the net zero future without any tangible actions.
What changes would he make to build a greener future for the UK if you were Prime Minister for a day?
I’d double the capital subsidy for heat pumps, extend the home energy efficiency grant to all non higher rate taxpayers, plus anything else that would get us off gas and reduce bills pronto.
Make climate democracy work
We also caught up with one of £500 winners, and his response when we asked him what would be the one thing he would do to encourage others to fight climate change really struck a chord:
“Make democracy work for the climate by writing to your MP and making the climate the number one issue at every election.”
Democratic finance has always been at the heart of what we do, and over the years thousands of investors have used their money to vote for the kind of future they want to see (be that through investing in innovative companies, or backing the councils that are delivering green changes on the ground in communities up and down the country.
If he were Prime Minister for a day, he wouldn’t waste a moment!
Mobilise society to act as if our lives depend on it. So, publicity campaign to promote the advantages of early action, reduce speed limits, stop new oil and gas exploration, launch a domestic insulation retrofit scheme, properly subsidise heat pumps (like the Italians have done), stop investment in overseas fossil fuel projects, stop subsidising fossil fuel companies.
Congratulations to our prize winners and a big thanks to over 2,550 customers who have invested with us so far this year. Your support makes it possible for us to fund the genuinely groundbreaking projects that will help us achieve Net Zero. You can browse our current open investments here.
As with any investment, there are risks when investing on Abundance. Your invested capital is at risk and any return on your investment depends on the ability of the company or council you have invested in to pay your returns. Investments on Abundance are generally long term and you should be prepared to hold them to maturity. The investments are illiquid and you may not be able to sell them if you need your money back earlier, and their value can rise or fall. Some investments may be secured, but this does not guarantee repayment or your return.
Quoted returns are no guarantee of future returns and past performance is not a guide to future performance. Specific risks will apply in relation to each investment. Please consider all risks before investing and read the Offer Document or Factsheet for each investment. The investments on Abundance include debentures or bonds and peer to peer loans — Abundance’s service in relation to loans is not covered by the Financial Services Compensation Scheme (FSCS).
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