Homesocial lendingUse of funds update from Telford & Wrekin Council

Use of funds update from Telford & Wrekin Council

[ad_1]

The cost of living crisis is affecting so many of us. Rapidly increasing energy prices are a huge concern for the most vulnerable in our community, particularly those who are rebuilding their lives having been homeless.

We currently house a number of formerly homeless people in council-owned accommodation. We plan to use £170,000 of the money raised through our first Climate Action Investment to fund energy efficiency work to these properties. This will not only deliver a direct carbon saving, it will also ease the financial pressure on these residents, providing them with affordable warmth.

We are also using money raised through the Investment to buy two electric vehicle minibuses for our Outdoor Education team, replacing existing fossil fuel-powered vehicles. These buses will be used to transport school children to our outdoor education centre in Wales. The Arthog centre — where children engage with their environment, supporting their wellbeing and developing their love of nature — has recently celebrated its 60th anniversary and holds a significant place in the hearts of thousands of Telford and Wrekin’s children and adults who have spent time there during their school years. Watch our short film about Arthog’s impact below.

We’re delighted that the electric minibuses funded by through this Investment scheme will mean that children visiting the centre won’t just be learning about sustainability — they’ll be living it.

Lastly we plan to use money raised through the Investment to launch a second round of our hugely popular Climate Change Fund, providing grants to local organisations to help them reduce their carbon footprint. This enables us to extend our carbon reduction aspirations beyond the council’s own operations, to actions that reduce emissions borough wide. The first round (delivered in 2021) proved highly successful, with dozens of community groups and small businesses using their grants to deliver impactful sustainability projects. Energy efficiency works were most popular, with completed actions projected to save tonnes of carbon per year. Admaston House Community Centre is one great example, saving 2.3 tonnes CO2 per year — listen to this BBC radio interview to find out more. Or take a look at the video below, with All Saints Church in Wellington, which is expects to save 2.4 tonnes CO2 per year thanks to support from our Climate Change Fund.

When you put your money into the Telford & Wrekin Climate Action Investment, you will be enabling more of this valuable work. This investment is open on Abundance until 19 August, find out more 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).

[ad_2]

RELATED ARTICLES

Most Popular

Recent Comments