Scheme allows residents to invest in climate action

Bristol residents will be able to invest directly in schemes designed to tackle climate change

A new green scheme will allow residents to directly invest in a city's carbon neutral schemes.

Bristol City Council has launched the Bristol Climate Action Investment (BCAI) scheme alongside ethical investment platform Abundance Investment.

It aims to raise up to £1m in its initial phase, with further rounds over the next 18 months expected to bring the total to £2m.

The money will be used to install energy-saving measures in the city, including heat pumps, solar panels, and LED lighting on council-owned buildings.

The first beneficiaries from the fund will include Belbrook Children's Respite Unit, Ridingleaze Social Services Office in Lawrence Weston, and the Symes Avenue Social Services building in Hartcliffe.

Green councillor Martin Fodor said the investment scheme would benefit the city's "buildings, streets and projects"

The BCAI is designed to be accessible to everyone, with investments starting at £5 and no fixed upper limit.

Investors will receive a fixed return of 4.2% over a five-year term, with payments every six months.

The investment can also be held in an Innovative Finance ISA, meaning returns can be tax-free.

Councillor Martin Fodor, chair of the environment and sustainability committee, said he "really hopes" people see its potential.

"The fund is there to help make practical climate projects happen in the city that will save and switch to clean energy, making services run cleaner and more efficiently, and these will all pay back," he said.

The green initiative is the first of its kind in the city

Karl Harder, co-founder and director of Abundance Investment, said the scheme was a "great opportunity" to demonstrate "local action can drive meaningful change".

Bristol City Council has already made significant progress in reducing its emissions, managing to half its carbon footprint since 2015.

The BCAI is expected to accelerate that progress by funding more local projects, with potential future initiatives including additional solar panel installations and street lighting upgrades.