Electric vehicles, better environments for schools, and green energy: how funds raised in Islington Greener Futures 2027 will be spent

Abundance
Abundance Blog
Published in
4 min readNov 10, 2021

--

Islington Council’s Greener Futures 2027 investment will support a range of projects across the borough, which are all trying to create a cleaner, greener and healthier future for residents. All the projects that the council is supporting with the money it raises are taken from its Vision 2030 plans, which aims to create a net zero carbon future in the borough by 2030. But what exactly are these projects, and what benefits will they have for residents and the broader push to create a greener future?

Cutting emissions by electrifying the council’s vehicle fleet

Since 2020 Islington Council has been running a trailblazing project to electrify its entire vehicle fleet, to reduce harmful air pollution, save money for essential services as well as meeting its targets around reduced emissions. Around 11% of its vehicle fleet is already electric and in early 2020 it announced new smart EV charging facilities to support its EV.

The latest addition to the council’s fleet is its very first ‘upcycled’ Dennis Eagle bin lorry. It originally ran on diesel fuel and was nearing the end of its working life. However, it has now been refurbished and retrofitted with an electric engine.

From left to right: Cllr Kaya Comer-Schwartz and Cllr Rowena Champion

This has delivered several environmental benefits in one hit as it will no longer produce exhaust emissions; it will run more efficiently than when it was brand new; and will now last an additional seven years.

It is believed to be the world’s first ‘twin-pack’ refuse collection vehicle — which collects two streams of waste at once — to be fully retrofitted and refurbished.

The funds raised in this investment will help fund further electric waste vehicles to complete the electrification of the council’s waste and recycling operations.

Improving the environment for schools

Some of the funds raised will go towards the ongoing rollout of ‘School Streets’ — Islington’s programme to improve the local environment around schools.

School Streets aim to reduce traffic outside schools at drop-off and pick-up times, and help to create quieter, safer environments for children by reducing road danger and improving air quality at the school gates. In addition, they encourage young people and parents to stay physically active and healthy as they travel to and from school.

To date 37 schools around the borough have received School Streets pilots. It is planned that School Streets will be delivered (where feasible) at all primary schools not on main roads by 2022.

You can learn more about the School Streets programme here.

Supporting the growth in electric vehicles with public charging points

As part of the council’s commitment to improve air quality and reduce vehicle emissions, it is working with a number of network operators to provide charging points.

A lot of Islington residents lack off-street parking and so are unable to charge an electric vehicle at home. The council wants to support people to use EVs by installing 400 charging points by the end of March 2022. More than 250 of these charging points are already in place, and the funds raised in this investment will help it to reach this target.

Greening council buildings with LED lighting and solar PV

The council’s direct emissions — from its vehicles, streetlighting and housing — account for just 9% of the borough’s carbon impact but it is still committed to reducing those as much as possible.

For example, it is working up plans to replace gas boilers in 57 of its municipal buildings heated by gas, as well as actively investigating other energy efficiency measures such as insulation, glazing, heating controls and lighting upgrades, passive cooling measures, and installing solar panels. Funds raised in this offer will be used to deliver the plans to cut the carbon impact of the council’s own buildings.

Improving waste facilities to encourage recycling

The council is aiming to make it easier for estate residents to recycle. So it will be using money from the fund to improve communal recycling points on estates with new, improved recycling bins, new bin stores and enclosures, extra signage and more accessible bins where these are needed.

RISK WARNING

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).

--

--

Investments that build a better world. Your capital may be at risk and estimated returns are variable.