Islington Greener Futures, London’s first Community Municipal Investment (CMI), was set up to give people the opportunity to invest as little as £5 to support local, environmentally-friendly initiatives.
As well as investors nationwide contributing to the £1million pot, 54 local people added a total of £207,150, helping to support a range of pioneering projects that will help create a greener and more equal Islington for all.
Islington Greener Futures is managed by ethical investment crowdfunding firm Abundance Investment, which is authorised and regulated by the Financial Conduct Authority. It is the first CMI to be eligible for the Innovative Finance ISA, which means that people were able to invest between £5 and £20,000 and receive a fixed return of 1.55% per year tax-free, with interest paid every six months and the original capital repaid after five years.
This CMI is now closed to further investment since we hit our £1 million target but if you are interested in keeping up to date, visit Abundance Investment.