Eligible social projects
For our municipal investments to align with the Social Loan Principles, the money borrowed by the council must be used to finance projects with a real social benefit.
Eligible Social Project categories
The social project categories we use are derived from the categories laid out in the ICMA Social Bond Principles. Under our Green & Social Finance Framework, each project financed by one of our municipal investments must meet the definition of one of the categories.
The council provides a breakdown for each investment on what the money was used for, and Abundance monitors and verifies that the money has gone towards projects that meet the criteria.
Schools & Children's Services
Investments can be used for capital investment - such as building renovation, equipment and facilities for the sites - but not for day to day expenses such as running costs.
Adult Social Care
Investments can be used for capital investment - such as building renovation, equipment and facilities for the sites - but not for day to day expenses such as running costs.
Public Realm
This includes development of public spaces including parks as well as enhancing footpaths and roads.
Regeneration
Schemes to regenerate areas or communities designed to boost economic activity, provide jobs and enhance community wellbeing.
Housing
Development of social housing where works cannot be classified as green. In the event that a housing development is designed to meet particular green standards, it can be accredited as an Eligible Green Project instead.
Corporate Services
These projects might include improvements to councils' internal systems, or anything that is designed to increase efficiency and therefore free up money to fund front line services.