Ethical and social investment growing in Yorkshire

A new sustainable energy project has attracted enough social investment to undergo the next phase, suggesting investors are interested in community environmental issues.

Esk Valley Community Energy Group has joined forces with the Co-operative to launch a community share scheme in order to create a hydro-electric turbine in the local river near Whitby, Yorkshire.

The project has attracted enough social investment, in the form of loans and grants, to make the directors approve the next phase.

When the fish-friendly turbine has been established (end of 2012), it will generate around 200,000kwh of sustainable energy.

Colin Mather, retired civil engineer and chair of the energy group, said: "One of our sayings is 'think global, act local!' and our scheme offers people a chance to do their bit to protect the environment while generating a new source of sustainable green energy.

"We are delighted with the response to the share issue and, although we know that there is still a lot of hard work ahead, it illustrates that by working together, co-operating, amazing things can be achieved."

A recent report by YouGov found that 42 per cent of Brits with private wealth want to get involved with ethical and social investment.
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