Creating Social and Environmental Responsibility Funds
Creating locally-based social and environmental funds to boost Culatra’s capacity to participate in the ‘Energy Transition Agenda’ and in the sustainability process.
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ISLANDS
Culatra, Portugal
THEMATICS
PARTNERS
Institutional:
Culatra2030 team, including Associação de Moradores da Ilha da Culatra (AMIC), University of Algarve, Make it Better association, Comissão de Coordenação e Desenvolvimento Regional do Algarve (CCDR)
OBJECTIVES
Setting up locally-based funds that can be socially responsible mechanisms for responding to the problems of the community facing complex environmental or social challenges such as:
- Difficulty in finding funding support for relevant community actions.
- Access to higher education or VET education for young people with less resources.
- Reinforcement of the public infrastructures in the community.
- Need for improving housing energy efficiency.
- Lack of support for community innovation ideas (social, cultural, environmental).
ACTIVITIES
HOW?
Community-based financial ‘services’ focused on supporting local economies, energy transition and environmental safeguarding. A determined percentage of the sale of some services and products on the island are given to the Fund.
Fund revenues:
- Sales of services or products to be developed or administered by the fund (fund financial services, events, anchorage, solidarity stores, merchandising, and others).
- Voluntary contributions applied to the use, consumption and/or depreciation of resources and materials produced on the island.
- The income from own property, administered by the fund, granted or transferred for exploitation.
- Donations from individual persons and public/private entities.
- Financial contributions from external entities (public/private).
- Results of strategic partnerships with public funding entities.
Fund applications:
- Solidarity loan, in accordance with the Solidarity Loan Program Regulations.
- The participation or co-financing of community infrastructure for public use.
- The participation or co-financing of relevant thematic events.
- Awards to initiatives promoting social, cultural and environmental values.
- Support for interventions to improve the energy efficiency of housing and others.
- The participation or co-financing of training and capacity building actions.
- The issuance, distribution and management of a local ‘currency’ or ‘social value’, for restricted use in closed circuit (circular economy in the island).
LINKS
For more information, please download:
Culatra 2030 Initiative