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.

Culatra 2022 RE (31)
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ISLANDS

Culatra, Portugal

THEMATICS

Energy

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 

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:

Creating-social-and-environmental-responsibility-funds.pdf

Culatra 2030 Initiative

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