Cash-strapped London council starts crowdfunding drive to pay for green upgrades

Southwark asks residents to invest as little as 5 to help fund eco-projects such as cycle hangars and school upgrades

Deep cuts to government funding have led a council in south London to ask its residents to invest their own money, for a financial return, to build cycle hangars, LED street lighting and green upgrades at schools and leisure centres.

Amid a financial crisis hitting town halls across England, councillors in Southwark have resorted to a crowdfunding scheme to raise 6m over the next six years to help fund climate-friendly projects.