With the prices of energy, water, and other utilities set to rise this month, new research from Social Investment Business (SIB) reveals that youth charities across the UK are spending up to 50% of their budgets just to cover energy and water bills, putting vital community services at risk. ⚡ To help charities and social enterprises tackle the challenges that high energy costs pose, we partnered with Key Fund Investments to develop the Energy Resilience Fund (ERF) pilot. It explored how social investment can support organisations in reducing energy costs by financing the installation of energy-efficient or environmentally friendly infrastructure. We launched the second phase of the fund last year, delivered through a partnership of social investors led by Social Investment Business, with investment from ourselves, Social Investment Business Foundation, and Access - The Foundation for Social Investment. 🌱 The ERF aims to help purpose-led enterprises strengthen their energy resilience by providing financial and technical support to implement energy-saving measures or renewable energy generation technology. These measures can result in reduced carbon emissions, lower energy costs, and improved energy efficiency ratings to meet regulatory requirements. 🔗 Visit our website to learn more: https://lnkd.in/ep7tB6s5
🚨NEW research reveals youth centres at risk as bills continue to rise Youth charities across the UK are facing crushing energy bills that can make up as much as 50% of their budgets. This is happening in buildings that are already struggling with poor energy efficiency, putting vital youth services at risk. Our new report highlights how these rising costs are threatening the services that improve young people’s mental health, physical wellbeing, and help reduce crime. Key findings include: • Youth charities are spending up to 50% of their budgets on utilities. • Over half of community buildings fall below basic energy efficiency standards. • Investment through programs like the #YouthInvestmentFund have helped transform youth centres and reduce costs – but more is needed. We’re calling on the government to: • Safeguard the youth sector • Reduce energy costs • Help accelerate the transition to green power. 🌍 With the right support, the community sector has the potential to play a key role in the transition to clean energy. Check out the full report here https://buff.ly/voGBkv4
