To consider requests for funding from the Green Initiatives Fund.
The Committee considered two requests for funding from the Green Initiatives Fund.
The Chief Accountant presented his request for funding for a review of the Council’s investment portfolio in terms of Environmental, Social and Governance Credentials. The Investment portfolio would be scrutinized and recommendations would be made to help the Council invest ethically. Since submission of the bid, Arlingclose had altered their fee estimate to carry out the review to £11,500 plus VAT and the Chief Accountant confirmed this would be the amount requested. The Chief Accountant confirmed there were no resources in-house to undertake this exercise.
The Committee noted that depending on the outcome of the review, any recommendations would be acted on over a phased period of time to manage yields and help produce a balanced budget for the Council. The Chief Accountant advised that the Chartered Institute of Public Finance and Accountancy were asking all local authorities to consider their investments in light of Environmental Social and Governance information, and this would become standard practice.
The Committee resolved to agree the request for funding for a review of the Council’s investment portfolio in terms of Environmental, Social and Governance credentials of £11,500 plus VAT.
The Group Head Commissioning and Transformation presented a bid from Cocoon Kids relating to the purchase of a cargo e-trike.
The Committee suggested that the cargo section of the e-trike be used to promote climate issues or the Council’s involvement in climate issues, and the Group Head agreed this could be raised with them.
The Committee noted that the bid would complement funding from another source and Cocoon Kids had been runners up for two categories in the Spelthorne Business Awards 2022.
The Committee resolved to agree the request for funding by Cocoon Kids of an EAV cargo e-trike of £5,876.