The Green Deal Finance Company (GDFC) has launched a new bond offer, with the aim of raising £5 million.

The sustainable finance group says money generated from its new bond will be used to accelerate the roll out of new initiatives at the company and further reduce carbon emissions.

The green bond will be managed through the Abundance Investment finance platform, an ethical, peer-to-peer initiative.

The platform has successfully raised more than £40 million for 25 different projects since it began in 2012 and launched the UK’s first green energy Innovative Finance ISA last year.

It aims to fund green economy projects, such as renewable energy generation, whilst giving greater control to ordinary investors, who can choose exactly which projects to put their money in and how much they want to invest, from a minimum of only £5.

Climate and Industry Minister, Nick Hurd said: “People living in more energy efficient homes can have lower bills and warmer homes, while producing fewer carbon emissions.

“This is why the Government has committed to improving the insulation of more than one million homes over this Parliament. It’s encouraging to see private sector firms working to deliver energy efficiency to consumers through the Green Deal framework.”