Bank Windhoek finances sustainable projects worth N$57.6 million – Business Express

Between 2022 and 2023, Bank Windhoek has financed a total of 59 projects to the value of N$57.6 million across Namibia; 54 from Renewable Energy, four were Sustainable Agricultural and one focused on Biodiversity Conservation. This was said by Bank Windhoek’s Chief Treasurer, Claire Hobbs, on Friday, 29 September 2023, when she announced that the Bank had completed the second Sustainability Bond Impact Report, which showcases the allocation of sustainability funds for the 2022-2023 financial year period.

Hobbs said the report highlights the financed projects as per eligible category according to the Sustainable Bond Framework. The quantitative data in the report is based on estimates provided by installers and customers to whom Bank Windhoek provides funding to execute financially feasible projects.

The 2022-2023 allocations were audited by KPMG South Africa, specialists in audit, tax, and advisory services, who conducted a limited assurance assessment to ensure that the financed projects were eligible for financing. The processes described in the Sustainable Bond Framework were adhered to.

Hobbs said that Bank Windhoek understands that sustainable finance is critical in promoting a sustainable, carbon-neutral world. She emphasised that by supporting projects prioritising resource efficiency and healthy ecosystems and promoting the circular economy, sustainable finance helps reduce waste generation, encourages recycling and reuse, and protects ecosystems.

Moreover, Hobbs added that this financial approach considers the long-term impact of investment decisions on financial returns and the broader impact on society and the environment. “It enables corporations, businesses and individuals to invest in initiatives that improve the standard of living, protect ecosystems, and safeguard natural resources for future generations,” she said.

Hobbs concluded that the Bank’s strategic focus on sustainable finance is informed by recognising the importance of this type of financing and its role in creating a sustainable future for Namibia.