Bank injects N$57,6m into projects

Bank Windhoek spent N$57,6 million to finance a total of 59 projects across Namibia between 2022 and 2023.

According to the bank’s chief treasurer, Claire Hobbs, 54 of the projects are from the renewable energy sector, of which four were in the field of sustainable agriculture, and one in biodiversity conservation.

Hobbs was speaking on 29 September, when she announced that the bank had completed the second Sustainability Bond Impact Report, which showcases the allocation of sustainability funds for the 2022/23 financial year.

She 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 Bank Windhoek provides funding for financially feasible projects to.

The 2022/23 allocations were audited by KPMG South Africa, which conducted a limited assurance assessment to ensure the financed projects were eligible for financing.

The processes described in the Sustainable Bond Framework were adhered to.

Hobbs said Bank Windhoek understands that sustainable finance is critical in promoting a sustainable, carbon-neutral world.

She said by supporting projects prioritising resource efficiency and healthy ecosystems and promoting the circular economy, sustainable finance helps reduce waste generation, encourages recycling and reusing, and protects ecosystems.

She said this 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 said 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.

Bank Windhoek’s second Sustainability Bond Impact Report is available at www.bankwindhoek.com.na.