Bank Windhoek finances N$57.6m worth of sustainable projects

October 06, 2023

Bank Windhoek financed 59 sustainable projects worth N$57.6 million across Namibia during the 2022-2023 financial year.

Of the projects financed by the bank, 54 are in the renewable energy space, four are in sustainable agriculture, and one is focused on biodiversity conservation.

Bank Windhoek’s Chief Treasurer, Claire Hobbs, said the financed projects had received funding according to the eligible categories outlined in the bank’s Sustainable Bond Framework.

“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 met the eligibility criteria. The processes described in the Sustainable Bond Framework were adhered to. The quantitative data in the report is based on estimates provided by installers and customers to whom Bank Windhoek provides funding for executing financially feasible projects,” she said.

Hobbs said by supporting projects that prioritize resource efficiency, healthy ecosystems, and the promotion of the circular economy, sustainable finance helps reduce waste generation, encourages recycling and reuse, and protects ecosystems.

“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, adding that the bank’s financial approach considers the long-term impact of investment decisions on financial returns and their broader impact on society and the environment.

Hobbs also highlighted that the Bank's strategic focus on sustainable finance is driven by recognizing the importance of financing and its role in creating a sustainable future for Namibia.

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Last modified on Sunday, 08 October 2023 13:02

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