Bank Windhoek’s Chief Treasurer, Claire Hobbs, said climate change would only be harmful if interventions to increase resilience are not practised worldwide. Hobbs said this when she launched the Bank’s Sustainability Loan Awareness Campaign in Windhoek on Wednesday, 8 March 2023.
“Bank Windhoek is committed to providing unique financial solutions for green and sustainable initiatives. As a result, we are delighted to announce the launch of the Sustainability Loan Awareness Campaign, which offers green financial solutions for all Bank Windhoek customers, including staff members,” she said.
Sustainable loans are mutual credit facilities which assist in fulfilling the needs of current generations without compromising those of future generations. They ensure a balance between economic growth, environmental care and social well-being.
Themed ‘A Better Future Tomorrow, Today’, the campaign’s key objective is to create awareness of the Bank Windhoek Sustainability Loan. “Including positioning the Bank as the leader in green financing, the theme will highlight individuals’ and businesses’ opportunities to act and positively impact their future,” said Hobbs. “It will encourage customers to support a transition to a more sustainable and environmentally friendly future, highlighting the importance of addressing environmental challenges.”
The Sustainability Loan will support the following project categories: Energy Efficiency and Resource Efficiency; Green Buildings; Sustainable Waste Management; Sustainable Land Use; Clean Transportation; Sustainable Water Management; Climate Change Adaptation; Green Trade; Climate Smart Agriculture; Non-energy Greenhouse Gases emission reduction and Renewable Energy.
Leading green financing
Bank Windhoek is a regular issuer of debt instruments in Namibia and South Africa. In 2018, the Bank issued and listed the first Green Bond on the Namibian Stock Exchange (NSX) as a commercial bank in the Southern African region. “This initiative won Bank Windhoek the Green Bond pioneer award from the Climate Bond Initiative. The proceeds from the bond fund were to finance projects that benefit the environment, such as loans for installing renewable energy sources,” said Hobbs.
In 2021, Bank Windhoek issued and listed on the NSX a Sustainability Bond, another first for the sector and region. The Sustainability Bond allowed Bank Windhoek to join the Nasdaq Sustainable Bond Network. “This positioned the Bank to showcase Namibia’s proficiencies and assist in deepening the country’s financial markets while indicating its commitment to the United Nation’s Social Development Goals (SDG) and the path to creating a low carbon economy,” said Hobbs. A Sustainability Bond focuses more on financing projects demonstrating environmental and socio-economic benefits. This includes allocation towards social projects such as schools and hospitals or addressing gender equality.
“The Sustainability Loan will empower customers to shape a sustainable future actively, equalising the transition to a low-carbon society, making Namibia and the world a better place to live,” Hobbs concluded.