Namibia launches Sustainable Finance Alliance to boost climate resilience

Windhoek, Oct 1 (IANS) Namibia has launched the Namibia Sustainable Finance Alliance (NSFA), a multi-stakeholder platform uniting regulators, banks, insurers, and investment bodies to promote sustainable finance and strengthen resilience to climate change, the country's Central Bank announced Wednesday.

The alliance, formally established at its inaugural meeting, brings together the Bank of Namibia (BoN), the Namibia Financial Institutions Supervisory Authority, the Namibia Savings and Investment Association, the Bankers Association of Namibia, and several commercial banks and insurers, Xinhua News Agency reported.

"The Namibia Sustainable Finance Alliance represents a clear demonstration of the collective resolve of our institutions to address one of the most defining challenges of our time: embedding sustainability and climate resilience into the financial system," said BoN Deputy Governor Ebson Uanguta, who chairs the alliance.

The NSFA will promote sustainable finance, support knowledge sharing, and help Namibia meet its climate adaptation goals, he said, adding that it will begin with two priorities: climate and nature risk assessment, and data and analytics.

Namibia faces rising climate-related financial risks, including loan defaults and increased insurance claims linked to extreme weather.

Uanguta said the financial sector can play a critical role in financing renewable energy, climate-smart agriculture, and sustainable water and land management.

In recent years, Namibian institutions have introduced green bonds, secured access to international climate finance, and taken part in global climate talks. These steps, Uanguta noted, reflect the growing capacity and commitment of the sector to align with global sustainability goals.

Earlier in September, Namibia's capital city, Windhoek, officially launched Zero Emissions Week 2025 to raise awareness about climate change, sustainable mobility, and the benefits of reducing emissions.

With these initiatives, Windhoek is seeking to lead by example, making sustainable mobility and clean energy a reality for its residents.

In his welcoming remarks, Pierre van Rensburg, strategic executive for urban and transport planning at the City of Windhoek, emphasised that Zero Emissions Week is not about following international trends but about addressing practical challenges facing the city, including transport-related emissions, congestion, and urban air quality.

Transport contributes a significant 25 per cent of global carbon dioxide emissions, with vehicles accounting for 70 per cent, according to van Rensburg. He encouraged residents to envision a future with sustainable transport and adopt greener alternatives like public transport, cycling, and walking.

As part of the initiative, the municipality also inaugurated its first electric vehicle charging station, which would help normalize electric mobility and expand EV infrastructure across the city.

--IANS

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