Locally owned commercial bank gets international nod for its Green Bond Issuance
Bank Windhoek was awarded the Green Bond Pioneer Award by Climate Bonds Initiative at the 4th Annual Green Bond Pioneer Awards, announced before an international audience in London on the eve of the 2019 Climate Bonds Annual Conference.
In December 2018, Bank Windhoek positioned itself as the first commercial bank to issue a Green Bond domestically and across the southern African region. Thus, in addition to receiving the award, Bank Windhoek is a recipient of a Certificate of Recognition for issuing the first green bond from Namibia.
“We are seeing emerging economies stepping up their efforts and taking active regional roles, demonstrating much needed leadership. To reach the vital goal of the first trillion US dollars in annual global green finance, there needs to be an increased focus on capital flows to emerging economies into the 2020’s. The recipients of the 2019 Awards, like Bank Windhoek, are at the forefront of this climate finance challenge. We thank these pioneers for demonstrating to the world that green finance is the tool to get us there,” said Sean Kidney, CEO of Climate Bonds Initiative.
The Bank Windhoek Green Bond complies with the Sustainable Stock Exchange Initiative, a UN Partnership Programme of the UN Conference on Trade and Development and the UN Global Compact.
Claire Hobbs, Chief Treasurer at Bank Windhoek said that as a member of Capricorn Group, Bank Windhoek aims to become the Green Financier of choice for sustainability projects in Namibia and countries in which the Group operates.
“As the only locally owned commercial bank in Namibia, Bank Windhoek shares the responsibility to protect our country for future generations by actively contributing to and facilitating the transition to a low-carbon and climate resilient economy. As such, the Bank seeks sources of funding for its green lending activities by raising funds in the debt market through a local Green Bond Issuance, from which the proceeds are used to finance eligible green projects and assets throughout Namibia. We want to thank the Climate Bonds Initiative and the committee for this recognition of our climate action green efforts,” Hobbs said.