Green bank launches green financing for projects that will help reduce the national carbon footprint
Nedbank, in partnership with a green investment promoter, has just launched a new financing facility for what the bank describes as “sustainable and green projects.” It is the intention that this funding is made available to companies who want to green their operations or start a climate-friendly project.
The bank’s Head of Business Banking, Britt du Plessis, said their clients can now apply for funding to finance renewable energy, energy efficiency, sustainable agriculture or sustainable tourism projects. “Any business that will directly benefit from the implementation of green technology, seeks to diversify their portfolios or build capacity for green financing can benefit from the offering.”
Nedbank said it is working with Sunref Namibia to promote sustainability. The Sunref Namibia Technical Assistance facility provides local companies with the required expertise to assess the financial impact of green investments. Sunref is funded by Agence Francaise de Developpement, enabling them to provide this technical assistance free of charge.
Bringing together a number of their clients at an information session last week, Nedbank introduced the new green finance facility. At this event, Sunref’s Andrew Hoy, explained the detail of using green financing to achieve measurable outcomes in terms of reducing a company’s carbon footprint, with a positive impact on the bottom line.
“During a time when climate change calls for urgent and increased action at all levels in society, reducing our carbon footprint has become a concern not only for national governments and environmental lobbyists but stakeholders and businesses at every level of the value chain. The impact of climate change transcends national and international borders and are felt the world over,” said Hoy.
“Therefore transitioning to renewable energy is one of the most powerful ways for a country to [help] reduce the global [as well as] its [own] ecological footprint. Greening business operations has thus become a business imperative.”
Du Plessis added that the green credit line provides versatile funding for investment across the entire life cycle of a green project, from project identification and conceptualisation to selection of technologies and the calculation of financial and environmental benefits.
Caption: Nedbank Namibia Head of Business Banking, Britt du Plessis (left); Cosmos Shaduka, Andrew Hoy and Jose Luis Bobes, all from SUNREF Namibia, with Yvette Hausiku of the Environmental Investment Fund on the right.