Climate finance drive faces major hurdles
The Bank of Namibia has identified poor climate data, limited technical capacity and weaknesses in Namibia’s project pipeline as some of the major challenges slowing the mobilisation of sustainable finance in the country. The concerns were raised during the first Sustainable Finance Workshop hosted by the Namibia Sustainable Finance Alliance (NSFA), in partnership with the... The post Climate finance drive faces major hurdles appeared first on New Era .
The Bank of Namibia has identified poor climate data, limited technical capacity and weaknesses in Namibia’s project pipeline as some of the major challenges slowing the mobilisation of sustainable finance in the country.
The concerns were raised during the first Sustainable Finance Workshop hosted by the Namibia Sustainable Finance Alliance (NSFA), in partnership with the Bank of Namibia and RMB Namibia, on Monday.
Bank of Namibia Deputy Governor and NSFA chairperson Leonie Dunn said attracting sustainable finance requires more than just having capital available.
She said Namibia needs a supportive policy and institutional environment that allows investors and financial institutions to understand risks and identify opportunities.
“We have learned from the experience of other economies that our immediate priorities should include improving the measurement and disclosure of climate-related risks, as well as developing a common classification system in the form of a national taxonomy,” Dunn said.
