Bank Windhoek recently released its third annual Sustainability Bond Impact Report focusing on the institution ‘ s continuous commitment to ethical business practices and environmental management over the fiscal year 2023 – 2024 . The bank ‘ s Chief Treasurer Claire Hobbs , in a media statement on Monday , said the Sustainability Bond was issued for the first time under the Sustainable Bond Framework in June 2021 . She stated that the first tranche of the bond raised N . dollars 227 million , with a second tranche issued in December 2021 raising N . dollars 180 million . Hobbs stated that the total amount raised for the first offering of the Sustainability Bond was N . dollars 407 million , adding that the Sustainability Bond ‘ s overall allocation in 2022 would be N . dollars 124 million . This figure , she said , fell to N . dollars 58 million in 2023 , but rose significantly to N . dollars 225 million in 2024 . The allocation for 2024 was spread among many areas with the goal of encouraging sustainable de
velopment . She also stated that N . dollars 12 million has been set aside for renewable energy projects and added that sustainable water and waste management received N . dollars 425 , 000 , with an additional N . dollars 25 million going to agriculture . Clean transport was allocated N . dollars 127 thousand . ‘ An additional N . dollars 2 million has been given exclusively for sustainable agriculture . The education sector received the largest allocation in 2024 , with N . dollars 185 million . This is in line with the bank ‘ s focus on supporting initiatives that contribute to environmental sustainability and social progress ,’ she said . Hobbs , however noted that the report marks the final edition for the inaugural Bank Windhoek Sustainability Bond issued in 2021 . ‘ It highlights the Bank ‘ s contribution to achieving Sustainable Development Goals ( SDGs ), reducing environmental impact , and promoting social responsibility through its mandate as a financial services provider . The quantitative and qua
litative data in this report is based on estimates provided by installers and the Bank ‘ s clients , whom we fund to execute financially feasible projects ,’ said Hobbs .
Source: The Namibia News Agency