TheroleoffinanceinNamibia'senergyambitions

MEDIA RELEASE

14 DECEMBER 2023

RMB Namibia and Capricorn Group share climate change mitigation goals at COP28

RMB Namibia and the Capricorn Group are committed to sustainable practices, responsible financing and a collective effort towards a greener and more inclusive future. Both organisations recently participated in a panel discussion in support of COP28* to discuss the role finance can play to drive Africa’s, and in particular Namibia’s, energy ambitions.

RMB Namibia also sponsored N$200,000.00 to the Ministry of Environment, Forestry and Tourism as part of its commitment to sustainable Environmental, Social and Governance (ESG) practices.

"In the spirit of co-operation and shared responsibility, the collaboration between banks and accountable institutions in Namibia is testament to our unwavering commitment to the ESG agenda. Together, we want to contribute to the global dialogue at COP28 – reinforcing the belief that meaningful partnerships are key to building a resilient and sustainable world for generations to come," says James Chapman, Executive Officer of Specialist Finance and Retail Banking Service at Bank Windhoek (a subsidiary of the Capricorn Group).

Chapman was joined by panel members Nigel Beck (Head of Sustainable Finance and ESG Advisory at Rand Merchant Bank in South Africa) and Olufunso Somorin (Regional Principal Officer at the African Development Bank).

“Achieving the duality of climate and social goals is ever more important for emerging African countries like Namibia. Unconventional partnerships are a catalyst to achieve these dual goals,” said Dr El Sherif, Strategy and Innovation Lead at RMB Namibia and moderator of the discussion.

While discussions around climate change directly impacts the environment, RMB believes that the social and governance aspects also need to be factored in to create a sustainable ESG strategy. COP28 will be the space to draw knowledge from, and assess and implement learnings in the longer-term in the RMB context. This is part of RMB’s greater strategy to position their ESG and sustainability solutions expertise in Namibia and throughout Africa.

*COP - Conference of the Parties is an annual meeting where countries that are parties to the United Nations Framework Convention on Climate Change (UNFCCC) gather to discuss and negotiate actions to address climate change. Each COP meeting is an opportunity for countries to showcase their commitment to climate action and to participate in global efforts to mitigate the impacts of climate change. COP28 was hosted in the United Arab Emirates (UAE) this year.

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