The Environmental Investment Find of Namibia (EIF) recently received a certificate of merit and was among the most decorated institutions at this year’s Karlsruhe Sustainable Finance Awards & Certification Ceremony, which was held at the Achat Hotel in Karlsruhe, Germany on 30 September 2020.
The Sustainable Finance Awards honour financial institutions and related organisations with significant contributions to the field of sustainable banking and finance. The awards aim to provide recognition to financial institutions that have successfully embedded economic, social and environmental sustainability into their organisational culture and honour organisations that have made outstanding contributions in the field of sustainable finance, among other objectives.
The Environmental Investment Fund of Namibia was awarded for its recognition in outstanding success in long-term financing of exemplary financing in climate-change resilient livelihoods because of the projects that benefit local communities, protect the environment and ensure sustainable development.
The establishment of the products such as the financial grants, concessional loans, green soft loans scheme, sponsorships and bursaries are all in line with the aims and objectives of the fund.
These are to mobilise funding for the maintenance of an endowment fund that will generate income in perpetuity and allocate this income to activities and projects, which promote the sustainable use of the environment and its natural resources.
The maintenance of biological diversity and the ecological processes that underpin them; and thereby contribute to economic improvements for sustainable rural and urban development are the reasons that have led the fund to being recognized for its hard work.
Receiving the award on behalf of the Environmental Investment Fund of Namibia was the Namibian Ambassador to the Federal Republic of Germany, Andreas Guibeb. In his acceptance speech, Guibeb, highlighted that EIF and Namibian people by large extension are committed to sustainable development and ensuring that local resources are used for the benefit of all Namibians and in a sustainable manner.
He further alluded that as a country, Namibia was the first country in the world to enshrine in its constitution the right to environmental protection in Article 95 of the Namibian constitution and has since independence ensured that the issue of environmental protection and sustainable use of resources has been prevalent in all its developmental projects and goals such as the National Development Plan of Namibia, commonly known as NDP and Vision 2030, which aims to make Namibia an industrial nation by the year 2030.
Meanwhile, a spokesperson for the EIF said the fund is humbled by this award as it shows that it is committed to mobilising funds for sustainable goals, including climate protection, smart agriculture and being responsive in the challenges that are posed by climate change overall.
“This award further shows that the Namibia government and its people are committed to sustainable financing and its committed to attaining sustainable development awards.
The fund also recognizes the role played by all our stakeholders and civil society towards the sustainable financing of projects that benefit local communities, protect the environment and ensure sustainable development,” said the spokesperson.
“This award undoubtedly reflects and acknowledges that the EIF as an institution is capable of producing shareholder return on investment, both financially and environmentally.
This award represents our improved communications tools to our international stakeholders as this fully acknowledges that the EIF as an institution is capable of producing shareholder returns on investments, both through financial and environmental impact.
This award further demonstrates the cooperation, commitment and dedication of government more specifically the Ministry of Environment, Forestry and Tourism, Ministry of Agriculture, Water and Land Reform, board of directors of the fund, CEO of the fund, the committed and competent staff members of the Fund and all its stakeholders,” the spokesperson concluded.