Windhoek, Oct 1 (NationPress) Namibia has officially launched the Namibia Sustainable Finance Alliance (NSFA), a collaborative platform that brings together regulators, financial institutions, insurers, and investment entities to advance sustainable finance and enhance resilience against climate change, as announced by the Central Bank of Namibia on Wednesday.

The alliance, which was formally inaugurated during its first meeting, includes key players such as the Bank of Namibia (BoN), the Namibia Financial Institutions Supervisory Authority, the Namibia Savings and Investment Association, the Bankers Association of Namibia, and various commercial banks and insurance companies, according to reports by Xinhua News Agency.

Deputy Governor of BoN, Ebson Uanguta, who chairs the alliance, stated, "The Namibia Sustainable Finance Alliance is a testament to our institutions' unified commitment to tackling one of the most pressing challenges of our time: integrating sustainability and climate resilience into our financial frameworks."

The NSFA aims to promote sustainable financial practices, facilitate knowledge exchange, and assist Namibia in achieving its climate adaptation objectives. Uanguta highlighted that the initial focus will be on climate and nature risk assessment, alongside data analytics.

Namibia is grappling with escalating climate-related financial challenges, such as rising loan defaults and increased insurance claims due to extreme weather events.

Uanguta emphasized the pivotal role that the financial sector can play in financing renewable energy, climate-smart agriculture, and sustainable land and water management.

In recent years, Namibian institutions have pioneered initiatives such as green bonds, accessing international climate finance, and participating in global climate discussions. Uanguta remarked that these actions reflect the sector's growing capacity and dedication to align with international sustainability standards.

Earlier in September, Windhoek, Namibia’s capital, launched Zero Emissions Week 2025 to raise awareness about climate change, sustainable transport, and the advantages of reducing emissions.

Through these initiatives, Windhoek aims to set an example, making sustainable transport and clean energy accessible to its citizens.

Pierre van Rensburg, the strategic executive for urban and transport planning in Windhoek, stated that Zero Emissions Week is not merely about adhering to global trends; it focuses on tackling local challenges such as transport-related emissions, congestion, and air quality.

Transport is responsible for a significant 25% of global carbon dioxide emissions, with vehicles contributing 70%, according to van Rensburg. He urged residents to envision a future with sustainable transport and to adopt greener alternatives such as public transport, cycling, and walking.

As part of this initiative, the municipality inaugurated its first electric vehicle charging station, which will aid in normalizing electric mobility and expanding EV infrastructure throughout the city.