WINDHOEK, Mar. 1 – Minister of Environment and Tourism, Hon. Pohamba Shifeta has said that Namibia has one of the most fertile grounds for renewable energy in the world.
Shifeta was addressing delegates on the occassion of the signature of a Memorandum of Understanding between the Ministry of Environment and Tourism (Green Climate Fund National Designated Authority) and the Development Bank of Southern Africa regarding access to the Green Climate Fund (GCF.)
“We have one of the best solar regimes with over 3,300 hours of sunshine per year and the 1,500km coastline that has excellent potential for wind-based electricity generation. Namibia also has one of the lowest population densities in the world with vast tracts of un-used land available for the establishment of large-scale renewable energy infrastructure,” said Shifeta.
Climate change is presently recognized as one of the greatest global challenges, said Shifeta, adding that Namibia is one of the most vulnerable countries in the world that is facing the impacts of climate change.
“Thus, the signing of this Memorandum of Understanding is a milestone in our endeavour towards the mobilization of the much needed climate finance in order to enhance climate resilience for our people and while at the same time tapping on mitigation investment opportunities which can significantly reduce the Greenhouse Gases.”
Namibia has communicated its climate change actions through its Intended Nationally Determined Contributions submitted to the United Nations Framework Convention on Climate Change (UNFCCC).
According to Shifeta, the implementation of this INDC will cost around USD 33 billion up to 2030, of which 10 percent will be sourced by Namibia through domestic financial resources and the remaining 90 percent of this cost will be mobilized from multilateral and bilateral sources in line with Article 4 of the UNFCCC particularly the principle of common but differentiated responsibility.
“According to our estimation, Namibia would need about USD 22 billion for adaptation and USD 11 billion for mitigation,” said the Minister, adding that the signing of the MOU had come at an opportune time for Namibia to mobilise financial resources needed to fully implement the Nationally Determined Contributions to the fight against climate change.
Through DBSA, as an accredited entity to the Green Climate Fund, Namibia is now in a position to undertake programing of transformative projects in the areas of food security, water, renewable energy and resilient infrastructure. Namibia’s commitments to the world in terms of emissions is to reduce the Greenhouse Gas emissions by 89% by 2030.
“This will involve increasing the share of renewable energy on electricity production to 70% by 2030; reducing energy consumption by about 10% through energy efficiency programme. We believe that with proper planning and the availability of financial resources and technical capacity, this commitment is achievable,” said Shifeta. – Musa Zimunya