Namibia seeks enhanced climate funding to axe carbon emission

WINDHOEK, April 7 — Namibia is seeking increased access to finance, technology, and capacity-building to achieve its ambitious greenhouse gas emissions reduction targets outlined in its Nationally Determined Contributions (NDCs), a senior official said on Monday.
Petrus Muteyauli, deputy director for multilateral environmental agreements at the Ministry of Environment and Tourism, made the remarks at a stakeholder consultation workshop that kicked off in Windhoek, the country’s capital, on Monday. The two-day event centers on strengthening the accreditation of Namibian institutions as Direct Access Entities for the Green Climate Fund (GCF).
“With an updated NDC, Namibia aims to reduce greenhouse gas emissions by 65 percent from the business-as-usual scenario and further increase sink capacity by about 5,000 metric tons of carbon emissions. To achieve this, we need enhanced access to finance, technology, and capacity-building,” Muteyauli said.
He said that Namibia has secured approximately 4 billion Namibian dollars (about 204 million U.S dollars) in climate-related funding over the past 10 years, primarily from the GCF, Global Environment Facility, Special Climate Fund, and the Adaptation Fund.
“The current projects that are under implementation are valued at about 1.3 billion Namibian dollars,” Muteyauli added.
Muteyauli stated that to expedite further access to climate finance, four Namibian institutions — the Namibia Nature Foundation (NNF), the Agricultural Bank of Namibia (Agribank), Bank Windhoek, and the Development Bank of Namibia (DBN) — are seeking GCF funding for essential climate-related initiatives.
According to Muteyauli, each entity has proposed significant programs for GCF funding, the concept notes for which are being reviewed at the workshop.
The NNF proposes a 10 million-U.S.-dollar project to promote climate-resilient regenerative agriculture in northern communal farming areas, while AgriBank seeks 250 million U.S. dollars for a climate-smart agriculture transformation facility, said Muteyauli.
In addition, Bank Windhoek is proposing a 50 million-U.S.-dollar “Clean Energy Facility” to decarbonize Namibia’s electricity supply through renewable energy and the DBN seeks 250 million U.S. dollars for a program aimed at enhancing water security in municipalities.
Namibia’s long-term development plans, Vision 2030, and the Harambee Prosperity Plan II, prioritize economic growth, environmental sustainability, and social inclusion, he added. (Xinhua)