Green Bond Fact Sheet

Bank Windhoek issued a NAD66.6 million (USD4.8 million) private placement green bond on December 5, 2018, marking the first such issuance by a Namibian entity. While the bond covers a wide array of green categories and aligns with IFC definitions, the Climate Bonds Initiative noted concerns regarding the lack of stringent eligibility criteria for energy efficiency and the potential for financing emission reductions in fossil fuel operations.

• Bank Windhoek issued a private placement green bond on December 5, 2018, with a total amount of NAD66.6 million (approximately USD4.8 million).
• This issuance represents the first green bond from a Namibian issuer and the second from a commercial bank in the South African region, following Nedbank.
• The bond's proceeds are intended for a broad range of eligible projects, including renewable energy, buildings, transport, water, waste, land use, and adaptation, following IFC Definitions and Metric for Climate Related Activities. While fossil fuel energy generation and coal mining are excluded, the framework allows for projects that reduce emissions from existing oil and gas installations, such as fugitive methane emissions and gas flaring.
• The Climate Bonds Initiative identified several 'red flags' regarding the bond's eligibility criteria, specifically citing concerns over the potential financing of fossil fuel-based technology improvements and a lack of stringent requirements for energy efficiency (minimum 15% savings) and green building certifications. Additionally, the CBI noted a lack of explicit requirements for sustainable feedstocks in bioenergy and biomass projects.
• Bank Windhoek has committed to annual public reporting on its website regarding allocated proceeds, as well as publishing an impact report detailing project locations, financing amounts, and impact indicators, which will be reviewed by an external auditor or reviewer.

APA

Climate Bonds Initiative (2018). Green Bond Fact Sheet. https://www.climatebonds.net/files/drupal-files/files/2018-12%20NA%20Bank%20Windhoek.pdf

Chicago

Climate Bonds Initiative. Green Bond Fact Sheet. 2018. https://www.climatebonds.net/files/drupal-files/files/2018-12%20NA%20Bank%20Windhoek.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=Green Bond Fact Sheet |date=17 December 2018 |url=https://www.climatebonds.net/files/drupal-files/files/2018-12%20NA%20Bank%20Windhoek.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiative2018green, author = {{Climate Bonds Initiative}}, title = {{Green Bond Fact Sheet}}, institution = {Climate Bonds Initiative}, year = {2018}, month = dec, url = {https://www.climatebonds.net/files/drupal-files/files/2018-12%20NA%20Bank%20Windhoek.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }