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Funding the future of the green economy

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Presentation on theme: "Funding the future of the green economy"— Presentation transcript:

1 Funding the future of the green economy

2 Content Creation of the Environmental Investment Fund of Namibia
ROADMAP TO CREATING THE EIF Creation of the Environmental Investment Fund of Namibia Governance Overview of how the Fund is managed STRATEGIC FOCUS Focal areas of Green funding by the EIF Investment approach Brief look at EIF financial delivery tools developed Impact to date An overview of the Fund’s green impact in Namibia PLANS FOR 2014/2015 An excerpt of activities to come!

3 Roadmap 13th February 2012: The Environment Investment Fund of Namibia is officially launched Green Plan proposal included and accepted as part of the first National Development Plan (NDP1). 1992: ‘Founding President’ H.E. Sam Nujoma presents the Namibia Green Plan at the Rio Earth Summit. 6th December 2001: Namibia’s Parliament passes the Environment Investment Fund of Namibia Act 1992: The Namibian Green Plan.

4 Governance “The powers and functions of the Board are to accountably, efficiently and properly manage and control the affairs and properties of the Fund and, for that purpose and in furtherance of the objects of the Fund.” Full political support

5 Mission The Mission of the EIF is to promote the sustainable economic development of Namibia through investment in and promotion of activities and projects that protect and maintain the natural and environmental resources of the country.

6 Our Strategic focus Natural Resources Management
Green Technology Investments Tourism Concession and Development Sustainable Industrial practices (e.g. Responsible agriculture, mining & pesticide management) Research and development, education and awareness raising

7 ‘‘...Our Financial Delivery Mechanisms…’’

8 GRANTS Features Project investments that are not recoverable in monetary terms, Investments envisaged to bear socioeconomic & livelihood returns Full project implementation grants, maximum N$ 500,000 Seed grants at N$ 10,000 Civil society, private sector & individuals, etc.

9 Concessional Loans Features: Ring fenced for green investments
Charged up to prime minus 4.25% with a permissible grace period of up to 12 months Minimum loan N$ 500,000 Maximum loan, N$ 4 million Maximum 10 years repayment period Applications are assessed on merit comprising of social and economic development impact, high environmental impact, and financial return

10 Bursaries and Research
Features: Aimed at filling critical skills shortage in Namibia Supports both undergraduates and post graduate students

11 Sponsorship Features:
Corporate social responsibility support to activities that integrates to our business model.

12 ‘‘….Our Impact to date at a glance….’’
Green performance

13 Total Grants Capital commitment
N$ 8.4m 353 job opportunities Bursaries and research Awards N$ 1.3m Estimated Beneficiaries 10855 people Green Soft loan through SME Bank N$ 3 m

14 Investment per focal area

15 NRM, Biod Cons Green Technology Responsible mining Tourism & Research

16 = N$ 79m Project Management Support
UNCCD COP 11 UNFCCC Successfully managed projects valued at N$ 79m = UNDP Small Grants Programme (HI) Biodiversity and Land Management Project Climate Change Adaptation Project

17 ‘‘Challenges’’

18 General understanding of environmentally based enterprise development remains a challenge
Green financing requires skills that are rare or very competent on the job market Green financing demands substantial amount of investments of which the Fund is unable to provide

19 ‘‘highlights of the fund’’

20 Winning the Global Sustainable Finance Award

21 Winning the Global Sustainable Finance Award

22 Association with EzyStove: the internationally Award-winning Energy-saving stove
Saves approximately 1,400 trees a year 30,240 fewer hours a year spent collecting fuel wood which can be used for more productive activities CO2 emissions per year reduced by 216 tones and 60% reduction in toxic emissions Saves approximately N$ 50,200 a year on money spent on firewood 1,060 Ezy Stoves were sold during Trade Expos between January 2012 and February 2013.

23 Olushandja Horticulture Farmers Association: Winner of the 2013 Small Scale Farming Category presented by the Namibia Agronomic Board

24 New institutional partnerships: Launch of EIF/SME Bank Green Soft Loans

25 Discovery of a new plant species Hmmm, wonder what they’ll name me!

26 First EIF Bursary awards

27 Catalysing local level innovation

28 This year … Increased coverage

29 Going Forward… Launch the concessional loan book portfolio
Unlock the potential of environmental levies in Namibia The creation of “Green jobs”

30 Going Forward… Position the Fund to be a National Implementing entity for climate financing Implement community adaptation to Climate change related impacts Create awareness of sustainable consideration at local, regional, national levels Support national research on E-Waste, used tyres, chemicals and toxic products

31 Thank you for listening
2nd Floor Capital Centre, Independence Avenue, Windhoek Namibia FACEBOOK AND TWITTER

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