The National Association of Securities Dealers Automated Quotations (Nasdaq) Sustainable Bond Network in New York on Monday welcomed Bank Windhoek as its newest member. Nasdaq shared the announcement on its official website, social media platforms and the main billboard in Times Square, New York City.
Sustainability Bonds raise additional funding sources and avail favourable loans to fund financially feasible projects that bring clear environmental and social-economic benefits.
Bank Windhoek becomes the first Namibian commercial bank to join the Nasdaq Sustainable Bond Network after the successful issuance and listing of its first Sustainability Bond in the southern African region.
"As a responsible Namibian financial services institution, our membership to the Nasdaq Sustainable Bond Network is a step in the right direction. It supports global efforts in recognising that we can all make a contribution toward a sustainable future," said Bank Windhoek's Managing Director Baronice Hans.
The Nasdaq Sustainable Bond Network provides Bank Windhoek with an online platform to showcase its Green and Sustainable Bond Framework details, impact reports, projects financed and bond listing details.
"Investors and analysts will have access to detailed information for due diligence, selection and monitoring purposes, opening up the opportunity to attract potential investors to Bank Windhoek and Namibia. Our membership to the Sustainable Bond Network demonstrates the credibility of our Sustainable Bond framework," said the Bank's manager of Sustainable Investments and Deal Origination, Ruan Bestbier.
Bank Windhoek's Chief Treasurer Claire Hobbs said given the need for an urgent transition to a low-carbon, climate-resilient economy and sustainable economic development, financial markets play an integral role in driving investments in climate-friendly projects.
"The transition to a sustainable and green economy requires scaling up financing of investments through projects that provide environmental and social benefits," said Hobbs.
The Nasdaq is an American multinational financial services corporation, headquartered in New York City.
The Nasdaq owns and operates three stock exchanges in the United States: its namesake, the Nasdaq stock exchange; the Philadelphia Stock Exchange; the Boston Stock Exchange and seven European stock exchanges: Copenhagen, Helsinki, Iceland, Riga, Stockholm, Tallinn and Vilnius.
The Nasdaq tracks more than 3 300 company listings, including Apple, Microsoft, Amazon and Facebook.
Most of these listings are technology and internet-related.
Still, there are also financial, consumer, biotech and industrial companies that are listed.