RMB Namibia CEO Philip Chapman says there are many ESG opportunities people should seize.
He said for a long time many Namibian corporations have participated and delivered sustainable practices even before it was called as such.
“As of late, with the COP27 commitments having been made and the global push to net zero to see how to contain global warming at 1.5°C higher, ESG comes to the front with the E really taking centre stage of what we do for the environment and climate,” he said.
Chapman delivered these remarks as a panellist at the RMB Namibia and the Government Institutions Pension Fund’s (GIPF) “Setting the Stage for ESG” collaborative panel discussion on ESG challenges and opportunities in Namibia last Wednesday. The Brief partnered on this important discussion as the official media partner.
The panel comprised the GIPF CEO, David Nuyoma, and a globally renowned socioeconomic strategist, Retha van der Schyf, who highlighted pertinent issues such as financial innovation, regulatory framework and the role that corporates play in ESG.
According to Chapman, there has been a noticeable improvement in the outlook for sustainable nations, corporate deliverance in the areas of the environment, governance, and the improvement of society.
“There is a more deliberate outlook on ESG and thought to what society needs to propose as opposed to chasing a profit target or shareholder outcome than a stakeholder outcome,” he said.
Chapman further added that the country is making great strides in the energy transition efforts with performance far outstanding compared to peers in the energy space.
“Namibia is a leader in the energy space, if we think about renewable energy that is generated in Namibia compared to our peers, we are on a trajectory to deliver a sustainable position of energy from sustainable resources such as wind and solar,” he said.
He further said a significant multiplier effect will be observed in the Namibian economy.
“Namibia has the potential to deliver a great societal outcome through green hydrogen and sustainable power generation,” he said.
Nuyoma said the social in ESG has been entrenched in the Corporate Governance Code for Namibia (NamCode) which provides a list of best practice principles to assist and guide directors to make the right choice for their entities.
“The Namibian government has established a global approach to responsible investment to address climate issues such as floods and other climate-related issues. This includes doing the right thing that is sustainable in the long term for the environment and society,” he said.
Additionally, noting that corporations must come together to reduce the destruction of the climate and how to save planet Earth.
In this bid, he said the GIPF ascribes to the United Nations Principles for Responsible Investments.
“All asset and fund managers who are signed with us are expected to ascribe to the best responsible investment practices in their operations and financing with the money they obtain from GIPF to institute such measures that have a positive impact on the environment and good governance,” he said.
Nuyoma, in terms of financial innovation and as an enabler to corporates driving ESG, the GIPF plays an active role in acquiring Green Sustainable bonds placed in the market.
The framework and structure of the Harambee Prosperity Plan, according to Van Der Schyff lays the groundwork for a very sustainable mind-set for the country.
“Namibia has a regulatory structure and geopolitical issues that predate ESGs, but companies like B2Gold and Gondwana already have a culture of sustainability for conservation and a holistic approach. This was a pleasant surprise to the speaker upon her first business engagement in Namibia in 2014, as Namibia had a culture of sustainability before ESGs.” she said.
On this note, Nuyoma further highlighted that Namibia has policies in place through the Ministry of Environment and Tourism that requires it to acquire an environmental impact assessment that protects communities and the environment.
* The Brief partnered with the RMB and GIPF on this event, as an official media partner.
