N$20bn fund aims to cut Namibia’s carbon footprint

The Green Climate Fund has approved a regional facility worth nearly N$20 billion to finance industrial decarbonisation projects in Namibia and South Africa, but implementation has not yet started. The fund approved the Southern African Industrial Decarbonisation Facility (SIDF) last week, with plans to finance between 30 and 40 industrial decarbonisation projects in Namibia and South Africa. The facility, valued at US$1.2 billion (about N$20 billion), will invest in renewable energy for industrial users, electricity infrastructure, energy storage, green hydrogen, electrification and low-carbon manufacturing. According to the Green Climate Fund (GCF), mining, metals, chemicals and heavy manufacturing “underpin growth, exports