Energy-efficiency key to fight climate change

18 October 2019 | People

Ruan Bestbier

The Bank of Namibia report on Namibia’s second quarter performance found that fuel imports significantly contributed to the decline in the country’s current account.

An analysis by PSG Namibia states that the value of fuel imports increased in part due to a rise in fuel consumption stemmed from higher electricity production at the Anixas diesel-run power plant. This emergency diesel power station had to be used due to poor rainfall adversely affecting the Ruacana hydropower station’s electricity output.

This situation is one example as to why Namibian companies have turned to investigating and deploying energy efficient technologies to reduce their dependence on traditional forms of energy, such as fossil fuel and electricity. This is motivated by the fact that by applying energy-efficient methods, more can be done with less.

The impact of the cost of energy is also felt in key economic industries in Namibia, such as fishing and manufacturing. The fishing industry continues to be an energy-intensive activity and fishing fleets still need to adapt to high and ever-changing energy prices. In addition, the volatile oil price is a cause for economic concern for the fishing industry.

In Namibia, we continuously see the impact of global warming and the effects of climate change on our local environment and businesses. With Bank Windhoek’s Green Bond initiative coupled with SUNREF’s technical assistance facility, we aim to turn bankable projects into sustainable realities. By effecting energy-efficient technology or practices on your business, the long-term benefits will include savings in cost and maintenance expenses and most of all show that you are serious about climate change and its impending consequences.

It is important to note that the scope of the overall savings and the methodology required depend on the situation and location of the building or company and improving energy efficiency is a key tool for reduced carbon dioxide emissions over the long run.

To be more energy-efficient, the way forward is to take a systematic approach, with the purpose of obtaining adequate knowledge of the existing energy consumption when profiling your building or group of buildings and industrial or commercial operation. Further, identifying and quantifying cost-effective energy saving opportunities and reporting the finding of these opportunities to the management of your organisation to take action. One of the immediate remedies for addressing these concerns is to apply energy-efficient practices which reduce your carbon footprint and enhances cost savings, leading to an overall contribution to your company’s bottom line.

To implement recommended changes to address climate change, effective policies, private sector action and public-private cooperation are needed to assist in creating a more inclusive, sustainable, and affordable and secure local energy system.

Furthermore, the issuance of Namibia’s first Green Bond, and being a proactive partner of the SUNREF Namibia Programme, is testament to Bank Windhoek and Capricorn Group’s vision of being the financial partner of choice, ultimately leading to positive change in the country and the southern African region. It is evident that there are still many untapped opportunities to use energy-efficiency to save money, cut harmful pollution and meet our climate goals of a limiting the global temperature rise to below two degrees Celsius to pre-industrial levels.

*Ruan Bestbier is Bank Windhoek’s manager of sustainable investments and deal origination

Similar News

 

Thought leadership

22 hours ago | People

NDANGI KATOMAIn a very short time, the coronavirus has changed so much about our lives.It is easy to think you’ll never get ahead when you...

Marketing through the lens of a creative

22 hours ago | People

ESTER KAMATIAs part of the DOLOLO group of entrepreneurs and a 2019 alumnus of the Africa Pathfinders Leadership initiative, Andreas Elifas’s objective is to attain...

Behind the scenes of the big production

22 hours ago | People

Ester Kamati Okahandja-born Asser Uakondjisa Kauazunda moved to Windhoek in 2001, where he stayed with his aunt while working as a bartender and saving to...

Pursuing greatness

22 hours ago | People

MARISELLE STOFBERGFrancois Steynberg is one of only two Namibians who hold a Chartered Markets Technician (CMT) qualification. His rise to the top in the foreign...

The unpredictability of journalism

22 hours ago | People

MICHELLINE NAWATISESKristien Kruger was born at Otjiwarongo, then moved to Walvis Bay and then Windhoek. She attended Windhoek High School from grade 8 to 12...

Sanlam: Achieving a strong and competent compliance culture

22 hours ago | People

MICHELLINE NAWATISES Xavier Cupido was born and raised in Windhoek and completed high school at Academia Secondary School. Immediately after school he started working...

New zest added to Sanlam Namibia

1 week ago - 07 August 2020 | People

Michelline Nawatises Juan Laufs hails from Keetmanshoop. He completed school in Keetmanshoop and furthered his studies at North West University in Potchefstroom, South Africa. He...

Shaking up the North

1 week ago - 07 August 2020 | People

Michelline Nawatises Simon Haufiku is conquering the northern part of the Land of the Brave. He obtained a national certificate as a boilermaker at the...

Inspire through knowledge

1 week ago - 07 August 2020 | People

Mariselle StofbergWolfgang Erni’s biggest inspiration in life is the fact that we can acquire new knowledge every day. He believes one should never give up...

Interactive marketing via social media

1 week ago - 07 August 2020 | People

Ester Kamati Embracing her love for language, interaction and diversity, Zavia Johr is a Delta Secondary School alumnus. Her fondness for linguistics has influenced her...

Latest News

Thought leadership

22 hours ago | People

NDANGI KATOMAIn a very short time, the coronavirus has changed so much about our lives.It is easy to think you’ll never get ahead when you...

Marketing through the lens of...

22 hours ago | People

ESTER KAMATIAs part of the DOLOLO group of entrepreneurs and a 2019 alumnus of the Africa Pathfinders Leadership initiative, Andreas Elifas’s objective is to attain...

Price monster hungry

22 hours ago | Economics

Although annual overall inflation in Namibia last month stayed unchanged at 2.1%, annual overall food inflation increased to 6.2% - up from 4.9% in June...

Tough times for mines in...

22 hours ago | Business

Jo-Maré Duddy – Of the 16 operating mining companies included in the latest annual review of the Chamber of Mines of Namibia, six last year...

Fishing quota auction storm grows

22 hours ago | Fishing

OGONE TLHAGEWINDHOEKGovernment's decision to auction off its fishing quota, and then use the proceeds to finance its efforts to fight the Covid-19 pandemic is continuing...

Samherji begs for release of...

22 hours ago | Fishing

OGONE TLHAGEWINDHOEKIcelandic firm Samherji, which is at the centre of the Fishrot bribery scandal, has asked Namibian authorities to release its fishing vessel Heinaste, which...

Education kneecapped by shortage of...

22 hours ago | Education

KENYA KAMBOWERUNDUEducation minister Anna Nghipondoka says Namibia has a backlog of over 5 000 classrooms, which has made it a challenge to comply with the...

Growing hip-hop in the north

22 hours ago | Art and Entertainment

MICHAEL KAYUNDE WINDHOEKSkipper Wills' breakthrough came in 2017 when he was selected to take part in the Old & New hip-hop documentary. He has since...

Kay-Z Bearens on his 2020...

22 hours ago | Art and Entertainment

MICHAEL KAYUNDE WINDHOEK Rapper Kay-Z Bearens released his first single in 2015, and though on the underground scene, he's pushed his music over the years.In...

Load More