By: Nghiinomenwa-vali Hangala
The country’s biggest pension fund and largest single investor has committed to continue allocating more of its pension savings into climate adaptation and climate mitigation-related assets.
This was stated in a speech delievered on behalf of the chairperson of the Government Institutions Pension Fund (GIPF) Board of Trustees, Penda Ithindi, at the recent Alliance for Financial Inclusion (AFI) 2025 Global Policy Forum.
Ithindi noted that the GIPF Board of Trustees has observed the growing opportunities within the climate adaptation and climate mitigation investment space, both regionally and in Namibia.
He said the Fund is committed to allocating more capital to climate-related areas of investment, provided they align with the Fund’s investment objectives of ensuring responsible and sustainable investments that are inclusive in nature, span across various sectors, and have a significant impact.
Ithindi added that the Fund has noticed the surge in the issuance of green bonds by some bond issuers in Namibia over the past 5 years.
The GIPF has taken up N$56 million of the N$227 million Bank Windhoek Green Bonds issued in June 2021. Additionally, the Fund has invested in the First National Bank of Namibia’s sustainability bonds issued in March 2025.
The Fund’s commitment to integrating these principles has resulted in an increase in its asset allocation to sustainable investment vehicles. These include green bonds and infrastructure projects aligned to Namibia’s climate change mitigation and development goals, resulting in financial inclusion through sustainable investments.
The Fund’s investments are inclusive in that the GIPF is accessible and open to investment projects that benefit communities through job creation and socio-economic empowerment.
GIPF has adopted the United Nations Principles for Responsible Investment (UNPRI) as a framework to guide its investment approach.
As a UNPRI signatory, “we advocate for climate resilience, and socially impactful investments,” Ithindi noted.
The Fund has also adopted a Responsible Investment and Active Ownership Policy (2022), which ensures that environmental, social, and governance (ESG) principles are embedded across all investment processes.
This includes pre and post-investment, monitoring, and influencing through stewardship and proxy voting practices.
In terms of the alternative investment space that enables capital to flow outside the listed corporations, GIPF has, over the past 9 years, committed N$2.1 billion through various Namibian assset managers.
This is for infrastructure projects that are aligned to Namibia’s energy transition and development needs – these commitments are currently close to N$1 billion already drawn and invested. erastus@thevaillager.com.na
