Is Eswatini ready for EVs, green financing?
EZULWINI – With the introduction of electric vehicles (EVs) in Southern Africa and the uncertainty of the electricity supply beyond 2025, is Eswatini ready for green financing?
This was one of the questions posed to the private sector yesterday during the Eswatini Inaugural Green Energy Indaba focusing on green finance, hosted by the private sector through SNG Grant Thornton in partnership with the government at the Happy Valley Hotel.
“There are a lot of projects in planning that are climate smart but still need investment.”
The above was mentioned by the Minister of Tourism and Environment Affairs, Moses Vilakati, who said the main purpose of the conference was to initiate the private sector to discuss how they can raise financial instruments that would help fund the green economy, in particular green bonds.
Projects
“Others, in particular infrastructure development projects, are still to go to the design stage, wherein there is a need to ensure that the designs are low carbon and climate resilient. We need to ensure that our infrastructure is resilient to the negative impacts of severe weather events that are becoming more frequent and more intense,” added the minister. He also said they were currently working on a private sector engagement plan. We have also
Emissions
they were joking. He said his doubts were informed by a realisation of the enormity of the effort and the vastness of stakeholders who would drive the planning and contribute to the event.
“My colleagues and the organisers lived up to our CLAERR (collaboration, leadership, agility, excellence, respect, and responsibility) values, in particular agility and collaboration, in working with various stakeholders to make this event possible. We believe a lot can be achieved through collaboration,” he added.
The compact EV hatch boasts zero emissions, is 100 per cent electric, and has already earned itself numerous prestigious awards. The Nissan LEAF car was first introduced to the world at the end of 2010, going on sale in the United States and Japan.
Measures
Prime Minister Cleopas Dlamini added that there were a number of innovative measures put in place to automate financial trading systems within the country and region.
“Such solutions will allow every liSwati, from grassroot to company level, to trade and access credit.
‘‘You will agree with me that these innovations resonate well for retail investors’ financial inclusion, in line with the Fourth Industrial Revolution. All these systems are connected to the Central Bank of Eswatini (CBE) for clearing and settlement,” added the prime minister.
He also said that, as an emerging economy, Eswatini has a lot of potential across all industries and sectors to raise who was the organiser of the event, social, sustainability, and gender bonds, said when the SNG GT team presentwhich global investors currently have a ed the first concept paper and idea of huge appetite to invest in. hosting a Green Indaba, he thought Dlamini said the principles of ‘green framework, and, as such, a Climate
Change Bill is currently under formu-much needed finance by issuing green, lation,” added the prime minister.
The electric car that was driven by the prime minister yesterday was the Nissan LEAF Electric Vehicle. Nissan’s ‘Leading Environmentally Friendly Affordable Family Car,” or Nissan LEAF, has been changing the face of green motoring across the entire globe. bonds’ were aimed at supporting debt issuers in financing environmentally sound and sustainable projects that foster a net-zero emissions economy and protect the environment.
The prime minister also said there was a need to mobilise the required resources from both external and internal sources, as well as public and private.
“No one sector can meet the overall need, hence the need for stronger collaboration. If our economy is to thrive, and we are to leave our children with a habitable planet, we really need to invest in a green economy,” he added.
Dlamini also mentioned that the government was already working on the accreditation of national entities to the Green Climate Fund to improve access to the fund, which he said was the biggest source of climate finance.
“I encourage every sector within the economy to adopt the green initiative, including those specialising in agriculture, manufacturing, technology, automotives, engineering, and other upcoming Millennium Projects, among others, for future generations,” concluded the prime minister.
Investment
UNDP Resident Representative Rose K. Ssebatindira also added that capitalising on green investment opportunities, and mobilising green financing, were essential to realising both the 2030 Agenda and the Paris Agreement. She said with support from various development partners, UNDP was honoured to partner with the Kingdom of Eswatini on a variety of flagship pipeline initiatives to the tune of USD 35 million (about E600 million) aimed at reducing emissions.