Mbabane – The financial sector has been urged to take a leading role in supporting Eswatini’s climate action initiatives.
Beverly Mavuso, Director of Financial Regulation at the Central Bank of Eswatini, made the call during the Financial Sector Consultation Workshop on the country’s Nationally Determined Contribution (NDC 3.0). The event was hosted by the Ministry of Tourism and Environmental Affairs and brought together commercial banks, insurers, pension funds, microfinance institutions, and other financial players.
“The financial sector is uniquely positioned to shape the future of climate action in Eswatini,” Mavuso said. She added that institutions could mobilise capital for renewable energy projects, sustainable agriculture, climate-resilient infrastructure, and other priority areas.
Mavuso encouraged the development of innovative financial products such as green bonds, climate insurance, and sustainability-linked instruments. “By promoting innovation in financial products, we can help the financial sector manage climate-related risks while unlocking new opportunities for investment in our Kingdom,” she said.
Representatives from the United Nations Development Programme (UNDP) and various financial institutions attended the workshop to provide input on supporting the country’s updated climate commitments.
Discussion about this post