Namibia's revised commitment to addressing climate change through mitigation and adaptation requires about N$270 billion to be executed by 2030.

This information was disclosed during the Environmental Investment Fund stakeholders' conference held in Windhoek.

The Chief Executive Officer of the Environmental Investment Fund, Benedict Libanda, says multilateral strategic dialogue will be needed to attract such a fund to Namibia.

Libanbda also revealed that, among the funds, it is also working towards upgrading its accreditation category with the Green Climate Fund so it can access funding on a larger scale.

"We are working on upgrading our accreditation category to GCF so that we can access funding at scale. At the moment, we are only accredited for N$10 million per project, but within this, we will be accredited for N$50 million. Still, with the GCF, we are developing two concepts and two proposals to the tune of N$400 million to be submitted to the GCF for funding in the areas of marine, ecosystem and adaptation, and urban sustainable agriculture."

EIF's Board member, Desiree Pieters, said the fund has made great strides since its inception six years ago.

She says the fund has been able to raise N$3.5 billion for community-based and individual grants, put over 240,000 hectares of land under conservation, created more than 950 employment opportunities, constructed and rehabilitated 179 boreholes, and benefited 230,000 people directly and indirectly.

"Therefore, I call upon all the participants to play their roles and come on board to support the initiative. The discussion we have today should outline the country's efforts to promote sustainable development goals and the country's path towards a low carbon economy, which increases the resilience of its population."

The stakeholder engagement is held under the theme of Improving Climate Financing Scale Through Strategic Collaboration.