The EU Commission, through its plans for a capital markets union and sustainable finance action is working on this. Climate-related criteria should be better reflected in the key tools used for decision-making by market actors, such as benchmarks and credit ratings. Apart from the simple carbon footprint, we also need to look beyond that.
However, with the introduction of an effective regulatory framework, namely the Competition Act of 2003 that will guard against anti-competitive behaviour and restrain banking institutions from engaging in restrictive business practices, the Bank of Namibia recognised the broader mandate of the Competition Commission.