Online Reporter
Sunday News Reporter
THE National Railways of Zimbabwe Contributory Pension Fund (NRZCPF) is set to embark on a pioneering rooftop solar photovoltaic (PV) project, marking a significant milestone in the fund’s commitment to sustainable development and environmental responsibility.
The initiative, developed under the Gold Standard for the Global Goals (GS4GG), aims to convert selected NRZCPF-owned buildings across the country into sources of renewable energy, thereby reducing reliance on the national grid and fossil fuels.
In a statement, NRZCPF Chief Executive Officer, Mrs Chipo Grace Hlabangana, expressed her enthusiasm for the project, emphasising its multifaceted benefits.
“This is a ground-breaking step for the fund and a model for other institutional investors in Zimbabwe. By harnessing solar energy, we not only aim to lower operational costs and generate verified carbon credits but also to contribute meaningfully to global efforts in combating climate change. Our goal is to create a sustainable financial model that benefits our pensioners while supporting national and international climate goals,” she said.
She highlighted that with the project, NRZCPF aims to produce renewable electricity on-site, significantly cut greenhouse gas emissions and generate certified carbon credits following GS4GG methodology. It also seeks to reduce operational costs across the fund’s property portfolio, thereby freeing up more resources to enhance pension pay-outs.
The initiative also aligns with broader development priorities, fostering job creation, local capacity building and the promotion of clean energy.
A key feature of the project is the upcoming Local Stakeholder Consultation (LSC), scheduled for the first week of March in Harare that is expected to provide a platform for transparency and engagement, inviting local communities, tenants, regulatory bodies, civil society and other stakeholders to learn about the technical, environmental and social dimensions of the project.
She said participants will have the opportunity to evaluate expected impacts such as energy generation, emissions reductions and potential revenues from carbon credits. They can also voice concerns, offer suggestions or propose mitigation measures related to the project’s social, economic or environmental implications.
“All feedback will be recorded and incorporated into the Stakeholder Consultation Report, a mandatory document under GS4GG guidelines, which will demonstrate how stakeholder input has influenced project planning and mitigation strategies,” she added.
Mrs Hlabangana highlighted the strategic importance of the project, noting that beyond its positive environmental impact, it is a financial innovation that will bolster the fund’s sustainability.
“Reducing energy and maintenance costs across our properties will improve operational efficiency and enable us to redirect resources towards better pension outcomes. The generation of carbon credits also opens up a new revenue stream that will strengthen our long-term financial stability and demonstrate our leadership in responsible investment,” she said.
This initiative by NRZCPF is poised to set a precedent for environmentally conscious investments within Zimbabwe’s pension sector, reflecting a forward-thinking approach that balances fiduciary duty with the urgent need for climate action.
