Project launched to define role of finance in South Africa and India’s ‘just transitions’
A new multi-partner initiative has been launched with the aim of defining the role that finance can and should play in supporting both South Africa and India’s aspirations to implement “just transitions” to more climate-resilient economies.
The ‘Just Transition Finance Roadmaps in South Africa and India Project’ is being backed by the UK’s development finance institution, the CDC Group, in partnership with Trade & Industrial Policy Strategies and the National Business Initiative, of South Africa, as well as the Observer Research Foundation, LSE Grantham Research Institute on Climate Change and the Environment, the Harvard Kennedy School’s Initiative for Responsible Investment and the National Institute of Public Finance and Policy.
The partners all agreed that finance could play a critical role in supporting just transitions and that by developing finance roadmaps for India and South Africa, banks and other financiers could be guided as to where future investment was required and how finance could be mobilised to maximise the social and economic benefits of those investments.
The partners aimed to identify “real world” just-transition opportunities in both countries during 2021, which could be showcased at the upcoming climate negotiations, which are scheduled to take place in Glasgow, Scotland, in November.
