Policy approaches to guide finance flows for more effective climate action in South Africa.

Government’s approach indicates that significant shifts in finance are necessary, and the paper frames the challenge as a development and climate one: ‘Addressing both climate change and South Africa’s development agenda will require the reallocation of capital, the mobilisation of new financial resources and the strategic realignment of existing resources (public and private) over the short, medi. [...] However, National Treasury and the Department of Forestry, Fisheries and the Environment (DFFE), previously the Department of Environment, Forestry and Fisheries (DEFF),4 in the above-mentioned technical paper adopted the following definition of sustainable finance in South Africa: Sustainable finance encompasses financial models, products, markets and ethical practices to deliver resilience and l. [...] This step in the evolution and maturity of the market would rely on sufficient project cash flows to enable the packaging, and governance in the finance sector – starting with the green finance taxonomy. [...] Policy approaches to guide finance flows in South Africa 20 South African Reserve Bank iStock.com/LeRouxMinnaar CHAPTER THREE Broad estimates of finance needs and finance support given While the main focus of this case study is on policy interventions to shift finance flows, this needs to be understood in the context of the finance needs and the scale of international climate fi. [...] The energy transition in the transport sector only begins to have a significant impact in South Africa in the latter half of the 2020s, whereas the energy transition in the electricity is already underway, and the IRP 2019 envisages very large-scale investment in renewable energy.