The lack of economic diversity in such places exacerbates the social and environmental vulnerabilities and escalates the cost and severity of the transition. [...] The structural bias of the South African financial sector towards large business, at the expense of enabling equitable and timely access to finance for the most vulnerable is one of the greatest risks of catalysing a just transition in South Africa. [...] The role of such a facility is to preserve the just transition portfolio, reduce governance and transaction costs and ensure public and private finance institutions can better absorb the investment needs of just transition projects, while managing the transition risk and pace in South Africa. [...] Issues of socio economic and environmental risk and opportunity in South Africa need to be honestly framed and collectively the multiple financing actors in the global and domestic eco-system need to begin to experiment at scale regarding both the mobilisation and deployment of just transition finance. [...] · Linked to these signals is the need for framing the depth and breadth of the challenges of achieving a just transition (given South Africa’s development history and trajectory since 1994) – such framing may then trigger the design of contributions and innovations commensurate with the scale of South Africa’s just transition challenge.
- Pages
- 36
- Published in
- South Africa
