Resourcing and Climate Finance

Climate finance refers to local, national, or international financing mechanisms and fiscal flows drawn from public, private sources to address large-scale investments required to significantly reduce emissions as well as the significant financial resources for communities to adapt to the adverse effects and minimise the impacts of climate change.

In our endeavours to meet the aspirational targets contained in our Nationally Determined Contributions (NDCs), committed prior to COP26, it is imperative that the transition pathways are adequately funded and invested in.

Without resources, the presence of institutional consensus, individual action, and science-based planning and policy cannot deliver a just transition. The international and domestic capital markets, debt markets and development finance pools must be harnessed, structured, and blended to provide the financial capital for this challenging transformation

Our work will focus on supporting private sector and development finance institutions to understand mitigate climate risks, seize the market opportunities as part of the measures to align investment decisions with the mitigation and adaptation commitments of the Paris Agreement. The PCC is therefore committed to tracking, monitoring, and reporting on climate finance and just transition related climate finance flows; with the aim to identify barriers to scaling up finance across the policy environment, capital allocation and market gaps.

Furthermore, the PCC will within its mandate, lead the Just Transition programme in the country by exploring strategic options for scaling up transition and climate finance to contribute towards the achievement of South Africa’s NDC’s and Sustainable Development Goals.