Published: Jan 2021
The South African Climate Finance report provides a detailed analysis of R62.2 billion of annual climate finance invested in the country for 2017 and 2018 to proceed towards a low-carbon and climate-resilient economy. South Africa's ambitious vision to address the risk of climate change has been emphasized in a range of national and sectoral policies, plans and strategies over the last two decades. One of the key challenges is the lack of climate finance data and analysis necessary to support national climate policy, mobilise public and private partnerships, and promote resilient economic growth. This report, published the UCT GSB Bertha Centre and GreenCape, in partnership with Climate Policy Initiative (CPI), developed a typology to gather detailed project level data of the sources, disbursement channels, instruments, sectors and uses of climate finance. The insights can support public and private role-players with information to shape sectoral strategies and selected policies and improve coherence and coordination between public and private level spending in the sectors. Some key highlights from the report include: The sources of finance tracked included public finance (~R22bn tracked), private finance (R35.3bn tracked) and blended finance (R4.9bn tracked), for 2017 and 2018. The end uses of the tracked climate finance included mitigation activities (81% of the finance tracked), adaptation activities (7% of the finance tracked) and dual benefit activities (13% of the finance tracked). Recommendations around the need for definitional clarity and tagging, improved coordination, increased support for blended finance as well as the need for increased clarity and consistency around regulation.