The Just Transition Finance Roadmaps in South Africa and India Project has been launched to identify investment opportunities and define the role that finance plays in supporting an energy transition to cleaner fuels in both India and South Africa.
Supported by a multi-partner agreement, the initiative involves the development of finance roadmaps that seek to guide banks and other financiers on future investment opportunities to ensure that capital is mobilized in an economically sustainable manner.
The initiative is backed by the CDC Group, the U.K.’s development finance institution, in partnership with Trade & Industrial Policy Strategies and the National Business Initiative (NBI), 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 financial institutions need to both understand the opportunities and support them,” said Joanne Yawitch, CEO, NBI. “But without an understanding of what to invest in, who to partner with, what other enabling conditions will be needed, these opportunities will simply pass us by.”
“We know that we can play a role in mobilizing capital; we know that capital can play a role in helping to stimulate clean and inclusive growth and support a green recovery from COVID-19,” said Nick O’Donohoe, CEO, CDC Group. “We have decided that one of the things we can do is to catalyze attention on the just transition and that is why we are catalyzing the finance roadmap, starting initially with South Africa and India.”