Events
Constructing Critical Pathways for Just Transition Financing: A View from the Global South Climate Justice Advocates
About the Event
In the absence of radically scaling up multilateral financing mechanisms, the dominant approach to climate finance remains in place. This approach is encapsulated in South Africa’s Just Energy Transaction Partnership (JETP) agreed between the government and an International Partners Group (IPG) aimed at supporting countries in energy transitions and associated social and economic impacts. The deal prioritises commercial and concessional loans over grants with a strong bias towards supporting mitigation measures and infrastructure development with limited focus on economic diversification and social provisioning. Importantly, the JETP Investment Plan forms part of the current shift in international development finance towards using public finance as catalytic capital to mobilise private finance, such as through ‘blending’ and ‘derisking’ financial instruments. This entails the state assuming much of the risks of investment, whether through sovereign guarantees or guaranteeing private sector projects substantial returns. The Institute for Economic Justice, along with partners has been heavily involved in shaping positions that are critical to the status quo and also shaping positions that construct critical pathways for just transition financing. This discussion will outline these contestations.
About the Speaker
Dr Basani Baloyi is a Warwick Institute of Advanced Study (IAS) Visiting Fellow based at the GLOBE Centre. She is Programme Co-Director at the Institute for Economic Justice, South Africa. In this role, she drives innovative work on industrial policy, green transitions and development finance, with a focus on socio-economic justice in the Global South. Dr Baloyi is a co-editor of The Evolving Structure of South Africa’s Economy (2023), and author of papers and policy briefs on the South African political economy and climate finance.
Lunch will be provided. Email globe@warwick.ac.uk if you have dietary requirements.
This event is organised by the GLOBE Centre and the Institute for Global Sustainable Development (IGSD).