Work showcase

On the 29th of May 2024 South Africans will be heading to the polls to vote in the country’s seventh National and Provincial Democratic Elections. As an organisation dedicated to helping build a just and inclusive financial ecosystem that serves the needs of sustainability, climate, and biodiversity, we have reviewed the manifestos of the key political parties in the upcoming election, drawing out commitments made around climate action, environmental protection, and the financial sector.

The draft Just Transition Financing Mechanism (JTFM) was opened to public comment in December of 2023. This letter serves as Rabia Transitions input on the JTFM. It analyses and critiques key aspects of the JTFM and the broader financial ecosystem in which it will be embedded, covering governance and transparency, the current scope of the JTFM, the benchmarking, the broader systemic change that is needed, and the instruments and sources of finance identified in the JTFM.

The report considers the interplay between equity and Article 2.1(c) of the Paris Agreement through the lens of three examples: the Race to Zero; the Global Shield of the (V20); and the JETPs. The key findings are: (i) Assessing progress on Article 2.1(c) requires an equity-centred approach to finance flows that accounts for the disruptive nature of transitions; (ii) Consistency of finance flows requires an approach that embeds rights-, principles-and needs-based and people-centred financing dimensions; (iii) Finance flows must explicitly adopt the principle of CBDR-RC as the basis for action.

Read more about this paper.