South Africa stands to be at the center of the Global South’s just transition planning as the historic Just Energy Transition Partnership (JETP) and Just Energy Transition Investment Plan (JET-IP), published on 4 November 2022 and launched this week at COP27, are likely to set a precedent for similar investment plans.
In this Policy Brief we explain the logic that underpins the climate-finance deal. This deal is geared towards supporting private profits while saddling the state with unnecessary risk, further debt, and limiting the local development of renewable energy value chains. The Policy Brief:
- Explains the negative implications of a de-risking climate-financing regime, using blended finance and public-private partnerships (PPPs), on a just energy transition.
- Outlines alternative climate-financing pathways that can support a just energy transition.