Transforming Financial Systems for Climate
The South African edition of the TFSC was launched in 2021, following a pre-feasibility study conducted in 2020 in consultation with the main banks in South Africa ("Climate Finance Feasibility Study: Eligibility Framework", 2020). In the South African context, the pre-feasibility study identified four investment categories to be prioritized from the exhaustive list of TFSC Minimum Generic Technical and Sectoral Criteria, together with detailed specific sub-project technical eligibility criteria for each of these investment categories, namely:
- Green housing
- Renewable energy
- Energy efficiency
- Water efficiency
TFSC South Africa main program objectives:
- Financing of innovative climate-related sub-projects and technologies across various investment categories
- Finance climate adaptation sub-projects amounting to at least 40% of the credit facility (on a best efforts basis by LFPInvestec)
- Expand the role of South African financial institutions in supporting climate-smart investments and guide them in strengthening and deploying their climate finance ambitions
The target beneficiaries of this green finance program are private sector companies, cooperatives, individuals, public entities and municipalities.
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