The Green Fund aims to provide catalytic finance to facilitate investment in green initiatives that will support poverty reduction and job creation. Importantly, the Fund will only support initiatives which would not have been implemented without its support. The Green Fund is additional and complementary to existing fiscal allocations supporting the transitioning of the South African economy to a low-carbon, resource efficient and climate resilient growth path.
Due to its focus on innovative projects, unless a strong case is made for the coverage of a funding or financing gap, the Green Fund will not support such projects.
The Green Fund will respond to market weaknesses currently hampering South Africa’s transition to a green economy by:
- promoting innovative and high impact green programmes and projects
- reinforcing climate policy objectives through green interventions
- building an evidence base for the expansion of the green economy, and
- attracting additional resources to support South Africa’s green economy development.
