Working for development finance institutions that operate transparently and for climate justice
Fair Finance Southern Africa is a civil society coalition working towards ensuring Development Finance Institutions invest in a socially and environmentally responsible manner in South Africa and Africa. The coalition focuses on issues of climate change and transparency.
South African Development Finance Institutions (DFIs) and DFIs operating in South Africa include the African Development Bank (AfDB), Development Bank of Southern Africa (DBSA), Export Credit Insurance Corporation (ECIC), Industrial Development Corporation (IDC), and New Development Bank (NDB).
These DFIs have broad mandates to fund development projects, however the way they make funding decisions is not transparent, and their policies and procedures trail many of those of their international peers, as highlighted by this study by Fair Finance member the Centre for Environmental Rights in 2020. Africa is one of the most unequal continents in the world, and as such, the role of DFIs is incredibly important to bring about true development.
DFIs have traditionally operated without much oversight, whether from parliament or civil society. A number of civil society organisations have sought to change that recently, and the Fair Finance Coalition brings many of these organisations together to improve transparency and accountability of these institutions and importantly their financing practices.
Using the Fair Finance Methodology, we assess, report on, and campaign for more responsible investment policies and practices, and increased transparency, accountability and corporate responsibility from Development Finance Institutions.
These assessments cover themes of:
“Financing Fairly 2022: Are Public Finance Institutions in Southern Africa financing the Climate crisis?”
Members of the Fair Finance Coalition of Southern Africa are preparing to host a side event at COP27 on the 10th of November. At the side event, we will launch the findings of a second policy assessment report on six Public Finance Institutions in Africa, including the African Develoment Bank of Southern Africa. The policy assessment rates PFIs on transparency and accountability, climate response performance and new power generation.
Press the “Play” button then to watch Live.
Download the 2023 policy assessment here: Assessing the Sustainability of Investment Policies for Development Finance Institutions in Southern Africa.
On the 22nd of October, the Fair Finance Coalition Southern Africa hosted a Town Hall on Climate Finance, and the Just Energy Transition Partnership (Jet-P). The first of its kind event was attended by over 50 people in person, and more online. Speakers included a Presidential Climate Commissioner, and community members who covered the basics of climate finance, what is needed for the transition in the Southern African context, and experiences from communities.
On 27 February, the Fair Finance Coalition of Southern Africa held a media briefing on the JET-IP in Johannesburg. The FFCSA strongly urges the Presidential Climate Commission to increase the participation of affected communities, and transparency.
Climate Finance & JETP Townhall - Wrap
Climate Finance 101- Neoka Naidoo
What does a just transition mean to you: Community Voices
Guiding Principles for Climate Finance
Fair Finance International
Fair Finance International (FFI) is an international civil society network of over 100 CSO partners and allies, initiated by Oxfam Novib, that seeks to strengthen the commitment of banks and other financial institutions to social, environmental and human rights standards in 15 countries.
As a global network we use a rigorous methodology to assess, report on, and campaign for more responsible investment policies & practices. By benchmarking the investment policies and practices of financial institutions in critical areas such as human rights and climate impact, we enable consumers and citizens to demand more socially responsible, fair, and sustainable investments.
FFI builds on a pioneering model developed in the Netherlands since 2009, followed by a similar initiative in Brazil in 2011, which demonstrated the potential for bringing about positive change in the ways the financial sector invests.