In January 2017, South Africa’s National Treasury convened a Working Group of financial sector regulatory agencies and industry associations to develop a framework document on sustainable finance.
The Working Group will publish a paper in 2018 that:
- Defines sustainable finance for a South African context.
- Incorporates perspectives from all parts of the financial sector, including banking, pension funds, insurance, asset management and capital markets.
- Describes the global and national drivers for sustainable finance, as well as existing industry initiatives.
- Maps supply and demand for, as well as barriers to, sustainable finance.
- Provides recommendations on a national strategic approach and the role of regulatory agencies and industry stakeholders.
Working Group members represent the following organisations:
- National Treasury (Chair)
- South African Reserve Bank
- Financial Services Board
- Banking Association South Africa (BASA)
- Council of Retirement Funds for South Africa (Batseta)
- Association for Savings and Investment South Africa (ASISA)
- South African Insurance Association (SAIA)
- Johannesburg Stock Exchange (JSE)
The initiative is supported by IFC, part of the World Bank Group, in partnership with the Swiss State Secretariat for Economic Affairs (SECO).