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ORIENTATING FINANCE FOR OUR COMMON FUTURE
The Institute for Economic Justice (IEJ) advocates for increased finance from international financial institutions, multilateral development banks, and the G20 to support a green, inclusive, and just transition. The IEJ emphasizes the need for nationally-owned development strategies where the state leads investment, leveraging central banks and development finance institutions to encourage private capital. In South Africa, the IEJ has specifically critiqued the lack of transparency in IFI loan agreements, calling for parliamentary oversight to protect national sovereignty and human rights. Regarding climate finance, the IEJ argues that South Africa's Just Energy Transition Partnership (JET-P) should utilize risk-sharing arrangements in public-private partnerships that do not prioritize private profits over public goods. Additionally, the IEJ advocates for a human-rights-based approach to debt restructuring in the Global South, proposing that loans be provided on concessional terms with below-market-rate interest and long grace periods.
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Document type: Briefing