30 x 30 South Africa (IFC-606039)

  • Africa
Geographic location where the impacts of the investment may be experienced.
  • South Africa
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
  • Agriculture and Forestry
  • Climate and Environment
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 3.96 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 3.96 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Feb 5, 2024

Disclosed by Bank Jan 23, 2024

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the IFC, while the program interventions are interlinked, since they all contribute towards a similar goal of increasing climate finance and decreasing financed emissions, they can be divided into 4 separate components. The World Bank program will also deliver a 5th in collaboration with the program.

1.Component 1 - Climate risk management and pricing by regulators (WB):
This component is not a deliverable of the IFC program but will be achieved by the World Bank through their collaborative input.

1. Component 1 - Climate risk management and pricing by regulators (WB):
The Prudential Authority and the South African Reserve Bank (SARB) are both members National Treasury Climate Risk Forum Steering Committee that is hosted by the Banking Association of South Africa (BASA) and chaired by National Treasury. The SARB chairs the climate risk working group which is developing a benchmark climate risk scenario for use in stress tests by the sector, starting with insurance companies and banks. Further details of the work of the Committee are contained in the Problem Statement.

2.Component 2 - Climate thematic bond development, pension fund capacity building and climate financing through financial instruments (IFC-FIG): 30 by 30 SA's work with the capital market and other investors will focus on the following areas, with an overall objective of increasing the issuance of climate thematic bonds as well as other climate themed financing.

3.Component 3 - Growing low-carbon and climate resilient financing through the development of credible pipelines and products with participating banks (IFC).

4. Component 4 - Climate smart and resilient action plans in South Africa’s agricultural sector (IFC-CBD).

5. Component 5 - Project coordination and knowledge sharing in and outside South Africa.

Scaling Up Climate Finance through Greening the Financial Sector ("30 by30 zero" or the "Program") is an IFC-led global program in collaboration with the World Bank (WB). The main objective of the IFC Program is to scale up private sector climate financing whilst the WB, through its collaborative activities from its separate program will assist financial regulators (SARB/ PA) to understand and mitigate climate related financial risks faced by financial institutions. In South Africa the program aims: i) to increase the green/climate portfolio share of participating banks from approximately 2% to 3.5% share of total portfolios, by the end of 2027 (equivalent to a growth in the outstanding climate finance loan portfolio of participating banks of $3.7b). ii) to facilitate at least $600 million climate investments by IFC with banks in South Africa by 2027 iii) to facilitate at least $200 million raised through climate thematic bonds issuance or other climate financing instruments by 2027

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
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No project contacts provided at the time of disclosure.


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