This presentation was delivered as part of the Workshop on Advancing Just and Equitable Energy Transition: Legal, Policy, and Financial Dimensions for Developing Countries, held in Jakarta, Indonesia, on 11 February 2026. The public dialogue brought together Indonesian civil society organisations, policymakers, journalists, and other stakeholders to examine domestic and international approaches to financing a just transition, with a focus on lessons from South Africa.
A people-centred just transition
The presentation frames a just transition as a people-centred process of deep structural transformation that advances climate resilience, green growth, and social justice. It critiques South Africa’s current Just Transition Investment Plan (JET-IP) for its narrow energy focus and reliance on private and international finance, arguing that this can prioritise profit over the needs of workers and communities.
Supporting workers and communities
The proposed approach centres workers and people through employment creation, skills development, relocation support, decent work packages, and stronger social protection, including consideration of a basic income grant. It also calls for equitable access to land, water, and energy, while addressing poverty, inequality, and unemployment.
Financing the transition
The presentation challenges South Africa’s austerity-oriented fiscal framework and reliance on private finance. It proposes redirecting fossil-fuel and environmental taxes towards climate investment, pursuing debt relief and restructuring, and reducing losses from corruption and inefficient spending. Public finance should play a leading role in mobilising resources for the transition.
Reforming monetary and financial policy
Recommendations include aligning central bank mandates with green transformation, developing green finance taxonomies, strengthening emissions and transition-plan disclosures, and regulating all financial actors to prevent regulatory arbitrage. Credit policies could incentivise green investment through differentiated capital requirements and favourable financing for transition-aligned projects.
Strengthening development finance
Development Finance Institutions (DFIs) are identified as critical providers of patient capital for projects that private finance may overlook. The presentation calls for greater scrutiny of DFI governance, capital sources, and lending practices to ensure they support worker-centred and climate-aligned development.
Conclusion
The presentation concludes that financing a just transition requires democratic, public-interest-oriented finance that goes beyond the JETP framework. By aligning fiscal, monetary, industrial, and financial policies with social and climate objectives, developing countries can pursue equitable, resilient, and sustainable growth.