Donors grant SA funds for investment in green economy policies

The Open Society Foundations, a global private grant-making network, has announced its commitment to allocate $400m (R7.2bn) over eight years to support economic and climate prosperity in six developing countries, including SA.

The programme’s first grants, which will help support civil society organisations and independent economic think-tanks working on policy issues in SA, Brazil, Mexico, Senegal, Malaysia and Indonesia, are expected to be made later in 2024.

Binaifer Nowrojee, president of Open Society Foundations, said: “The economic system is failing developing countries. It stops them from being able to grow economically and fight climate change at the same time. We need new ideas to create fairer, more just societies.”

The initiative will support green and equitable economic agendas that aim to create jobs and reduce inequalities in developing countries. It will also explore the effect of international taxation and financing on developing countries’ investment in green initiatives.

Laura Carvalho, director of economic and climate prosperity at Open Society Foundations, who is based in Rio de Janeiro, said: “Developing countries are constrained by top-down international systems that enforce climate change agendas at the expense of prosperity. We will encourage and promote new models of green economic growth that are shaped by the global south.”

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