CRISPIAN OLVER: Country platforms are SA’s opportunity to lead in climate finance

COP29, held in Baku, Azerbaijan, in November, marked a defining moment in global climate finance. The adoption of the new collective quantified goal set a target of mobilising $1.3-trillion annually for climate action by 2035, including $300bn in public finance.

While the outcome fell short of what developing countries had hoped for, it signalled a renewed commitment to scale up climate finance and address the climate crisis. More importantly, it provided a framework for leveraging diverse resources — grants, concessional loans, private investments and domestic financing — to drive transformative action. A question now is: how can these commitments be translated into concrete action on the ground? 

Country platforms are a potentially powerful yet underutilised mechanism for mobilising resources and aligning them with national priorities. These nationally led frameworks are designed to bring together governments, donors and finance institutions around a shared vision and programme. SA, already a trailblazer in this space with its Just Energy Transition Partnership (JETP), now has an opportunity to build on this success by developing an adaptation and resilience investment plan. This would address some of the country’s most pressing climate challenges while unlocking additional international and domestic financing. The upcoming Group of 20 (G20) meetings in SA present an ideal context to launch such a plan, showcasing the country’s leadership on the global climate stage. 

At their core, country platforms are mechanisms for mobilising and co-ordinating resources to address specific climate and development goals. They are not merely about pooling funds; they are about creating a shared vision and framework for action. Platforms align national strategies with international commitments, leveraging public, private and concessional finance to drive systemic change. 

Originally conceived to improve aid effectiveness in the development sector, country platforms have evolved significantly. Early platforms focused on harmonising donor efforts in health and education, with initiatives such as the Global Fund to Fight Aids, TB & Malaria serving as notable examples. Over time, the concept expanded to infrastructure and economic development projects, emphasising programmatic approaches over fragmented interventions. 

The shift towards climate-focused platforms began under the G20 Saudi presidency in 2020. These platforms were reimagined to address energy transitions, combining large-scale finance with systemic reforms. The JETP launched at COP26 in Glasgow showcased the potential of this approach, with SA leading the way. 

Successful platforms  

Country platforms have proved their worth in multiple ways. They have triggered detailed planning, mobilised diverse resources and laid the basis for ambitious climate action. Egypt’s Nexus of Water, Food & Energy (NWFE) programme is one example. Launched at COP27, this platform integrates climate mitigation and adaptation across critical sectors, mobilising international grants and concessional finance to fund desalination, efficient irrigation and renewable-powered agriculture. By aligning these initiatives with Egypt’s development goals, the NWFE programme has created a model for integrated, multisectoral action. 

Brazil offers another compelling example. Its Climate & Ecological Transformation Investment Platform, launched at the end of 2024, focuses on protecting the Amazon, promoting sustainable agriculture and investing in renewable energy. By integrating economic and ecological objectives Brazil has demonstrated how platforms can deliver co-benefits across sectors. 

SA’s JETP has been similarly transformative. It set out detailed road maps for upgrading the electricity grid, ramping up renewable energy and battery deployment, decommissioning coal and providing social support for affected communities. By blending grants, concessional loans and private investments, the JETP has mobilised $8.5bn while fostering a collaborative approach among the government, labour unions and civil society. Indonesia’s JETP, which secured $20bn, further illustrates how platforms can leverage blended finance models to accelerate decarbonisation and social equity. 

Despite their successes, country platforms are not without challenges. One of the most significant is their complexity. Co-ordinating multiple stakeholders — governments, donors, private investors and civil society — requires time, resources and skilled management. The result is often high transaction costs, which can strain institutional capacities, particularly in low-capacity countries. 

Another issue is the slow pace of tangible outcomes. Large-scale projects require extensive planning, approvals and implementation timelines, leading to delays in delivering visible results. Decarbonisation and energy policy have often been at loggerheads. This can undermine confidence in the platform’s effectiveness. 

Perhaps the most critical concern is the question of ownership. While platforms are designed to be country-led, this has been a contested terrain. In some cases donor priorities dominate, allowing platforms to become vehicles for external agendas rather than tools for national development. Ensuring genuine ownership requires aligning platforms with national priorities and empowering countries to lead from the outset. 

Next generation 

Many developing countries, particularly in Africa and small island states, have indicated their interest in pursuing their own platforms. The next generation of country platforms must address these challenges while building on the successes of earlier models. Countries need quick start funds to conduct feasibility studies, design investment strategies, engage stakeholders, and establish governance frameworks.

Early investment reduces reliance on external control and empowers countries to set their own agendas. Simplifying governance mechanisms and reducing transaction costs can enable platforms to focus on implementation rather than administrative burdens. 

South-South collaboration is key. Platforms such as the upcoming Country Platform Exchange in Cape Town (February 24-25) provide opportunities for countries to learn from each other. By sharing innovations and lessons, countries can co-develop solutions and strengthen their platforms. The event, hosted by the presidential climate commission, Just Energy Transition Project Management Unit in the presidency, and the Development Bank of Southern Africa (DBSA), will bring together representatives from governments, multilateral development banks, development finance institutions, philanthropies and the private sector to explore how platforms can be scaled and integrated into the broader climate finance agenda. 

SA’s vulnerability to climate change makes adaptation a critical priority. Building on its experience with the JETP there is an opportunity to expand this to adaptation and biodiversity sectors. Investment priorities could include water security, climate-smart agriculture, urban resilience and disaster preparedness. Robust technical work on investment requirements has already been conducted by key institutions, including the departments of water & sanitation, and forestry, fisheries & environment, the National Treasury, DBSA, National Planning Commission and presidential climate commission. An adaptation and resilience investment plan would not only address SA’s adaptation needs but also complement the JETP by focusing on resilience and enhancing the country’s ability to attract international and domestic financing. 

Adaptation platforms require innovative financing strategies. Unlike energy projects, adaptation initiatives often lack direct revenue streams, necessitating greater reliance on grants and concessional finance. However, blending public and private finance and using tools such as green bonds and guarantees can unlock additional resources. The new collective quantified goal’s emphasis on risk-sharing mechanisms aligns well with SA’s needs, offering opportunities to attract international and domestic investment. 

Country platforms offer a useful model to operationalise global climate finance commitments, aligning domestic and global resources with national priorities. For SA, the stakes could not be higher. Developing an adaptation and resilience investment plan would address urgent climate challenges while complementing the JETP. More importantly, it would position SA as a global leader in climate finance, setting an example for other nations to follow.

The upcoming G20 meetings in SA provide an ideal platform to launch this initiative, showcasing how country platforms can drive ambitious climate action and sustainable development. 

• Olver is deputy chair of the presidential climate commission.