South Africa's National Treasury is exploring regulations to encourage the use of financial instruments to tackle climate change, including catastrophe bonds and parametric insurance, according to a report by Bloomberg.
“We are looking at how best we can get investors into the room, how do we make investors more comfortable and confident,” Mr Kolisang Molukanele, a senior economist at the Treasury, said at a meeting convened by the Presidential Climate Commission on 18 October. “We are keeping abreast of any new financial mechanism that could be used.”
South Africa has announced plans to set up a climate-change response fund by March and is seeking private investment for that.
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