Fundi Tshazibana: Financial policy in the era of the climate crisis - an African perspective
Address by Ms Fundi Tshazibana, Deputy Governor of the South African Reserve Bank, at the School of Oriental and African Studies, organised by the University of London, London, 15 October 2025.
The views expressed in this speech are those of the speaker and not the view of the BIS.
Good evening.
It is a great pleasure to be here at the School of Oriental and African Studies (SOAS). I would like to thank Vice-Chancellor Adam Habib and Provost Joanna Newman for their kind invitation.
Throughout its history, SOAS has nurtured leaders who are committed to tackling the systemic causes of social injustice and economic underdevelopment. This legacy is particularly visible in South Africa, where distinguished alumni include both our serving Minister of Finance and the Governor of the South African Reserve Bank (SARB).
Today, the call for such leadership is especially urgent as we confront the challenges of climate change.
While my main focus will be on the issues we face in South Africa, it is important to note that climate change creates similar challenges across other African countries. This year, under our Group of Twenty (G20) Presidency, we have prioritised scaling up sustainable finance to address Africa's key development challenges. The Sustainable Finance Working Group is actively developing recommendations to strengthen the global financial architecture, boost financing for climate adaptation, and unlock the potential of carbon credit markets. This focus has also been mirrored in other G20 groups.
South Africa is leveraging its leadership role to forge the global partnerships necessary to dismantle financial barriers to climate action. In this regard, we have partnered with institutions such as the African Development Bank, the Network for Greening the Financial System (NGFS), the International Association for Insurance Supervisors, the World Bank, and the Organisation for Economic Co-operation and Development, among others.