Investment Platforms and Ecosystem Building (Part One)

Following an earlier write-up on the shift in the African Climate Foundation’s strategy, Saliem Fakir takes a deeper dive into the Foundation’s country investment platforms approach. He highlights how this approach will hardwire climate pathways to climate investments in new clean technology and deal with climate-associated risks, ultimately securing more tangible and visible outcomes in the selected African economies.

What progress has the ACF made in implementing country platforms and connecting climate issues with economic needs?

Our approach has already gained significant traction. We are proud that we are working on the ground, and learning enormously from our efforts in countries like South Africa, Senegal, Nigeria, Malawi, and Zambia. Over the past four years, we have evolved from the initial phase of experimenting with different approaches, placing grant investments in advocacy and realised that we have had better outcomes for grant investments that connect climate issues to real economy solutions. I must admit though doing things in real-life does not guarantee success and it is much easier to write a policy report than do the real thing. There must not be a misunderstanding, all we are doing is taking the conventional course of action (policy advocacy, campaigns, grassroots mobilisation, etc) instead of just hoping that policy advocacy must wait for someone to do it, we must help do it. We must have skin in the game as they say.

How has the ACF’s experience with the Just Energy Transition (JET) in South Africa inform this approach?

From our experience with the JET in South Africa, it’s evident that creating momentum around a package of implementable investment initiatives, backed by the right supportive funding, can accelerate reforms rather waiting for them to be solved first before moving forward. The investment platform model also accelerates reform processes that might otherwise languish, stuck in endless deliberations without concrete action. As we can see with the JETP, it has mobilised an array of actors -from government, business, international funders, CSOs, labour unions, grassroots organisations and so on. It has sharpened the focus by putting something real on the table and generating a creative energy – in support, critical or against. It’s the philosophy of the idea that matters. Inject real energy into the system not hot air.

What is the ACF’s challenge in balancing policy research with practical investments?

As a Foundation, our challenge lies in balancing our support for policy think-tanks and researchers – who provide insightful analyses and articulate the issues well – and there is a need to foster such work, getting our partners to be more implementation orientated. While it is crucial, we must also focus on solving the hard problems that need to be addressed.  This is why we’ve developed the idea of investment platforms, which match policy analysts and researchers with practical challenges, driven by individuals skilled in working on these investments. This complementary relationship is central to our approach.

What role do activists and campaigners play within this ecosystem – if any?

Activists and campaigners definitely have a role within this ecosystem. We need to create spaces where they can connect with these issues, inform the public about actionable choices, and convey the truth about the challenges we face. Our comprehensive approach to climate and economic development aims to bridge the gap between intellectual work and real-world applications. We see this ccollaborative ecosystem as part of the ACF’s vision to create a living laboratory for implementing practical economic and climate solutions.

Our framework for the climate-development nexus, enabled by our related investment platforms, represents a profound opportunity. We aim to ensure the interconnection between policies, research, advocacy, and investment-driven changes that yield real outcomes in the economy. We believe that the African continent is the ideal place to test and develop this new model of philanthropy.

Walter Lippmann, in his book Public Opinion, discussed the role of experts in policy and public decision-making. He noted that social scientists often propose policy ideas without fully understanding the experiences of practitioners. While we acknowledge this divide, we believe it is crucial to foster virtuous interlinkages between the actions of social scientists, campaigners, policy thinkers, and practitioners. Our goal is to create collaborative circuit that avoids the disconnect often seen between policy ideas and real-world applications.

Are you exploring the domain of the solidarity economy and engaging with non-traditional sectors?

Absolutely, we do not need to limit our work to government and the business sector. We are exploring the domain of the solidarity economy, as evident by our efforts with the New Economy Hub. Policy work can sometimes resemble a soap opera, amplified by social media into soundbites and theatre. True policy, however, happens in the process of change, not just at conferences or global events. Our focus is on connecting climate solutions with the economic needs of the continent through diverse approaches tailored to each country’s unique political and economic context.

We will expand on this concept of a solidarity economy not just solidarity campaigns and advocacy in due course – what is important is translating voice and using the momentum of voice to in place real change and investment platforms are a tool for that.

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