Investment Climate

Research has linked climate change and reproductive rights, as demonstrated by the increased exposure of women to sexual assault as they collect firewood or search for water. Such sexualized violence is prevalent in women-led rural households and highly vulnerable settings. For example, humanitarian contexts, slums, and arid areas have high rates of sexual violence due to water scarcity and poor lighting as women and adolescent girls travel long distances to access water. From an African socio-cultural context, fetching water and firewood are mainly feminine roles. Thus, energy distribution and water scarcity associated with climate change interact with gender dynamics to provide a setting for enacting sexualized violence. Freedom from sexual violence is an integral aspect of reproductive justice, a state where people have bodily autonomy and live in a safe and healthy environment that protects and upholds their reproductive rights and decisions. The question that arises is - can green projects, including the EU Green Deal, address climate change in a manner that addresses the associated sexual and reproductive justice issues in Sub-Saharan Africa?

In this contribution, we demonstrate how the so-called Green Deals initiatives which espouse an increasing drive to “catalyze” private financing by using public resources, including development assistance, may create perverse impacts on sustainable development in developing countries. The move may mean an overarching shift towards reliance on private sector to provide public infrastructure and services in ways that ensure a return for the private sector through buy-back guarantees and favourable contractual conditions. Such moves may create contingent liabilities on developing countries in addition to diverting public resources towards the private sector, including foreign investors, and undermining public oversight.

In this contribution, the author makes three claims. First, just transition interventions around the world are dominantly insular and ‘State-first’. The dominance of nationalist just transition policy making is evident in the America-first emphasis of the US Inflation Reduction Act (IRA) and the EU-first tilt of the European Green Deal (EGD). Second, the insular nature of just transition policies is hallmarking a new epoch of global injustice that, if not cauterized and dealt with early (if not already late), will become a major sphere of global inequality. Third, human and ecological wellbeing as an organizing principle, and differentiation as an implementation framework, will be key to any meaningful attempt to inject the ‘global’ into just transition.

The African Sovereign Debt Justice Network, (AfSDJN), is a coalition of citizens, scholars, civil society actors and church groups committed to exposing the adverse impact of unsustainable levels of African sovereign debt on the lives of ordinary citizens. Convened by Afronomicslaw.org with the support of Open Society for Southern Africa, (OSISA), the AfSDJN's activities are tailored around addressing the threats that sovereign debt poses for economic development, social cohesion and human rights in Africa. It advocates for debt cancellation, rescheduling and restructuring as well as increasing the accountability and responsibility of lenders and African governments about how sovereign debt is procured, spent and repaid.

The African Sovereign Debt Justice Network, (AfSDJN), is a coalition of citizens, scholars, civil society actors and church groups committed to exposing the adverse impact of unsustainable levels of African sovereign debt on the lives of ordinary citizens. Convened by Afronomicslaw.org with the support of Open Society for Southern Africa, (OSISA), the AfSDJN's activities are tailored around addressing the threats that sovereign debt poses for economic development, social cohesion and human rights in Africa. It advocates for debt cancellation, rescheduling and restructuring as well as increasing the accountability and responsibility of lenders and African governments about how sovereign debt is procured, spent and repaid.

The African Sovereign Debt Justice Network, (AfSDJN), is a coalition of citizens, scholars, civil society actors and church groups committed to exposing the adverse impact of unsustainable levels of African sovereign debt on the lives of ordinary citizens. Convened by Afronomicslaw.org with the support of Open Society for Southern Africa, (OSISA), the AfSDJN's activities are tailored around addressing the threats that sovereign debt poses for economic development, social cohesion and human rights in Africa. It advocates for debt cancellation, rescheduling and restructuring as well as increasing the accountability and responsibility of lenders and African governments about how sovereign debt is procured, spent and repaid.

Loss and damage support was one of the key demands of African states and other developing countries at the 27th meeting of the conference of parties to the United Nations Framework Convention on Climate Change (COP 27). On November 20, 2022, a deal on L&D funding was announced. The development has been described as a “breakthrough”, “historical”, and “landmark” agreement. This however raises important questions for developing countries. To what extent do these new initiatives worsen the indebtedness of developing countries, constrain their fiscal space, and generally make it more difficult for such countries to thrive?

November 7, 2022

Nigeria has stated its intention to complete ongoing rail projects across the country with multi-billion-dollar loans from financial institutions based in China, Portugal, and Turkey.