Assessing financial assurance instruments for climate change mitigation and adaptation: A comparative study of Zambia and South Africa

Abstract

This analysis compares financial assurance instruments for promoting sustainable mining practices in climate change mitigation and adaptation in Zambia and South Africa. The study explores how these instruments can help reduce environmental impacts from mining and improve climate adaptation. The research follows the PRISMA methodology, which reveals obstacles such as insufficient financial provision, limited monitoring, enforcement, and inconsistent regulations. The study highlights the need to strengthen regulatory frameworks, establish adequate financial provisions, improve monitoring and enforcement, engage stakeholders, share knowledge, and promote international collaboration to address these challenges. The recommendations aim to enhance the effectiveness of financial assurance instruments and encourage responsible mining, leading to a more sustainable mining sector, less environmental degradation, and significant contributions to global climate change mitigation efforts.