Public Disclosure Copy The World Bank Implementation Status & Results Report South Africa Partnership for Market Readiness (P155885) South Africa Partnership for Market Readiness (P155885) AFRICA | South Africa | Environment & Natural Resources Global Practice | Recipient Executed Activities | Investment Project Financing | FY 2017 | Seq No: 3 | ARCHIVED on 27-Jun-2018 | ISR32894 | Implementing Agencies: Republic of South Africa, National Treasury Key Dates Key Project Dates Bank Approval Date:21-Dec-2016 Effectiveness Date:03-Mar-2017 Planned Mid Term Review Date:01-Oct-2018 Actual Mid-Term Review Date:-- Original Closing Date:30-Jun-2020 Revised Closing Date:30-Jun-2020 Project Development Objectives Project Development Objective (from Project Appraisal Document) The Project Development Objective (PDO) is to strengthen the readiness of the government of South Africa for the design, preparation and implementation of a carbon pricing instrument. Has the Project Development Objective been changed since Board Approval of the Project Objective? No PHRPDODEL Components Name Supporting the refinement of the design of the carbon tax through analytical work:(Cost $0.75 M) Strengthening the capacity of the government to enhance data management and measurement, reporting and verification (MRV) systems:(Cost $2.47 M) Supporting the design of the carbon offset scheme:(Cost $3.00 M) Communication, stakeholder engagement and support to project administration:(Cost $0.78 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO  Satisfactory  Moderately Satisfactory Overall Implementation Progress (IP)  Satisfactory  Moderately Unsatisfactory Overall Risk Rating  Moderate  Moderate 6/27/2018 Page 1 of 6 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report South Africa Partnership for Market Readiness (P155885) Implementation Status and Key Decisions Although somewhat delayed due to a lack of familiarity with the Banks' systems and processes, the project is on track to achieve its development objective. The Grant Agreement for the South Africa Partnership for Market Readiness (PMR) Project became effective on March 3, 2017. The Project Manager was hired in April 2018. Due to technical reasons, project-financed activities and disbursement have been delayed. Counterpart-led activities have been underway: the Second Draft Carbon Tax Bill for introduction in Parliament was disclosed for public comment in December 2017. Convening of public hearings by Parliament were held in February 2018. Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance  Moderate  Moderate  Moderate Macroeconomic  Low  Low  Low Sector Strategies and Policies  Moderate  Moderate  Moderate Technical Design of Project or Program  Low  Low  Low Institutional Capacity for Implementation and Sustainability  Moderate  Moderate  Moderate Fiduciary  Low  Low  Low Environment and Social  Low  Low  Low Stakeholders  Substantial  Substantial  Substantial Other  --  --  -- Overall  Moderate  Moderate  Moderate Results Project Development Objective Indicators PHINDPDOTBL  Impacts of carbon pricing approach analyzed and modelled (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N -- -- Y Date 06-Mar-2017 -- -- 30-Jun-2020 6/27/2018 Page 2 of 6 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report South Africa Partnership for Market Readiness (P155885) PHINDPDOTBL  Satisfaction by main stakeholders with engagement on impacts and implementation of carbon pricing (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- -- 75.00 Date 06-Mar-2017 -- -- 30-Jun-2020 PHINDPDOTBL  Carbon offset scheme designed according to defined criteria and approved by the National Treasury (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N -- -- Y Date 06-Mar-2017 -- -- 30-Jun-2020 PHINDPDOTBL  Share of targeted entities that report GHG emissions to the Government in accordance with the relevant monitoring and reporting protocols (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- -- 75.00 Date 06-Mar-2017 -- -- 30-Jun-2020 PHINDPDOTBL  Direct project beneficiaries, of which female (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- -- 250.00 Date 06-Mar-2017 -- -- 30-Jun-2020 Overall Comments Intermediate Results Indicators 6/27/2018 Page 3 of 6 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report South Africa Partnership for Market Readiness (P155885) PHINDIRITBL  Additional analysis and modelling of impacts of carbon pricing approach prepared by the National Treasury and validated with the main stakeholders (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N -- -- Y Date 06-Mar-2017 -- -- 30-Jun-2020 PHINDIRITBL  Monitoring and reporting protocol for GHG reporting by the targeted entities prepared and validated with the main stakeholders (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N -- -- Y Date 06-Mar-2017 -- -- 30-Jun-2020 PHINDIRITBL  Verification mechanism established for €GHG emissions monitoring and reporting system (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N -- -- Y Date 06-Mar-2017 -- -- 30-Jan-2020 PHINDIRITBL  Definition of the rules and procedures and technical guidelines for the carbon offset scheme by the Department of Energy (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N -- -- Y Date 06-Mar-2017 -- -- 30-Jun-2020 6/27/2018 Page 4 of 6 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report South Africa Partnership for Market Readiness (P155885) PHINDIRITBL  Functional registry to support the carbon offset scheme established by the Department of Energy (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N -- -- Y Date 06-Mar-2017 -- -- 30-Jun-2020 PHINDIRITBL  Stakeholder engagement plan prepared and implemented according to defined criteria (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N -- -- Y Date 06-Mar-2017 -- -- 30-Jun-2020 PHINDIRITBL  Training plan prepared and implemented according to defined criteria (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N -- -- Y Date 06-Mar-2017 -- -- 30-Jun-2020 Overall Comments Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed P155885 TF-A2970 Effective USD 5.00 5.00 0.00 0.00 5.00 0% Key Dates (by loan) 6/27/2018 Page 5 of 6 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report South Africa Partnership for Market Readiness (P155885) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P155885 TF-A2970 Effective 03-Mar-2017 03-Mar-2017 03-Mar-2017 30-Jun-2020 30-Jun-2020 Restructuring History There has been no restructuring to date. Related Project(s) There are no related projects. 6/27/2018 Page 6 of 6 Public Disclosure Copy