This paper contributes to the Just Transition Finance Roadmap Project led by Trade and Policy Industrial Strategies. Three questions are considered: (i) what are the financing needs of projects focused on just transitions? (ii) What financial instruments are available in South Africa to meet those needs? (iii) What do the findings imply for developing a Just Transition Finance Roadmap for South Africa? We conclude that just transition projects are regenerative and transformative in nature. To finance them requires a portfolio approach that does not “cherry-pick” investments to deliver a systemic and just impact.