In this webinar the discussants present work on the sustainability and climate breakdown that highlights an ‘interregnum’ – the tense, uncertain period where old systems are dying but hold firmly to power, while new systems struggle to emerge as dominant. During such transition periods, what role exists for the financial system? This talk contributes to this question by introducing new theoretical perspectives and case work of how policymakers and financial intermediaries engaged in financing South Africa’s energy transition (1994 to 2019).