UCL Institute for Innovation and Public Purpose


COP27 - Creating fiscal space and directed finance for climate and health goals

07 November 2022, 2:00 pm–4:00 pm

COP27 flyer

Join us for this COP27 panel discussion “When will leaders lead?” Creating fiscal space and directed finance for climate and health goals. Moderated by Professor Mariana Mazzucato, Founding Director of the UCL Institute for Innovation and Public Purpose. The session will include keynote remarks from Mia Amor Mottley, Prime Minister of Barbados and responses from Hala El Said, Minister of Planning and Economic Development for Egypt, Ngozi Okonjo-Iweala, Director-General of the World Trade Organization and Nicola Sturgeon, First Minister of Scotland.

This event is free.

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At COP26, Prime Minister Mottley called on “leaders to lead”. One year later, public and private investment is falling far short of what is needed to limit catastrophic global warming - the health, environmental and economic consequences of which will be disproportionally felt by vulnerable populations.

Closing this gap requires a radical redesign of global financial architecture, and a shift away from the dominant narrative that the government role is to de-risk and enable private sector investment. Instead, states must mobilise, direct and shape finance to align with climate and health goals. This panel will reflect on the changes needed in ideas, institutions, and policies to empower states with the fiscal space and tools to lead.

This is a free and open to public hybrid event taking place online and in-person in the Scottish Pavilion of the Multilevel Action Pavilion, Blue Zone, COP27 and on Zoom.

The event will take place on Monday 7 November 2022 at 14:00–16:00 (GMT) 16:00–18:00 (EEST).

About the Speakers

Prof Mariana Mazzucato

Professor in the Economics of Innovation and Public Value, Director, UCL Institute for Innovation and Public Purpose at UCL Institute for Innovation and Public Purpose

Mariana Mazzucato
Mariana Mazzucato (PhD) is Professor in the Economics of Innovation and Public Value at University College London (UCL), where she is Founding Director of the UCL Institute for Innovation & Public Purpose (IIPP). She is winner of international prizes including the Grande Ufficiale Ordine al Merito della Repubblica Italiana in 2021, Italy's highest civilian honour, the 2020 John von Neumann Award, the 2019 All European Academies Madame de Staël Prize for Cultural Values, and 2018 Leontief Prize for Advancing the Frontiers of Economic Thought. She was named as one of the '3 most important thinkers about innovation' by The New Republic, one of the 50 most creative people in business in 2020 by Fast Company, and one of the 25 leaders shaping the future of capitalism by WIRED.  
She is the author of three highly-acclaimed books: The Entrepreneurial State: Debunking Public vs. Private Sector Myths (2013), The Value of Everything: Making and Taking in the Global Economy (2018) and most recently Mission Economy: A Moonshot Guide to Changing Capitalism (2021). She advises policymakers around the world on innovation-led inclusive and sustainable growth. Her current roles include being Chair of the World Health Organization’s Economic Council on Health for All and a member of the South African President’s Economic Advisory Council, the Scottish Government’s Council of Economic Advisors, and the United Nations High-level Advisory Board (HLAB) on Economic and Social Affairs, among others. 
  More about Prof Mariana Mazzucato

Hala El Said

Minister of Planning and Economic Development for Egypt

Hala El Said
Dr. Hala H. Elsaid was sworn in as Egypt’s Minister of Planning and Economic Development on December 22, 2019.

Prior to this appointment, she served as the Minister of Planning, Monitoring and Administrative Reform between February 2017 and December 2019.

Dr. Elsaid who also serves as Chairman of Egypt’s Sovereign Wealth Fund is a prominent Economist and Academic Figure, recognized as the Best Arab Minister by the Arab Government Excellence Award in November 2020.

  More about Hala El Said

Mia Amor Mottley

Prime Minister of Barbados

Mia Amor Mottley
The Honourable Mia Amor Mottley, S.C., M.P., is the 8th Prime Minister of Barbados and leader of the Barbados Labour Party (BLP).

Born in Barbados on October 1, 1965, Prime Minister Mottley has spent the majority of her life in pursuit of developing a spirit of excellence for herself, for her country and for the Caribbean region.

Ms Mottley was re-elected as Prime Minister on May 24, 2018, after leading the BLP to a second consecutive clean sweep of a General Elections. Meanwhile, Ms Mottley continues to serve as Member of Parliament for St Michael North East, a seat she has held for eight consecutive terms since first securing it in 1994.

An established Attorney-at-Law and Queen’s Counsel who has been called to the Bar in England, Wales and Barbados, Ms Mottley has had an active and successful political life in Barbados for over three decades, becoming Barbados’ youngest ever Queen's Counsel, its first female Attorney General, the first female leader of the BLP and the Opposition, and the first female Prime Minister of Barbados.

Ms Mottley’s service to excellence has also been recognised internationally, being bestowed a number of honours including, the Order of Roraima, the Order of the Golden Heart of Kenya and being named one of Time Magazine's 100 most influential people of 2022.

Additionally, the Prime Minister has chaired a number of committees, and currently currently serves as, the Co-Chair of the WHO Global Leaders Group on Antimicrobial Resistance, Co-Chair of the Sustainable Development Goals Advocates group and Lead Head of Government within CARICOM, bearing responsibility for the CARICOM Single Market and Economy, among others.

With an unbridled love for all people, culture and the environment, Prime Minister Mottley
continues to work on behalf of Barbados and the Caribbean region. More about Mia Amor Mottley

Nicola Sturgeon

MSP for Glasgow Southside at The Scottish Parliament

Nicola Sturgeon

Nicola Sturgeon is Scotland's first female First Minister and the first woman to lead any of the devolved UK administrations.

Born in Irvine in 1970 and educated at Greenwood Academy, she studied law at the University of Glasgow where she graduated with LLB (Hons) and Diploma in legal practice.

Before entering the Scottish Parliament as a regional MSP for Glasgow in 1999 she worked as a solicitor in the Drumchapel Law and Money Advice Centre in Glasgow.

She is currently MSP for Glasgow Southside having been, before boundary changes, MSP for Govan between 2007 and 2011.

In government she served as Cabinet Secretary for Health and Wellbeing between May 2007 and September 2012 and then Cabinet Secretary for Infrastructure, Investment and Cities with responsibility for government strategy and the constitution until November 2014. Throughout this period she also served as Deputy First Minister of Scotland.

She became leader of the Scottish National Party (SNP) on November 14, 2014 and was sworn in as First Minister on November 20, 2014. She lives in Glasgow with her husband Peter Murrell.

More about Nicola Sturgeon

Ngozi Okonjo-Iweala

Director-General at World Trade Organization

Ngozi Okonjo-Iweala
Dr Ngozi Okonjo-Iweala took office as WTO Director-General on 1 March 2021. She is a global finance expert, an economist and international development professional with over 30 years of experience working in Asia, Africa, Europe, Latin America and North America.

Dr Okonjo-Iweala was formerly Chair of the Board of Gavi, the Vaccine Alliance. She was previously on the Boards of Standard Chartered PLC and Twitter Inc. She was appointed as African Union (AU) Special Envoy to mobilise international financial support for the fight against COVID-19 and WHO Special Envoy for Access to COVID-19 Tools Accelerator.

She is a skilled negotiator and has brokered numerous agreements which have produced win-win outcomes in negotiations. She is regarded as an effective consensus builder and an honest broker enjoying the trust and confidence of governments and other stakeholders.

  More about Ngozi Okonjo-Iweala