COP 28: From a financing gap to outcomes-oriented finance

04 December 2023, 4:30 am–5:45 am

Date: 4 December 2023 Time: 04:30 - 05:45 am (GMT) UK / 08:30 – 09:45 Gulf Standard Time (GST)

Event Information

Open to: All
Organiser: UCL Institute for Innovation and Public Purpose | Government of Argentina | United Nations Framework Convention on Climate Change

isadora.schappell@ucl.ac.uk

Join us for this high-level, all-women panel discussion organised and moderated by Professor Mariana Mazzucato, Founding Director of the UCL Institute for Innovation and Public Purpose (IIPP) and co-hosted by UCL IIPP, the Government of Argentina, and the United Nations Framework Convention on Climate Change (UNFCCC).

The panel discussion will be broadcasted here

The panel discussion organised and moderated by Professor Mariana Mazzucato, Professor in the Economics of Innovation and Public Value, University College London, will include keynote remarks from Mia Amor Mottley, Prime Minister of Barbados followed by a panel discussion with Bogolo Kenewendo, Special Advisor, Regionalization Director, Just Transition with High-Level Climate Champions Team, Cecilia Nicolini, State Secretary of Climate Change, Sustainable Development and Innovation of Argentina and Teresa Ribera, Deputy Prime Minister of Spain and Minister for the Ecological Transition, Spain.

We need at least US$4.3 trillion in annual financial flows by 2030 to avoid the worst impacts of climate change. This means drastically scaling public and private sector finance, going from billions to trillions. The climate financing gap could be tackled by shifting just 1 per cent of global financial assets (OECD). However, it is time to move beyond reactively filling financing gaps and solutions that are too-little, too-late, and start talking more proactively about the quality of finance. To tackle the climate crisis and drive real transformative change, we need a new type of finance that is long-term, patient and mission-oriented. The purpose of this session is to discuss the challenges and opportunities of redesigning public development finance to tackle the climate crisis, while transforming our economies to become more resilient, inclusive, and sustainable. Comprised of global female leaders, the panel will explore how a more ambitious, market-shaping mindset can help governments and public development banks crowd in private sector investment to direct growth for people and planet.

Moderator and Organiser:

Mariana Mazzucato | Professor in the Economics of Innovation and Public Value, University College London

Panel:

Keynote: Mia Amor Mottley | Prime Minister of Barbados
Bogolo Kenewendo | Special Advisor, Regionalization Director, Just Transition with High-Level Climate Champions Team
Cecilia Nicolini | State Secretary of Climate Change, Sustainable Development and Innovation of Argentina
Teresa Ribera | Deputy Prime Minister of Spain and Minister for the Ecological Transition, Spain

This is a free and open to public hybrid event taking place online and in-person at the COP 28 Blue Zone, Dubai - UNFCCC Global Climate Action Hub (Al Hur stage) and on Zoom. No registration is required. To attend in person no pre-registration is required aside from access to the Blue Zone

The event will take place on Monday 4 December 2022 at 04:30-05:45 (GMT) / 08:30-09:45 (GST).

About the Speakers

Moderator and Organiser - Professor Mariana Mazzucato

Professor in the Economics of Innovation and Public Value, University College London at UCL Institute for Innovation and Public Purpose

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 and Public Purpose. She has won 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 the 2018 Leontief Prize for Advancing the Frontiers of Economic Thought. Most recently, Pope Francis appointed her to the Pontifical Academy for Life for bringing ‘more humanity’ to the world.

Professor Mazzucato is the author of four 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), Mission Economy: a moonshot guide to changing capitalism (2021) and The Big Con: How the Consulting Industry Weakens our Businesses, Infantilizes our Governments and Warps our Economies (2023).

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 Council on the Economics of Health for All, Co-Chair of the Global Commission on the Economics of Water, Co-Chair on the Council on Urban Initiatives, and a member of the South African President’s Economic Advisory Council.

More about Moderator and Organiser - Professor Mariana Mazzucato

Mia Amor Mottley

Prime Minister of Barbados

The Honourable Mia Mottley is the 8th Prime Minister of Barbados. She became the first woman to occupy that high office, following General Elections on May 24th 2018, in which she led the Barbados Labour Party to an emphatic victory, winning all 30 seats in the House of Assembly by the largest margin ever seen in the electoral history of the country.

An Attorney-at-Law and Queen’s Counsel, Prime Minister Mottley has been active in the political life of Barbados for almost three decades. First elected in 1994 she is presently in her sixth term as Member of Parliament for the constituency of St. Michael North East.

From 1994 to 2008 Miss Mottley served in the Cabinet of three successive Administrations, first as Minister of Education and Culture, then Attorney General and Minister of Home Affairs, and then Minister of Economic Affairs. In 2003 she was appointed Deputy Prime Minister. Prime Minister Mottley currently also holds the portfolios of Minister of Finance, Economic Affairs and Investment.

Since becoming Prime Minister, Ms. Mottley has served as the Chair of the Conference of Heads of Government of the Caribbean Community (CARICOM) between January 1st and June 30th, 2020. Notwithstanding that, Ms. Mottely, as Prime Minister of Barbados, serves as the Lead Head of Government within CARICOM, with responsibility for the CARICOM Single Market and Economy (CSME).

Prime Minister Mottley also serves as Co-Chair of the Americas Cruise Tourism Task Force for the Caribbean, Mexico, Central and South America markets. Prime Minister Mottley also served as Chair of the joint Development Committee (DC) of the World Bank and the International Monetary Fund between November 2020 and October 2021.

More about Mia Amor Mottley

Bogolo Kenewendo

Special Advisor, Regionalization Director, Just Transition with High-Level Climate Champions Team

Bogolo Joy Kenewendo's career spans trade & investment, finance & development, and public policy. She is the Regionalisation Director, and Special Advisor to the UN Climate Change High Level Champions. Kenewendo served as a Specially Elected Member of Parliament and Cabinet Minister of Investment, Trade and Industry in Botswana. She serves in various corporate and philanthropic boards including as Chairperson of Bank Gaborone, Non-Executive Director of the Africa Free Trade Area adjustment Fund Corporation and the Africa Center for Economic Transformation.

She also advises governments and international institutions on trade and economic development policy.

Kenewendo has served the G7 Gender Equality Advisory Council, the United Nations Secretary-General António Guterres’ High-Level Panel on Digital Cooperation, Advisory group on the gender architecture of the UN and group on Financing for Development.

She is also a member of the World Economic Forum (WEF) Trade Advisory Group, Global Future Council on Global Public Goods in the Fourth Industrial Revolution, and a WEF Young Global Leader. She is a Non-Resident Fellow with the Center for Global Development.

She is frequently named among Africa's Most Influential People by various publications. In 2022 she was named among Prestigious Time magazine’s TIME100 Next Honorees highlighting 100 emerging leaders from around the world who are shaping the future and defining the next generation of leadership. More about Bogolo Kenewendo

Cecilia Nicolini

State Secretary of Climate Change, Sustainable Development and Innovation of Argentina

Cecilia Nicolini is the State Secretary for Climate Change, Sustainable Development and Innovation at the National Ministry of Environment and Advisor to the President of Argentina. Outside of her work with the Argentineexecutive, she is an international consultant with more than 13 years of experience working with governments, politicians, and organizations worldwide. She has managed a presidential campaign, advised governors and mayors, and run an election for an international organization.

She currently lives in Cambridge where she is a research fellow at the Harvard University Ash Center for Democratic Governance and Innovation and is a research affiliate at the Massachusetts Institute of Technology’s Center for Collective Intelligence. She speaks five languages and she is an advocate for social justice and gender equality.

Nicolini holds a master in public administration from Harvard’s Kennedy School of government, a master’s in political communication, a bachelor’s in political science, and an MBA from the IE Business School.

More about Cecilia Nicolini

Teresa Ribera

Deputy Prime Minister of Spain and Minister for the Ecological Transition, Spain

Teresa Ribera is the Spanish Vice-President and Minister for the Ecological Transition. Prior to that, Ms Ribera was Director of the Institute for Sustainable Development and International Relations (IDDRI) from 2014 to 2018, and enabled the Institute to play a key role in the negotiation of the Paris Climate Agreement and the transition towards sustainable development.
She served as the Spanish Secretary of State for Climate Change and Biodiversity from 2008 to 2011, responsible for environmental and climate policies, as well as the National Meteorological Agency.

A public official from the Senior Corps of State Civil Administrators, she has also taught at the Autonomous University of Madrid.

More about Teresa Ribera