UCL Institute for Innovation and Public Purpose


UCL IIPP says governments need to put urgent climate action at the heart of economic policy

3 November 2021

This year at COP26, UCL IIPP is leading with a message of urgency. IIPP has worked closely with governments around the world to rethink the role of the public sector and is now highlighting the need for governments to act boldly to address the climate crisis.


As world leaders convene at COP26, the message of urgency and need for bolder action from governments is even more relevant and builds from the path-breaking research of IIPP, and of IIPP’s founding director, Professor Mariana Mazzucato, including on market shapingmission-oriented innovation, and green finance

As part of COP26, UCL IIPP is collaborating with the Government of Spain to convene a panel moderated by Professor Mariana Mazzucato, with representatives from past, present and future hosts of COP: These include Teresa Ribera, Deputy Prime Minister of Spain and Minister for the Ecological Transition and the Demographic Challenge of Spain; Nicola Sturgeon, First Minister of Scotland; and Egypt's Minister of Environment, Yasmine Fouad.  

This all-woman panel of leaders will focus on Getting Serious about the Green Economy: Social and Economic Tools to Achieve Bold Climate Targets. They will explore concrete examples of the policies and tools needed to put climate change at the centre of how states organise their economies, and to bring much-needed urgency to the green transition.  

This panel takes place 10 November, 17:30-18:30 GMT in the EU Pavilion, in the Blue Zone of COP26 in Glasgow and online. 

Professor Mariana Mazzucato will also be speaking on a panel hosted by the Scottish National Investment Bank, on Public Development Banks & Green Finance for a Just Transition to Net Zero, along with Eilidh Mactaggart, Chief Executive Officer of the Scottish National Investment Bank, and a senior minister from the Government of Scotland (TBC). This panel will discuss the journey to establish the Scottish National Investment Bank – which was informed by IIPP’s high-impact research. It will explore the role that development banks can play in supporting a just transition to net zero, and delivering a fairer, more sustainable economy. 

This panel takes place on 10 November, 10:00 to 11:00 GMT in Gallery 4, The Lighthouse, Glasgow and online.

To hit this message of urgency home, IIPP has commissioned a new art piece from Cornelia Parker, one of Britain’s most acclaimed contemporary artists: HURRY UP PLEASE IT’S TIME highlights the urgent need to address the climate crisis now. Parker has adopted a phrase from TS Elliot’s The Waste Land to create this large neon artwork, which is being displayed in The Scottish Exhibition Centre, the principal venue for COP26. A mobile iteration of the work in the form of a 1m long lightbox will also be featured at IIPP’s COP26 events. 

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