By Egbodo Queen
The incoming Chief Executive Officer of Climate Investment Funds (CIF), Tariye Gbadegesin, has shared her vision for the global multilateral climate funds with over $11 billion financing portfolio.
In a measured response to her appointment, Gbadegesin said she was deeply honored to join the Climate Investment Funds to accelerate collective climate action and scale climate finance where it is needed most.
Gbadegesin, who noted that developing countries are at the forefront of the climate crisis, said “this is an exciting time for the global community, as we seek to build a multilateral system fit for purpose to keep 1.5C alive while lifting millions out of poverty”.
A Nigerian-US national and first African to be appointed CEO of CIF, Tariye Gbadegesin, who begins her role in March 2024, expressed optimism that the Fund is uniquely placed to deliver on its mandates with its six multilateral development bank partners and 15 years of experience delivering pioneering climate finance.
In a statement announcing her appointment last Monday, Bob Natifu and Edward Webber, CIF Trust Fund committee co-chairs, said Gbadegesin was selected following a highly competitive international recruitment process featuring outstanding global climate leaders.
“Tariye will lead one of the world’s largest multilateral climate funds with over $11Bn pledged, pioneering clean energy transitions, nature-based solutions and resilience in over 70 developing countries.
“She joins CIF after holding leadership positions in infrastructure and climate finance as the CEO of ARM-Harith Infrastructure Investments, a leading Pan-African infrastructure fund investing in energy transition and climate resilient infrastructure, and as the Co-Chair of the Voluntary Carbon Markets Integrity Initiative (VCMI), an international organization enabling high-integrity voluntary carbon markets for climate action.”
“Tariye is a trailblazer, a strategic thinker and relationship-builder with deep expertise, knowledge and experience in climate finance. We have no time to lose, and she brings the drive and vision needed to deliver now for our planet,” they said.
The incoming CEO Gbadegesin replaces Mafalda Duarte, who left CIF in July to lead the Green Climate Fund.
Founded in 2008, the CIF has the mandate to mobilise concessional finance for low-carbon, climate-resilient development at scale and has sourced more than $64 billion in additional financing to date.
