Credits Photo: Tomislav Georgiev / World Bank
Published on June 6, 2021

The Business of Climate Change

In this podcast, Vivek Pathak, IFC Director of Global Head Climate Business speaks on the practical and profitable solutions to channel climate business in high-growth sectors. Mr. Vivek facilitates and aids in conversations to enable new business opportunities for climate business. Mr. Pathak speaks about the importance businesses have in reducing global greenhouse gas emissions, as well as implementing climate-smart technologies and innovations. Importantly, Mr. Pathak emphasizes that this is a “collective effort” and we need an “industry wide coalition for change” to achieve these climate goals.

To aid in changing the conversation surrounding climate change, Mr. Pathak offers multiple suggestions. First, he encourages development of the local carbon economies worldwide. Next, he mentions the damaging effects of the global supply chain and the large amount of waste as a result. Mr. Pathak notes that the poorest countries have been economically damaged to an astronomical rate due to the emerging climate crisis and age of mass consumption. Next, he notes that the private and public sector have to work together and that this would be essential due to the government control of regulatory levers to encourage business and private-sector investors to join. Finally, he emphasizes the importance of working with the United Nations to achieve this private investment in global climate initiatives.

“Green is a huge business opportunity and if you’re not going to capitalize on it, you’re going to miss and lose market shares.”— Vivek Pathak, IFC Director of Global Head Climate Business

The International Finance Corporation is opening new markets in key areas such as clean energy, sustainable cities, climate-smart agriculture, energy efficiency, green buildings, and green finance. This conversation with Vivek Pathak and Lisa Kurbiel, Head of Secretariat at the UN Joint SDG Fund, showcases the action that is being done by the UN, Governments and private sector, and how important these partnerships are in thee urgent times for the lives of the most vulnerable and for the planet. 

Listen to the podcast episode.