The Business of Climate Change

A time to act - Season Two Episode 05

Credits Financing for renewable energy and energy efficiency projects in FYR Macedonia. Here a solar heater sits atop a building. More and more people are harnessing the sun's potential to provide power in the country. | Photo: Tomislav Georgiev / World Bank
Audio file
Published on May 20, 2021

The Business of Climate Change with Vivek Pathak, IFC Director, Global Head Climate Business explores practical, profitable, and creative solutions in channeling climate business in high-growth sectors. Business and industry have a key role to play in reducing global greenhouse gas emissions, as well as implementing climate-smart technologies and innovations. They must be part of the collaborative, global effort to tackle climate change and meet the goals of the Paris Agreement.

Already, global markets for climate-smart businesses and technologies have grown to $1 trillion annually. This growth is expected to accelerate, delivering environmental and social benefits while creating value for investors. Analysis by International Finance Corporation (IFC) shows that 21 emerging market economies alone hold $23 trillion in climate-smart investment opportunities through 2030. A deep dive into urban investments found that cities across emerging markets could attract more than $29 trillion in green buildings, public transport, electric vehicles, waste management, water treatment and renewable energy.IFC work in climate business.

IFC is mainstreaming - opening new markets in key areas such as clean energy, sustainable cities, climate-smart agriculture, energy efficiency, green buildings, and green finance. This conversation will foster a unique opportunity to showcase the action that is being done by the UN, Governments and private sector, to speak about how important these partnerships are in these urgent times for the lives of the most vulnerable and for the planet.


Vivek Pathak, IFC Director, Global Head Climate Business

Moderated by Lisa Kurbiel, Head of Secretariat, Joint SDG Fund



Vivek Pathak

Vivek Pathak

IFC Director, Global Head Climate Business

Vivek Pathak is IFC’s Global Head and Director of Climate Business. In this role, he facilitates business growth, provides thought leadership, new product development and facilitates all work related to climate business. He is responsible for identifying new business opportunities for climate business and facilitating the mobilization of capital into this space.

Prior to his current appointment, Mr. Pathak was IFC’s Regional Director for East Asia and the Pacific, leading advisory and investment operations across 18 countries, which in fiscal year 2020 reached US$4.2 billion in long-term investments, including funds mobilized from other investors. He has extensive emerging markets experience in principal investments, restructuring and risk management.

Earlier in his career, Mr. Pathak was Global Head and Director for Investment and Credit Risk, responsible for global coverage of credit risk, investment risk, integrity risk, pricing and credit/equity training. Prior to that he oversaw IFC’s portfolio in the Middle East and North Africa and led business development in frontier markets in the Middle East and North Africa. Before IFC, Mr. Pathak worked at Bank of America and ABN AMRO Bank in new business and risk management.