Nigerian Tariye Gbadegesin Becomes First African CEO of Climate Investment Funds

Tariye Gbadegesin, a Nigerian-US national, has been appointed as the chief executive officer (CEO) of Climate Investment Funds (CIF), the first African to hold the position.

CIF was established in 2008 to mobilize concessional finance for low-carbon, climate-resilient development at scale and has sourced more than $64 billion in additional financing to date.

Gbadegesin, who is currently the chief executive of ARM Harith Infrastructure Investments, a pan-African infrastructure fund, will begin her role in March 2024.

Bringing over 20 years of experience in investing in developing economies, she will be leading one of the world’s largest multilateral climate funds with over $11 billion pledged, pioneering clean energy transitions, nature-based solutions, and resilience in over 70 developing countries.

According to the statement, “The Trust Fund Committee of the Climate Investment Funds (CIF) announced today the appointment of Tariye Gbadegesin as Chief Executive Officer, effective March 2024.

“Tariye will lead one of the world’s largest multilateral climate funds with over $11 billion 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.”

Gbadegesin, in her response, said she is “deeply honoured” and will work to scale climate finance for developing countries.

“I am deeply honored to join the Climate Investment Funds to accelerate collective climate action. Developing countries are at the forefront of the climate crisis, and we will only meet this decisive moment by working together to scale climate finance where it is needed most,” she 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. With six multilateral development bank partners and 15 years of experience delivering pioneering climate finance, CIF is uniquely placed to deliver in this new era.”

According to Bob Natifu and Edward Webber, CIF Trust Fund committee co-chairs, Gbadegesin was selected following a highly competitive international recruitment process featuring outstanding global climate leaders.

Source: Business day.ng

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