The Trust Fund Committee
of the Climate Investment Funds (CIF) has announced the appointment of Tariye
Gbadegesin as Chief Executive Officer, effective March 2024. Tariye according
to a statement released on Monday, 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 seasoned climate finance executive with
over 20 years of experience investing in emerging markets and developing
economies, including significant experience in mobilizing private capital for
climate action and supporting policy design for energy transition finance and
implementation. In her recent career, she has structured and delivered over
$3bn in large-scale energy, infrastructure and industrial investments and has
designed and structured multiple complex blended finance funds, platforms, and
syndications, mobilizing capital from the private sector, multilateral
development banks and concessional windows.
Previously, she worked at the International Monetary
Fund, the Boston Consulting Group, Price Waterhouse Coopers, and the Africa
Finance Corporation.
Tariye has served as an advisor on multiple climate
and economic development organizations including as member of the Climate
Policy Initiative’s (CPI) Global Innovation Lab for Climate Finance; the
Infrastructure Advisory Committee for the United Nations Principles for
Responsible Investing (PRI); the African Advisory Board of the Glasgow
Financial Alliance for Net Zero (GFANZ); and the Advisory Council of the
Millennium Challenge Corporation (MCC).
A US and Nigerian national, Tariye holds a bachelor’s
degree in economics from Amherst College and an MBA from Harvard Business
School.
“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,” said
Tariye Gbadegesin. “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.”
CIF Trust Fund Committee Co-Chairs, Bob Natifu of
Uganda and Edward Webber of the United Kingdom noted that this appointment,
decided by consensus of all committee members, comes at a critical time. Tariye
Gbadegesin was selected following a highly competitive international
recruitment process featuring outstanding global climate leaders. “Tariye is
a trailblazer, a strategic thinker and a relationship-builder with deep
expertise, knowledge, and experience in climate finance,” they said. “We
have no time to lose, and she brings the drive and vision needed to deliver now
for our planet.”
The Trust Fund Committee Co-Chairs also expressed
their gratitude to Luis Tineo, CIF’s interim CEO, for his steady leadership
during the transition phase. Luis will continue as Interim CEO until March
2024.
Tariye Gbadegesin replaces Mafalda Duarte, who left
in July 2023 to lead the Green Climate Fund.
