Welcoming Jamie Fergusson as IFC's Global Head of Climate Business

We’re pleased to welcome Jamie Fergusson as the new head of IFC’s #Climate Business Department. Jamie brings a wealth of knowledge to the team, thanks to his twenty-five-year career focused on creating markets for sustainable business in developing economies. What opportunities does climate represent for developing countries, and how can IFC help? Read our short interview of Jamie.

What drew you to this new challenge?

Climate change is the key development challenge of our time. It affects billions of people worldwide, most of them in developing countries, which generate fewer carbon emissions but are more vulnerable to extreme weather events and resulting economic shocks. How we respond to these threats is going to shape countries and economies for years to come.?Will they be left behind, or on the contrary rise to the occasion and lead the way? This is a crucial moment and I wanted to be a part of it.

How do you see IFC’s role in responding to the climate crisis?

IFC is uniquely positioned accelerate an inclusive transition by helping emerging economies develop private sector solutions to address the threats of climate change. Our global experience, our deep industry knowledge – from renewables to green supply chains to green finance to green and resilient buildings, our capacity to create and de-risk investment opportunities and our ability to mobilize private capital well beyond our own balance sheet - often in difficult locations - is what sets us apart.?

How has your previous experience prepared you for this new role?

In a funny way, my whole career has led me to this job.?My career has crisscrossed between sustainable investment and ESG policy, public and private, and throughout the emerging markets.?In previous roles I have supported the dramatic growth of IFC’s renewable energy investment business, led our standard setting and risk management in ESG and helped rewire IFC to focus as much effort on creating and unlocking investments as it does to investing for impact.?

Specifically, what are three lessons you think you will apply in the climate business department?

Be bold: Climate business can be high-risk.?New technologies may not work perfectly or may take time to become commercially viable. Things don’t always turn out as planned.?But if we don’t innovate, and at times fail, we won’t achieve the breakthroughs we need.

Connect the dots: There are no silver bullets when it comes to tackling climate change. We need to look at all possible solutions, straddling sectors and stretching across the value chain. The transition will require collaboration across all stakeholders and involve a complete rewiring of the global economy.

Be patient: The green transition is going to be a multi-generation undertaking. We will go through many shades of brown before we get to green. But the development dividends are worth it. This is why I like to talk about IFC accelerating an inclusive transition.

IFC - International Finance Corporation #climateaction #climatebusiness #climatefinance #netzero #decarbonization #inclusivebusiness