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COP29 Climate FIT Day event: High-level meeting on the Baku Initiative for Climate Finance, Investment and Trade (BICFIT Dialogue)


COP29 Climate FIT Day event: High-level meeting on the Baku Initiative for Climate Finance, Investment and Trade (BICFIT Dialogue)
14 November 2024
09:00 - 11:00 hrs. Blue Zone, Presidency Area, Conference Room Mugham
Baku
, Azerbaijan

Official launch of the COP29 BICFIT Dialogue and announcement of the COP29 Baku Global Coalition for SMEs Green Transitions

The Baku Initiative for Climate Finance, Investment, and Trade (BICFIT) Dialogue is an initiative of the COP29 Presidency, co-facilitated by UN Trade and Development (UNCTAD) and UN Development Program (UNDP), in collaboration with the World Trade Organization (WTO), International Trade Center (ITC), and the respective Presidencies of the Conference of the Parties (COP) of the UN Framework Convention on Climate Change (UNFCCC), along with various international organizations, multilateral development banks, multilateral climate funds, civil society organizations, think tanks, and academic institutions.

BICFIT Dialogue represents the continuation of the growing momentum on the mutually reinforcing role of climate finance, investment, and trade in addressing the intersectional challenges of climate change and sustainable development, as acknowledged during COP26, COP27, and COP28.

Objectives

Respecting the sovereignty of all Parties, the BICFIT Dialogue aims to advance national ambitions and actions through the synergistic utilization of climate finance, investment, and trade in accordance with the UNFCCC and the Paris Agreement. It seeks to foster socio-economic co-benefits of climate policies, ensuring equitable and environmentally sustainable transitions for vulnerable populations, including micro, small, and medium-sized enterprises (MSMEs) and countries with special needs.

This initiative is voluntary, inclusive of all Parties and observers, and is designed to facilitate knowledge sharing, mutual learning, and coordination among ministries, governments, and other stakeholders.

BICFIT Dialogue’s platform is intended to strengthen support for countries’ Nationally Determined Contributions (NDCs), National Adaptation Plans (NAPs), and Long-term Low-Emission Development Strategies (LT-LEDS) while fostering alignment with sustainable development.

 

Rebeca Grynspan
Secretary-General
UN Trade and Development (UNCTAD)

Rebeca Grynspan, of Costa Rica, became UNCTAD's eighth Secretary-General on 13 September 2021 and is the first woman to lead the organization.

Prior to her UNCTAD appointment, she was the Ibero-American secretary-general from 2014 to 2021, also the first woman to head the organization. During her mandate, she has coordinated the 22-member Iberoamerican Conference and led four key summits of Heads of State and Government. 

In 2010 she was appointed Under-Secretary-General of the United Nations and Associate Administrator of the United Nations Development Program (UNDP) and prior to that was UNDP Regional Director for Latin America and the Caribbean.  

Prior to joining the United Nations, Ms. Grynspan served as Vice-President of Costa Rica from 1994 to 1998. She was also Minister of Housing, Minister Coordinator of Economic and Social Affairs, and Deputy Minister of Finance. In 2021 she was named Special International Advisor to the newly created Economic and Social Council of Argentina and invited to join as member of the G20 High-Level Independent Panel on Financing the Global Commons for Pandemic Preparedness and Response.

In addition to her experience as a lecturer and advisor to several international organizations, she has been actively involved in key United Nations initiatives, such as the Millennium Project's Task Force on Poverty and Economic Development and the High-level Panel on Financing for Development.  

In 2014 and 2015, she was recognized as one of the 50 leading intellectuals of Latin America.  And she was recognized as one of the 100 most powerful women in Central America by Forbes magazine.

Ms Grynspan holds a degree in Economics by the University of Costa Rica and a MSc in Economics by the University of Sussex. She has been awarded a Doctorate Honoris Causa by the University of Salamanca, the University of Extremadura and the European University of Madrid in recognition of her outstanding professional achievements. 

Mikayil Chingiz Jabbarov
Minister of Economу
Azerbaijan

Mikayil Chingiz Jabbarov (born 19 September 1976), is an Azerbaijani politician who is the current Minister of Economу of Azerbaijan (since 23 October 2019).

He was previously Minister of Taxes (2017–2019) and Minister of Education (2013–2017).

He studied at Baku State University, graduated from the International Law Department with distinction, and obtained an LL.M degree from McGeorge School of Law, University of the Pacific (Sacramento, California, US). Followed by a master's degree in Economics from Azerbaijan State Economic University.

Achim Steiner
Administrator
United Nations Development Programme (UNDP)
Ngozi Okonjo-Iweala
Director-General
World Trade Organization

Dr Ngozi Okonjo-Iweala is the Director-General of the World Trade Organization (WTO). She is an economist and international development expert with over 30 years of experience.

She was Chair of the Board of Gavi, the Vaccine Alliance (2016 – 2020), the African Risk Capacity (2014 – 2020) and Co-Chair of The Global Commission on the Economy and Climate. Previously, she served as Senior Advisor at Lazard and sat on the Boards of Standard Chartered PLC and Twitter Inc.

Dr Okonjo-Iweala was appointed as an AU COVID-19 Special Envoy and WHO COVID-19 Special Envoy. Dr Okonjo-Iweala served twice as Nigeria’s Finance Minister (2003-2006, 2011-2015), the first woman to hold the position, and spent a 25-year career at the World Bank rising to the No.2 position of Managing Director.

In 2020 Dr Okonjo-Iweala was named Forbes African of the Year. She has been ranked by Fortune as one of the 50 Greatest World Leaders (2015) and by Forbes as one of the Top 100 Most Powerful Women in the World consecutively for four years. She holds a Bachelor’s in Economics from Harvard University and a PhD from the Massachusetts Institute of Technology.

Pamela Coke-Hamilton
Executive Director
International Trade Centre

Pamela Coke-Hamilton has served as Executive Director of the International Trade Centre since 1 October 2020. She joined ITC from the United Nations Conference on Trade and Development (UNCTAD), where she was Director of the Division on International Trade and Commodities.

Ms. Coke-Hamilton has a breadth of experience and expertise in trade-related capacity-building and sustainable development. She served with the Jamaican Government, the Caribbean Forum in trade negotiations, and multilateral institutions, including the Organization of American States and InterAmerican Development Bank. She previously served as Executive Director of the Caribbean Export Development Agency, strengthening the private sector and micro, small and medium enterprises through investment promotion.  

She has a deep understanding of the challenges faced by vulnerable economies such as the small island developing States and least developed countries. Ms. Coke-Hamilton has worked extensively with the private sector across African, Caribbean and Pacific countries and academia to build trade-related institutional strength within member States. She also established the Women Empowered through Export (WeXport) platform to address the disadvantages that women-owned firms experience in accessing markets. 

Ms. Coke-Hamilton holds a Juris Doctor in Law from the Georgetown University School of Law in Washington, DC, and a BSc in International Relations and Economics from the University of the West Indies, Kingston, Jamaica.

Makhtar Diop
Managing Director
International Finance Corporation (IFC)

Makhtar Diop is IFC’s Managing Director.

He assumed this position on March 1st, 2021. Prior to this appointment, he was the World Bank’s Vice President for Infrastructure, where he led the Bank’s global efforts to build sustainable infrastructure in developing and emerging economies. In this role, he oversaw the Bank’s critical work in energy, transport, digital infrastructure, and public-private partnerships.

A recognized opinion leader in the economic and social development field, Makhtar Diop has been named one of the 100 most influential Africans in the world. In 2015, he received the prestigious Regents’ Lectureship Award from the University of California, Berkeley.

Mr. Diop holds degrees in economics from the Universities of Warwick and Nottingham in England.

Simon Stiell
Executive Secretary
United Nations Framework Convention on Climate Change (UNFCCC)

United Nations Secretary-General António Guterres announced on 15 August 2022 the appointment of Simon Stiell of Grenada as Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC).  The appointment has been made after consultation with the Conference of Parties through its Bureau.

He will succeed Patricia Espinosa of Mexico to whom the Secretary-General is grateful for her commitment and dedicated service to the Organization.  The Secretary-General also wishes to extend his appreciation to the Executive Secretary of the United Nations Convention to Combat Desertification, Ibrahim Thiaw, who will continue to serve as Acting Executive Secretary of UNFCCC until Mr. Stiell assumes this position.

Mr. Stiell, a true champion for formulating creative approaches for our collective global response to the climate crisis, brings to the position a unique skillset developed over a thirty-three year career, coupled with vast experience in bilateral, regional and multilateral affairs.

Mr. Stiell served as senior minister in the Government of Grenada from 2013 through June 2022, holding the portfolio of Minister for Climate Resilience and the Environment for five years.  He previously served as Minister for Education and Human Resource Development, Minister of State with responsibility for human resource development and the environment and as a Parliamentary Secretary within the Ministry of Agriculture, Lands, Forestry and Fisheries.  He also served as a member of Grenada’s Upper House of Parliament, the Senate, where he served as Leader of Government Business.

Prior to joining government, Mr. Stiell’s career spanned some fourteen years within the technology sector, holding senior executive positions in a number of industry leading companies, from Silicon Valley based technology start-ups to major corporations, including Nokia and GEC Plessey Telecommunications.

Mr. Stiell originally trained as an engineer at London Metropolitan University and College of North West London, and holds a Master of Business Administration from the University of Westminster in the United Kingdom.

Nan Li Collins
Director, Division on Investment and Enterprise
UN Trade and Development

Nan has over 25 years’ experience in strategic management roles both with the United Nations and the private sector across Asia, Africa, North America and Europe. She currently leads a global team in investment and sustainable finance research, policy, investment promotion and facilitation, enterprise development, and technical assistance to governments in over 160 countries. She chairs the Governing Board of the UN Sustainable Stock Exchanges Initiative, leads the World Investment Forum and the inter-governmental Working Group on International Standards of Accounting and Reporting.

Before joining UNCTAD, she served as the Global Director of Sustainable Investments and Innovation at UNOPS, where she led a team to promote infrastructure investments in many developing countries and co-invest with DFIs and private investors. She served as UNOPS focal point in the UN Inter-agency Task Force on Financing for Development.

Previously, she served as the Head of UNDP SDG Innovative Finance and as Head of South-South Cooperation and Investment at UNDP's Asia Pacific Center in Bangkok. She led a team to engage public and private investors and developed national policy dialogues and networks on SDG investment, piloted SDG-aligned funds, bonds and projects in multiple countries. She helped to position UNDP as a pioneer in the UN on sustainable investment and innovative finance. She also held positions as Policy Specialist in Capacity Development and Public-Private Partnerships in New York and Johannesburg since 2009, overseeing a regional portfolio in Eastern and Southern Africa.

Before joining UNDP, she spent about 10 years in the private sector in China and the USA, covering market entry and investment strategy, merger and acquisition, business development and sustainability. She holds a master’s degree in business administration from Hong Kong University of Science and Technology, and participated in the Executive Leadership program at IESE, and Finance Executive program at Tsinghua University.

Co-organizer(s):
COP29 Presidency, Ministry of Economy of the Republic of Azerbaijan, UNDP, WTO and ITC

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COP29 11–22 Nov 2024 – Baku, Azerbaijan