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.
In September 2021, Rebeca Grynspan was appointed Secretary-General of the United Nations Conference on Trade and Development (UNCTAD), becoming the first woman to lead the organization in its 60-year history.
Rebeca Grynspan, an economist and former Vice President of Costa Rica, is an experienced leader of international institutions with a substantive track record in government, UN diplomacy, economic policy and multilateral cooperation at the global level.
Prior to joining the United Nations, she was Vice President of Costa Rica and held cabinet positions as Minister of Housing, Minister Coordinator of Economic and Social Affairs and Deputy Finance Minister.
Previously, she served as Secretary-General of the Ibero-American Conference (2014–2021), chairing regional summits of Heads of State and Government; United Nations Under-Secretary-General and Associate Administrator of the United Nations Development Programme (UNDP); and UNDP Regional Director for Latin America and the Caribbean. She was a member of the UN Commission for the Reconstruction of Haiti, representing the UN Secretary-General.
At UNCTAD, Grynspan has been at the centre of critical negotiations to address global trade and development challenges. She played a decisive role in the successful Black Sea Grain Initiative brokered between the UN, Türkiye, the Russian Federation and Ukraine, which enabled the safe export of over 32 million tons of grain, lowered global food prices by 22% and prevented millions from falling into food insecurity. She also leads the UN Global Crisis Response Group on food, energy and finance, and has represented the UN in G20 summits.
Her leadership has been recognized widely. In 2024, she received the Doha Negotiator of the Year Award for spearheading UN efforts to restore Black Sea trade routes. In 2025, Spain’s Ministry of Foreign Affairs, European Union and Cooperation awarded her the inaugural Isabel Oyarzábal Women in Multilateralism International Prize for her contribution to multilateralism.
Ms. Grynspan holds degrees in economics from the University of Costa Rica and the University of Sussex, and honorary doctorates from several European universities.
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.
Dr Ngozi Okonjo-Iweala is the Director-General of the World Trade Organisation. The first woman and first African to hold the position.
She is an economist and international development expert with over 40 years of experience. Dr Okonjo-Iweala was Chair of the Board of Gavi, The Vaccine Alliance, African Risk Capacity and Co-Chair of The Global Commission on the Economy and Climate, in addition to serving as a Senior Advisor at Lazard and sitting on the Boards of Standard Chartered and Twitter, now X. She is Co-Chair of the Global Commission on the Economics of Water, a Distinguished Visiting Fellow at the Brookings Institution and a Harvard Kennedy School Global Public Leader.
She served as Nigeria’s first female and longest serving Finance Minister (7 years) and was also the first female Foreign Minister. Her 25-year career at the World Bank culminated in her rising to the No.2 position of Managing Director, Operations. Dr Okonjo-Iweala is the recipient of numerous honours and has authored several books. She holds a Bachelor’s in Economics from Harvard University and a PhD in Regional Economics and Development from the Massachusetts Institute of Technology.
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 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.
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 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.
