Transformational Change Learning Partnership | Catalyzing Transformational Change for Climate Resilience through Private Sector Engagement

Tuesday, March 2, 2021 | 9:00 – 10:30 ET | 19:45 – 21:15 NPT 

The International Finance Corporation (IFC) together with selected country-based business representatives shared their experience in promoting climate resilience of farming communities through the engagement of the private sector in Nepal and Bangladesh, based on projects supported by the Pilot Program for Climate Resilience (PPCR) of the Climate Investment Funds.

Key messages shared during the meeting included:

• There is a role for the private sector (be it agribusiness companies, SMEs, impact investors) in promoting climate resilience, complementing the currently predominant role played by public bodies. However, there needs to be a business case orientation in involving the private sector.
• Similarly, there needs to be demonstrable economic returns for farmers and SMEs alike to adopt climate-resilient practices. These stakeholders intuitively understand climate risks and resilience but the adoption of climate-resilient practices is largely motivated by evidence of practical benefits in terms of revenue and yield improvements or losses avoided during the event of a climate shock.
• Informed by evidence and impact on the ground, public policy plays an important role in incentivizing and enabling private sector engagement in building climate resilience. It is important that public policies are based on bottom-up insights.

This webinar is part of a series of learning events hosted by the Transformational Change Learning Partnership (TCLP). For more information, please see the TCLP webpage or email ciftclp@worldbank.org.

See the slides from the webinar.

SPEAKERS

 

Harsh Vivek

Program Leader for the South Asia Food and Agribusiness of Advisory Services International Finance Corporation (IFC)

Harsh Vivek is an experienced international development professional with a demonstrated history of working for sustainable private sector development in emerging markets, particularly in South Asia. He is the Program Leader for the South Asia Food and Agribusiness of Advisory Services at IFC, a member of the World Bank Group that is committed to promoting inclusive and sustainable economic development. As Program Leader, he designs and implements innovative development projects, leveraging IFC's investment, to make markets work for the poor covering India, Nepal, and Bangladesh.

Siddhant Pandey

CEO Business Oxygen (IFC’s SME Venture Fund)

Siddhant Pandey has been a banker for over two decades, having worked with Merrill Lynch and Riggs Bank in London. He was also CEO of Ace Development Bank, Nepal. Today, he operates in the world of Private Equity as the Chairman and CEO of Business Oxygen Pvt. Ltd., the first International SME Venture Private Equity impact fund that has a climate focus in Nepal. The investors are the IFC of the World Bank Group, DFID, and the Climate Investment Funds (PPCR).

Hitesh Golchha

Director Golchha Organization

Hitesh Golchha is the Director of Golchha Organization, one of the oldest and biggest corporate houses in Nepal set up in the early 1930’s. He primarily manages the company’s operations in Steel & Engineering, Sugar, Food Grains, Property Development & Hospitality. He drove the project on climate resilience with the IFC PPCR to strengthen the supply chain of sugarcane and support over 10,000 smallholder sugarcane farmers through capacity building efforts in Eastern Sugarmill Pvt.Ltd and Shriram Sugarmill Ltd.