The hunt is on for a new head of the multibillion-dollar Climate Investment Funds as its current CEO Mafalda Duarte departs to lead another multibillion-dollar initiative, the United Nations’ Green Climate Fund.
The CIF’s board will likely release the formal terms of the job later this month, but the search is already underway, a source familiar with the process tells Devex. The fund has shot to prominence on Duarte’s watch due to its work with the Group of Seven to finance the shuttering of coal-fired power plants in middle-income nations.
“We are committed to an orderly leadership transition with minimal impact on CIF operations and staff. We are working to ensure a successor is in place as soon as possible,” Edward Webber and Bob Natifu, the co-chairs of CIF’s governing body, said in a statement Wednesday thanking Duarte for her service.