Will Big Bets to Solve Climate Change Pay Off? With Rajiv Shah
Dec 18, 2023
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Rajiv Shah, former Administrator of USAID, discusses world hunger, pandemics, and climate change. He explains the impact of going big even if it results in failure. He talks about the recent UN Climate Conference, the revamping of global institutions, and the role of billionaire philanthropists. They also discuss the slow progress and lack of global agreement on climate change, loopholes in the COP 28 deal, the role of local companies in tackling climate change, and the use of AI to address climate change. They also explore efforts to bring solar power to Eastern Congo.
Setting bold goals and taking ambitious approaches can effectively address complex issues like childhood vaccinations and global poverty.
Philanthropy needs to be informed by expert institutions, respectful of local communities, and aligned with broader policy and regulatory changes to ensure lasting impact.
Reshaping multilateral institutions and providing necessary financial support is crucial for developing countries to transition to clean energy sources.
Deep dives
The importance of big bets and setting ambitious goals in philanthropy
Rajiv Shah discusses the value of setting bold goals and taking ambitious approaches to philanthropy. He emphasizes the need for deep learning, collaboration, and rigorous measurement of results in order to effectively address complex issues like childhood vaccinations and global poverty.
The role of philanthropy in tackling climate change
Shah discusses the impact of billionaire philanthropists in addressing climate change. He acknowledges the positive contributions made by individuals like Bill Gates and Mackenzie Scott, who have invested significant resources in areas such as renewable energy and social justice. However, he also highlights the need for philanthropy to be informed by expert institutions, respectful of local communities, and aligned with broader policy and regulatory changes to ensure lasting impact.
The challenges of financing energy transition in developing countries
Shah delves into the issues faced by developing countries in transitioning to clean energy sources. He explains the lack of financing options and the limitations of current philanthropic efforts. Shah stresses the importance of reshaping multilateral institutions, such as the World Bank and the IMF, to provide the necessary financial support for energy transitions in these countries.
The intersection of AI and climate change
Shah discusses the potential of AI in addressing climate change but cautions about its energy consumption and potential to exacerbate inequalities. He emphasizes the need for a global shift towards clean energy and access to technology and financing in developing countries to harness the benefits of AI in achieving climate goals.
Moving beyond philanthropy towards systemic change
Shah calls for a greater focus on policy, governance, and regulation to address societal challenges more effectively. He advocates for a comprehensive approach that combines philanthropic efforts with broader political and social change to create a more equitable world.
Are world hunger, pandemics and climate change “fixable” – or is mitigating their impacts the best we can hope for? Is there any point in making them moonshots? In his new book, Big Bets: How Large-Scale Change Really Happens, Rockefeller Foundation President and former Administrator of USAID Rajiv Shah explains how going big impacts motivation – even if the result is a Big Fail. We speak with Shah about the outcome of the recent UN Climate Conference in Dubai (and the overwhelming presence of Big Oil), why he thinks global institutions like the World Bank and the IMF need to be revamped, and whether billionaire philanthropists are the answer to the world’s woes (spoiler: they aren’t).
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