Media Advisory

COP27 Press Conference: MCC, USAID To Launch Joint Program Catalyzing $1Billion In Additional Green Finance

For Immediate Release

November 7, 2022

Please join the Millennium Challenge Corporation’s (MCC) Deputy Vice President of the Infrastructure, Environment and Private Sector (IEPS), Mr. Jonathan Richart, and the U.S. Agency for International Development’s (USAID) Chief Climate Officer and Deputy Administrator, Ms. Gillian Caldwell, for a Press Conference on Wednesday, November 09, 2022, at 9:00am (Cairo Time) in the Cairo Room, Area E, as they announce the launch of a Joint Green Finance Pilot Program for low- and lower-middle income countries. The press conference will be available for all registered COP27 participants on the COP 27 virtual platform.

MCC and USAID will invest in technical assistance that enables the use of green bonds and other blended finance tools, potentially unlocking billions in new climate finance for developing countries.

The Green Bond market has grown rapidly in the past decade with an aggregate market value that reached 1.6 trillion in 2021.  Although Green Bond issuances have occurred across the globe, most occur in high-income countries. This is where MCC and USAID will leverage partnerships and programs, creating inroads for investments in emerging markets while strengthening the resilience of developing economies.

In total, MCC has invested roughly $1.5 billion in climate-related activities between FY15-FY20 and expects to invest an additional $1 billion between FY21-FY24.

The Millennium Challenge Corporation is an independent U.S. government agency working to reduce global poverty through economic growth. Created in 2004, MCC provides time-limited grants and assistance to countries that meet rigorous standards for good governance, fighting corruption and respecting democratic rights.

DETAILS:

Speakers:                  Mr. Jonathan Richart, MCC’s Deputy Vice President of the Infrastructure, Environment and Private Sector (IEPS), and Ms. Gillian Caldwell, USAID’s Chief Climate Officer and Deputy Administrator

Date:                          Wednesday, November 09, 2022

Time:                         9:00am Cairo | 02:00am Washington D.C. (EDT)

Location:                  Cairo Room, Area E

Languages:              English

Ground Rules:         The interview will last 30 minutes. Responses are on-the-record.

BIOGRAPHIES

Mr. Jonathan Richart, MCC’s Deputy Vice President of the Infrastructure, Environment and Private Sector (IEPS)

Jonathan Richart is the Deputy Vice President of the Infrastructure, Environment and Private Sector (IEPS) division within MCC’s Department of Compact Operations. Mr. Richart has served in various positions within MCC over the past 16 years and currently oversees MCC’s climate and blended finance work, and five of MCC’s technical practice units: Energy; Water & Sanitation; Transportation and Vertical Structures; Finance, Investment and Trade; and Environmental & Social Performance. Mr. Richart is responsible for the technical development and oversight of MCC’s infrastructure investments, private sector development programs, and the environmental and social performance of all MCC-funded projects.

Mr. Richart came to MCC from the International Finance Corporation where he supported private sector investments and helped to develop and implement IFC’s environmental and social policy framework and Performance Standards on Environmental and Social Sustainability. Prior to his work at IFC, he managed USAID and World Bank-funded projects at Chemonics International and served as a Peace Corps Volunteer in Mali.

Mr. Richart graduated with Distinction from the London School of Economics with a master’s degree in environmental policy, planning and regulation with a focus on economic development and the environment. He holds a Bachelor of Science in civil and environmental engineering and a Bachelor of Arts in political science and international relations from the University of Illinois at Urbana-Champaign, and speaks fluent French.

 

Ms. Gillian Caldwell, USAID’s Chief Climate Officer and Deputy Administrator

Ms. Gillian Caldwell serves as the Chief Climate Officer and is responsible for directing and overseeing all climate and environment work across the agency. She also serves as Deputy Assistant Administrator, overseeing DDI’s Center for Environment, Energy, and Infrastructure and the Office of Environmental and Social Risk Management.

Ms. Caldwell has worked to protect human rights and the environment throughout her career. Prior to joining USAID, she served as the CEO of Global Witness, which has a focus on tackling climate change and deploys investigations into corruption and natural resource extraction to drive systems change worldwide. From 2007-2010, she launched and led 1Sky, a highly collaborative cross-sector campaign with over 600 allied organizations to pass legislation in the U.S. to address the climate crisis. Gillian also has extensive experience consulting in the areas of strategic planning and organizational development with over 70 non-profits, foundations, and universities.

Ms. Caldwell has a B.A. from Harvard University and a J.D. from Georgetown University, where she was recognized as a Public Interest Law Scholar. She has received a series of awards recognizing her work as a leading global Social Entrepreneur.