Governments have selected Ibrahima Cheikh Diong, a seasoned Senegalese banker, to lead the United Nations’ new fund for addressing the loss and damage caused by climate change. Diong’s vast experience in development banking, government, and insurance against climate disasters in Africa makes him a suitable candidate for this crucial role.
During a meeting in Baku, Azerbaijan, the fund’s board, comprised of government officials, announced Diong’s appointment. The co-chair of the board, Richard Sherman, emphasized the significance of this selection in demonstrating the commitment to addressing the urgent impacts of climate change on vulnerable countries.
Diong expressed his honor in taking on this role and his eagerness to provide essential support to low-income developing countries severely affected by climate change. With a career spanning various countries and regions, including China, the United States, the UK, and Africa, Diong brings a wealth of knowledge and expertise to his new position.
Having worked on infrastructure projects like airports and power plants in Senegal, Diong has also been instrumental in expanding insurance coverage for climate disasters in Africa and advising governments on mitigation and prevention strategies. His diverse background and experience make him well-equipped to lead the fund effectively.
In addition to his professional accomplishments, Diong is multilingual, fluent in English, French, Mandarin, and Wolof, reflecting his global perspective and ability to engage with stakeholders from different backgrounds. His previous roles, from advising the president of Senegal on international relations to working as a senior Africa banker with BNP Paribas in London, have prepared him for this new challenge.
As the head of the Fund for responding to Loss and Damage (FRLD), Diong will play a crucial role in distributing funds for approved projects starting next year. While some concerns have been raised about the fund’s size and funding sources, efforts are underway to convert pledges into tangible contributions and secure additional support at the upcoming COP29 UN climate summit.
Looking ahead, Diong’s leadership will be pivotal in ensuring that vulnerable communities receive the needed assistance to address the impacts of climate change. His dedication to environmental, social, and governance issues, as well as his track record in sustainable development, position him as a valuable asset in the fight against climate-related challenges.
Overall, Diong’s appointment marks a significant step in the global effort to address loss and damage from climate change, and his leadership is expected to bring positive outcomes for those most affected by environmental crises.
