The quest to provide sustainable energy solutions in underserved regions is gaining momentum, driven by a new wave of leadership. Leslie Maasdorp, the newly appointed CEO of British International Investment (BII), envisions a future where renewable energy can be harnessed to uplift millions of lives while ensuring environmental sustainability. With a career spanning development finance, climate finance, investment, and politics, Maasdorp brings a wealth of experience to this mission. His ambitious plan involves expanding BII’s role as a leading green finance institution, leveraging private capital to foster economic growth in emerging markets.

BII has already made significant strides in various sectors across Africa, Asia, and the Caribbean. Last year alone, the organization invested £1.3 billion in projects ranging from renewable energy to agriculture and infrastructure. By focusing on countries that need to transition towards cleaner energy sources, such as Indonesia and Vietnam, Maasdorp aims to address both environmental challenges and developmental needs. Despite some criticisms regarding its focus on middle-income countries, BII continues to achieve remarkable milestones. For instance, its investments in Ethiopia have significantly reduced internet costs, while in India, it has supported innovative technologies that empower rural communities with solar-powered food preservation systems.

BII’s approach is rooted in creating what they term “economic multiplier benefits.” Profits generated from successful ventures are reinvested into new projects, generating taxes that fund essential public services like healthcare and education. This cyclical model ensures that the benefits of investment extend far beyond immediate financial returns. Moreover, BII often takes on higher risks than commercial investors, targeting opportunities that promise the greatest societal impact. By operating primarily in the private sector, especially in frontier markets, BII paves the way for other investors to follow, thereby expanding the overall investment landscape. Maasdorp emphasizes that addressing the global climate crisis and promoting development are intertwined goals, necessitating collaborative efforts between public and private sectors. Ultimately, his vision underscores the importance of innovation and partnership in building a sustainable future for all.