Florentina-Daniela Gheorghe, Skoll Scholar 2018-19, reflects on her own personal learnings moving out of Oxford in September 2019, a few months before COVID-19 struck the whole world.
“You will really understand the value of the MBA after 2-3 years,”
a friend and Oxford MBA alumnus told me last year.
I took the MBA as a reflection and learning year: to get to know myself better, improve my leadership skills, understand my strengths and my values in contrast, get to connect with people from all around the world. Learn not only about myself but about the state of the world: of business, of economics, of government. What a ride it was: from moments of exaltation, to moments of tension, to deadlines, to a variety of projects, to cultural alignment and conflict. A ride that I appreciate more and more with the passing of time.
I moved to Oxford for the MBA in September 2018 and moved out of Oxford in September 2019, a few months before COVID-19 struck the whole world.
I am very grateful for the opportunities that reached me in these hard times.
Here is what happened since September:
I got my visa application rejected for South Africa from UK twice! When I finally received it, COVID-19 was spreading all over the world.
I had my ticket and luggage ready to fly the next day and went to the embassy to pick up my passport: I found an empty passport. I applied again; application was rejected again. I was devastated. I was so excited to spend some weeks in South Africa and do an internship with a cool payment startup for SMEs in Cape Town. I was introduced to the company’s founder by a fellow Skoll Scholar and friend from the Oxford network. Four months later, I received a visa which I never used: by now, it was February 2020.
The wine industry
I worked on a project I never imagined myself working on, in the English Sparkling Wine industry in Hampshire, UK.
With no place to stay in London and no visa for South Africa plans, in November I moved to a beautiful vineyard in the South Downs. What a splendid experience! Extremely grateful to a professor from Saïd Business School who recommended me for the project. For 3 winter months, I spend my days understanding the art of winemaking, the market and the sustainability challenges. I was dreaming to making our brand the first circular wine brand in the world! After walking my dog in the darkness of the vineyard post 4 pm every day, I spent many quiet evenings – a blessing after a busy MBA year. The most fascinating thing about wine making is that every single activity in the vineyard, every single touch of the vine can change the final taste of the wine.
My journey as an independent consultant was just beginning
Building on the relationship I developed during the class “Implementing new initiatives in business”, I continued working with an education technology startup in Oxford and helped the five people team think through its value proposition. So many wonderful ideas can arise when we put our customers’ needs at the center of our business decisions.
Social impact consulting for non-profits
While at the vineyard, far away from the city life, I found myself with extra time in the evenings. Towards the end of November, a colleague and friend at Oxford introduced me to a social impact consulting project for a London based consulting firm. Since then, together with other MBA colleagues, we mapped the fundraising markets in Romania, Egypt, Uruguay, scanned the world for emergency funds for children, and looked at global strategies for expanding the number of regular donors for different international non-profits.
My favorite project so far: access to finance in emerging markets
I got introduced to a skill development institute in East Africa by another colleague at Oxford. Since February, we together looked to map the so-called ‘missing middle financing gap’ for small businesses in Kenya and beyond and understand how we might ensure their access to the most needed capital. Then COVID-19 hit the developed world. Many African countries imposed their own form of lockdown. We are now looking at being part of the mobilization for recovery. 100+ million ‘new poor’: the African continent sees the dark consequences of broken supply chains and economic shut-down. It’s imperative we act.
As a startup founder in an emerging market, I experienced first-hand the struggles for survival in under-developed support ecosystems for entrepreneurs. Talking to some mentors and system change experts, I knew I didn’t want to work in impact investing: there is enough money in the world. It’s the time for investors to step up during the pandemic. However, what the world needs more than ever is support for entrepreneurs to become investable, to survive and recover.
NEW! Climate tech startup
What else can I do from my small office desk in St Albans, UK? This time, my mentor in the Executive MBA cohort, introduced me to a circular economy startup run by one of her colleagues. I joined the team recently. We look to create a circular sourcing gateway for the textile and packaging industry. In my partnership role, I seek to bring people together and write fundraising applications in advance of our MVP launch in July this year. It’s so exciting to see how the world is progressing to circular strategies. Here is one of my favorite videos on the change towards a circular economy.
As I write this in June 2020, there is still a lot of uncertainty in the world post-pandemic. I am humbly trying to do my best to remotely support amazing initiatives. Though, my heart is in emerging markets, on the ground, in the streets, among people.
Daniela is a customer centricity consultant, ex social entrepreneur in ed-tech in India and a Skoll Scholar at Oxford Saïd Business School. Find her on Twitter @ella_gh
Closing the Gap – a series of Oxford University postgraduate student insights to the Skoll World Forum 2018
Gladys Ngetich, Rhodes Scholar and DPhil in Engineering Science at the Department of Engineering Science, reports on the Skoll World Forum session ‘Women and Girls: Catalysing Change in the Climate Crisis’.
The panel – Women and Girls: Catalysing change in the climate crisis
Climate change is without a doubt one of this 21st century’s leading global challenges. Climate change-related disasters like serious floods, mudslides, droughts and severe heat waves continue to ripple across the world causing a staggering number of deaths and losses due to infrastructure damages. Organisations, governments and individuals have realised that there is an inevitable need to address climate change. Thus, they are working around the clock to mitigate climate change-related disasters.
Even as world leaders deliberate on how to counter climate change, it is essential for such discussions to recognise the strong link between gender equality and climate change. In fact, the recent UN Paris Agreement (1/CP.21) acknowledges the necessity for equal representation of both men and women in order to make further progress in the ongoing fight against the negative effects of climate change. Despite the clear link between gender equality and climate change, women in most parts of the world have been barely involved in addressing this grave issue.
The panel – Women and Girls: Catalysing change in the climate crisis
Why is women’s involvement essential in climate change deliberations?
There are obvious gendered impacts of climate change-related disasters, particularly where women, owing to their role as primary carers, are in charge of food, water and cooking fuel. This role and the disproportionately low socioeconomic power of women as compared to men globally, make women more vulnerable when disasters like floods, hurricanes and droughts strike. Indeed, it has been reported that women are more vulnerable than men in cases of climate change-related catastrophes.
Effects of disasters like droughts on women
Droughts affect women in many ways. Water scarcity forces women, especially those in rural areas, to walk long distances in search of water. The scarcity of vegetation and trees as a result of a drought causes women, most especially in developing countries, to spend a lot of time searching for firewood which is the primary source of cooking fuel. This particularly applies to rural women in most low-income countries. All these eat into the time women could be spending for education or starting and running a business. In addition, decreased crop production adversely affects women in rural areas who are largely depended upon for food production. According to recent statistics, women produce 60-80% of the food in most developing countries. Also, in pastoralist communities in Kenya, droughts have been reported as causing an increase in cases of early child marriages.
Women make up approximately half of the world’s population
According to research done by the Brookings Institution, women’s representation in climate change only amounts to ‘24 percent of the 173 focal points to the U.N. Forum on Forests; 12 percent of the heads of 881 national environmental sector ministries; and 4 percent of 92 national member committee chairs to the World Energy Council’. Yet, as highlighted above, women are disproportionately affected by climate change-disasters. Moreover, women constitute over 50% of the world’s population. So far, there has been good progress in terms of efforts to tackle climate change. However, this progress cannot be truly effective and cover all blind spots in addressing climate change, if women are only minimally involved in such deliberations. Efforts to address climate change will only double if women from different backgrounds are brought on board. This will largely be as a result of the value of including their lived experience and the diversity of thought they bring to the table.
Women can take control of family planning—a population-based climate change mitigation strategy
The world’s population continues to soar. The United Nation predicts that the current world’s population of 7.6 billion will shoot to 9.8 by the year 2050 with the largest growth coming from developing countries. Investing in women and girls’ empowerment and quality education will enable them to make informed choices about their sexual and reproductive health. Consequently, this will reduce the unsustainable population growth which accelerates climate change and its effects.
Importance of women’s participation in climate change deliberations
Owing to women’s unique lived experiences and the fact that they are disproportionately affected by climate change-related disasters, they have rich and diverse ground-based experiences, perspectives and knowledge that are essential for identifying and implementing potential sustainable solutions to address climate change. In addition, studies have shown that women play a crucial role in environmental conservation efforts.
In conclusion, climate change is no doubt the world’s greatest challenge which calls for an urgent and sustainable solution. There is a clear gender imbalance where women and girls are barely involved in efforts to address climate change. Going forward there is a dire need to bring them on board as they can be the much-needed agents who can contribute to sustainable climate change mitigation and adaptation efforts.
The generation that destroys the environment is not the generation that pays the price. That is the problem.
Prof. Wangari Maathai – 2004 Nobel Peace Prize Winner and Founder of the Green Belt Movement that has planted over 51 million trees in Kenya.
Forging Common Ground – Series of Oxford Student Insights to the Skoll World Forum 2017.
Seth Collins, Oxford MBA Candidate 2016-17 at the Saïd Business School gives his perspective on the Skoll World Forum session “Carbon Imperialism or Energy Leapfrogging”.
How to balance the ethics and the economics of energy development?
The opportunity is clear for developing countries to forge their own energy infrastructure path, and the question, then, is whether or not they will be empowered to do so with the support of international capital markets.
You see, the banks were not at COP21. In the plenary, we spoke of capitalism’s amorality, and the need to build the playing field to guide the system; currently, argued the panelists “imperialism” hides behind the notion of risk. The risk of funding a energy infrastructure project in a developing country—something everyone agreed was an easy cash flow win if done right—is the risk of a pension fund trusting an institution in a developing country. The fear is that the opportunity is not being realised from the perception, but not the existence, of risk, leading to the paralysis of passive money instead of productive capital.
Of the $300 billion spent last year on clean technology infrastructure, only $22 billion went to developing countries. If we really want to meet the energy needs of developing countries and mitigate climate change with an aim to stay below 2 degrees, that $22 billion need to ratchet up to $500 billion, a multiple of 25x.
This requires transformational solutions. At Skoll, we heard World Bank President Jim Kim refer to the Development Finance Institution industry as a “cottage industry” as he explained how the Bank is working to change its internal incentive structure. He spoke of how to leverage money through the Bank at a 5x rate. While a useful vehicle to enable progress, that 5x multiple comes with the bureaucracy that prevents Kim, a trained doctor, from talking about coal, even though overwhelming evidence now shows that coal should not have a future in the 21st century—in climate, we have already built enough coal power plants that, if they run for their lifetime, will alone put us beyond the ambition of 1.5 degrees; in health, we know that the local costs to health alone from the pollution of a coal power plant are triple its economic benefits over 10 years; economically, renewables are now cost competitive in technology-agnostic auctions across the world and will continue to push coal into the uneconomic realms of generation merit order; and, as we see increased variability in heat waves and droughts, coal power plants will shut down under heat duress and compete with local communities for water access. 5x with bureaucracy is not the 25x we need.
We heard Citi’s Global Head of Environmental Finance and Sustainability outline how the underlying purpose of the two dominant incentives for clean energy infrastructure developed in the US (PURPA) and Germany (FiTs) was to provide a proxy long-term off-taker guarantee, and that to see the take off of energy infrastructure supported by capital markets will require a similar mechanism moving forward. This is the inspired market thinking we need to compliment the socio-political pressure promoting 21st century energy infrastructure jobs.
While calling the banks a cadre of imperialists uninspired to invest in productive change may ring normatively true, it is up to leaders to build the rules, frameworks, and enabling environments through which to pull the uninspired from the passive cubicles of the Street or the City to build the inspiration of billions to have the capabilities to build lives powered by cheap, distributed, and clean electricity.
Neil Yeoh completed his Oxford MBA in 2016 and now works at Echoing Green as a Portfolio Manager to their Climate Change Fellows. He is an advocate for climate change and was recently awarded the title of World Economic Forum Global Shaper at the NYC Hub.
‘There is the natural tendency that all of us are vulnerable to, to deny unpleasant realities and to look for any excuse to push them away and resolve to think about them another day long in the future’ – Al Gore on climate change.
This statement is true in my life. At the age of 16 as an Australian-born Asian I travelled to Xi’an China in search of my ethnic and cultural identity. Instead I found the thick dark smog that covers and chokes a lot of east China today. At the time I selfishly assured myself that Australia far away from air pollution was home, but in time realised that the world air pollution impacts our shared home. I denied the problem for many years but eventually acted knowing the type of ancestor I wanted to be – one who fought the good fight in tackling air pollution and, more prominently, climate change for our future generations.
So when I got the opportunity to attend the UN General Assembly’s action event on climate change and the Sustainable Development agenda on Thursday, 23r March 2017, I was eager to hear about the progress towards realising the 2016 UNFCCC Paris Climate Treaty, and how I could play a better part. Overall progress has been made, but not enough to ensure a less than 2oC rise in average global temperature to avoid the most serious impacts of global warming – where island nations are submerged, extreme weather becomes more frequent, and plants and animals risk extinction.
Here are three takeaways from the event we need to save our world from climate change:
Neil Yeoh attended the UN General Assembly Climate Change event on 23rd March 2017.
More money and smart investments
Solutions exist – but we need more money to invest into renewables. It’s no secret that renewable energies like solar and wind are now cost-competitive with conventional energy production, reaching prices as low as 3 cents per kWh in some markets. Global renewable investments grew almost 700 percent from 2004 to 2015 reaching a record USD 348 billion. It’s a start, but this is still less than half of the funds required to double the share of renewable energy (currently only ~18%) in total global energy consumption by 2030.
To get on track with the money we have, it’s critical that we make smart investments. The UNFCCC, which has USD 10 billion is working to structure current and future deals to scale the impact of renewables. According to Ambassador Howard Bamsey, Executive Director of the Green Climate Fund and custodian of the UNFCCC funds, mixing debt and equity helps to achieve healthy leverage rates, stretching existing money while also funding solutions that can scale impact beyond the money available.
More adaptation and localised solutions
We need adaptation solutions as much as mitigation solutions to climate change. Many scalable solutions are focused on restraining the production of greenhouse gases, but it’s important to also support solutions that help people and environments adapt to an imminent future where the damage is already done. Start-up Coral Vita embraces this approach, aiming to grow climate-resilient coral to sustain ocean ecosystems with rising temperatures and water acidification.
The most effective solutions will be designed to meet local country needs. When I spent time in rural Kenya with M-KOPA Solar, off-grid solar devices were combined with innovative financing to bypass the lack of infrastructure to achieve local electrification. In Finland, the Bank of Aland is issuing a green credit card to tackle climate change in the Baltic Sea, where customers opt in to measuring and offsetting carbon emissions from their financial transactions.
Helping yourself whilst helping others
Countries must abandon isolated mindsets when it comes to battling climate change. Mr Xie Ji, Director General of NDRC’s Department of Climate Change took off his “climate negotiator hat” and reasoned that China needs to look outwards to provide capacity and technical support to neighbouring countries to help them build renewable capacity.
I agree with this philosophy as we cannot expect to reach climate targets at the rate we need without supporting one another through collaboration and shared technologies. To picture this – it’s like the oxygen masks on aircraft safety videos. The instruction to install your mask and masks of your children is applicable in addressing climate change since we are all effectively travelling on the same plane, or in our case, world. We’re all in it together, so if it begins to nosedive we might as have helped each other out in case we make it out alive!
So what can we do?
As custodians of the world today we need to lead by example with our wallets (buying into renewables and green solutions); our minds (enterprising new and scaling existing solutions); and our hearts (working on efforts as a community). Maybe then we’ll have a world our future generations can enjoy, as much as we do today.
Oxford’s Fierce Compassion – Series of Student Insights to the Skoll World Forum 2016.
MBA student Neil Yeoh gives his perspective on the Skoll World Forum seminar session ‘Post-Paris: A New Era in Global Sustainability?’.
It has been just over five months since 195 nations signed the UN Paris Climate Change Treaty – a pivotal step towards global sustainability. However, doctor as every month passes and the champagne stops flowing, people scratch their heads as they consider “the real issue – how do we get there?” – framed by Mindy Lubber, President of Ceres.
A panel made up of the most distinguished climate leaders of today including former president of Ireland and UN High Commissioner for Human Rights – Mary Robinson – discussed this very issue. And amongst the dialogue, five overarching themes emerged:
Changing the conversation – a bigger mindset shift is needed
Pushing for policy change – the world will not self-correct
Enabling access to finance and technology – developing countries cannot do it on their own
Inspiring a larger movement – communities can achieve change
Managing industry change – the transition from dirty to clean will be challenging
Far from the detailed implementation plan everyone was hoping for, the audience may have left dissatisfied still debating how we will get there. However, these feelings and thoughts reveal the true complexity of the challenge that lies ahead to make the treaty a reality. Climate change touches countless nodes of the world’s ecosystem and will need unprecedented global coordination and cooperation to alter course.
But I believe there is hope! If the world’s leaders were able to find common ground on the urgency of global sustainability, the rest of humanity – activists to sceptics – will surely find common ground in the fact that climate change is a real threat to our children and grandchildren. I, as I’m sure many others, can relate to and be compelled to act on that.
From left to right: Dipender Saluja – Managing Director, Capricorn Investment Group (Moderator); Mary Robinson – President, Mary Robinson Foundation – Climate Justice; Thom Woodroofe – Climate Policy and Communications Advisor, Independent Diplomat; Mindy Lubber – President, Ceres; and David Blood – Senior Partner, Generation Investment Management.