President Trump is attempting to reshape the multilateral landscape-–the US has disengaged from the South African G20 presidency, pulled out of the World Health Organisation, and is putting pressure on the United Nations to roll back their programs. Scott Bessent, US Secretary of the Treasury, has spoken of the US intention to ‘reshape the global world order.’
Away from the United States however, the picture looks very different. New models for multilateralism are being developed, with coalitions of the willing being carefully constructed across other major economies. The G20, FfD4 and COP30 present vital platforms for the development of new global governance structures which are fit for purpose and enable all countries to develop green industrial strategies and access sustainable finance, to ensure directed, sustainable and equitable growth.
In this fireside discussion, Professor Mazzucato and Secretary Bárcena will examine new models for economic development that support a just green transition, through directing public finance, building a capable state, and forging collaborations for global equity.
In the words of Secretary Barcena, “We stand at the cusp of a new era. The neoliberal hegemony has demonstrated its glaring failure by promoting an extractivist development model that socializes losses, privatizes profits, impoverishes people and devastates our planet.” Professor Mazzucato built on this in her article for Foreign Affairs, stating that, “the revival of American economic nationalism need not spell the end of a global pursuit of more inclusive, sustainable growth”.
This session will build on Secretary Barcena’s position as Secretary for the Environment and Natural Resources of Mexico, and Professor Mazzucato’s role as an adviser to progressive governments on the tools and institutions needed for economic transformation aligned with climate goals, as well as special adviser to the South African 2025 G20 Presidency, Brazil’s 2024 G20 Presidency, and member of the COP30 Economic Advisory Council.
Meet the panel
- Alicia Bárcena, Mexico's Secretary of Environment and Natural Resources
- Isabel Estevez, Former Deputy Director of Industrial Policy and Trade at Roosevelt Institute’s Climate and Economic Transformation Program
- Mariana Mazzucato, Professor in the Economics of Innovation and Public Value, University College London and Founding Director of the UCL Institute for Innovation and Public Purpose
Key information
- When: Thursday 19th June at 18:00 - 19:30 BST.
- Where: Beveridge Hall, Senate House, University of, Malet St, London WC1E 7HU
IIPP's Forum 2025 - Rethinking the State
The Rethinking the State Forum is UCL IIPP’s flagship annual event, convening global thinkers, policymakers, students, and practitioners to examine how states can build the capacity to drive inclusive, green, and digital transformations. Taking place from 18–20 June 2025, the Forum offers a space for critical reflection and exchange on the evolving role of the state in tackling today’s complex challenges. Through public panels, interactive workshops, and cross-sector dialogues, the event explores themes such as decolonising public administration, rebuilding public institutions, and reconfiguring governance for the common good.
Read more about IIPP Forum 2025
