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Freeing the world of poverty is the predominant goal of the World Bank, one of the largest sources of funding and knowledge for developing countries. And one of the most important factors in achieving that objective is providing reliable and affordable electricity to the more than 1 billion people around the world who lack it now.
In this episode of the Columbia Energy Exchange, host Bill Loveless talks to Riccardo Puliti, the top energy official at the World Bank. As a senior director and head of the Energy and Extractives Global Practice at the bank, Riccardo leads a team of 400 professionals who develop policies and financing in these industries, with a portfolio of some $40 billion.
Bill and Riccardo met recently at his office at World Bank headquarters in Washington, two years after their first conversation on the Columbia Energy Exchange, when Riccardo was still new to the job. They talked about what’s happened since then, including stepped-up efforts at the bank to promote access to renewable energy in remote regions like Africa and Southeast Asia and to address the threats of climate change.
Always an optimist, Riccardo finds satisfaction in the progress that’s been made to expand access to cleaner types of energy, though he acknowledges more needs to be done. And he’s keen on the potential of new technologies like energy storage. But he also makes clear the bank’s concerns over climate change, whose potential impact is of growing concern to nations around the world.
Of course, he and Bill were meeting as the World Bank awaits a new president, following the resignation of Jim Yong Kim earlier this year and the Trump administration’s nomination of David Malpass, an official at the U.S. Treasury Department, to replace him. Will energy and climate policies change under the bank’s new leadership? Not surprisingly, Riccardo responded carefully, saying, “We have to wait until the new president comes and then see what kind of dialogue takes place.”
Prior to joining the World Bank, Riccardo was the managing director in charge of energy and extractive industries at the European Bank for Reconstruction and Development. He started his career at Istituto Mobiliare Italiano in 1987 before moving to Banque Indosuez and NM Rothschild where he worked in equity capital markets, always in the energy and infrastructure sectors.
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Six Key Issues That Defined Climate Week 2025
CGEP scholars reflect on some of the standout issues of the day during this year's Climate Week
Blog
by Erica Downs, Dave Turk, Kate Guy, Gautam Jain, Luisa Palacios, David Sandalow, Vivek Shastry & Jack Andreasen Cavanaugh • October 10, 2025
Renewable Energy Development in the GCC: Progress Made and Challenges Ahead
Gulf Cooperation Council (GCC) countries have not only the world's lowest costs for oil and gas production but also the lowest costs for electricity generated from renewable energy sources.
