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Speaking on the theme “Give to Gain” at the Business School's annual Joan Woodward memorial lecture, Dame Julia Hoggett, London Stock Exchange CEO, highlighted why trust and culture matter for markets – and why access to capital matters for the country

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“Representation influences capital allocation” says Lara Cathcart at Imperial’s third annual Women in Finance event

Shamita Harsh — Mon, 14 Apr 2025 10:15:24 +0000

“Representation influences capital allocation” says Lara Cathcart at Imperial’s third annual Women in Finance event

Shamita Harsh Mon, 14/04/2025 - 10:15

17 March 2026 News

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3 March 2026

Once characterised as a “boys’ club”, the finance sector is undergoing a cultural shift that is reshaping how decisions are made. Greater representation at senior levels is increasingly recognised as influencing how capital is allocated.

Imperial Business School’s third annual Women in Finance event explored how women are influencing capital markets and redefining leadership across sustainable finance.

An investment narrative that is rooted in embracing change

The keynote address was delivered by Hortense Bioy, former Head of Sustainable Investing Research at Morningstar Sustainalytics, who focused on building a more sustainable and inclusive financial future. She explored how geopolitical uncertainty has reshaped sustainable investing strategies, creating both complexity and opportunity.

“The media often debates whether ESG is dead,” Bioy observed. “What we are witnessing right now is an evolution of practices, a recalibration by businesses and investors alike. What’s fading is a version of ESG that relied heavily on labels and was often disconnected from financial outcomes, to make room for pragmatism and realism.”

Her message underscored the importance of data-driven research and thoughtful analysis in navigating rapidly changing markets. She also offered advice to young women entering the sector, encouraging attendees to embrace opportunity: “Step beyond your comfort zone. Visibility and persistence matter. No is rarely the end.”

“Through events like Women in Finance, Imperial Business School reaffirms its commitment to advancing women across the financial sector, creating space for leadership, visibility and meaningful dialogue.”

Lara Cathcart

Professor of Finance, Academic Director for MSc Finance and MSc Risk Management and Financial Engineering

Improving gender inclusion in sustainable finance

The panel discussion, moderated by Fiona Frick, Finance Advisory Board Member and Founding Partner at Circe Invest, examined how female voices are shaping sustainable finance, impact investing and fintech.

Lise Renelleau, Head of Research and Innovation for the IQ Lab at HSBC Asset Management, reinforced the importance of measurable impact. She expressed optimism that as access to high-quality data improves, ESG – once perceived as a top-down imposition – is increasingly being integrated into portfolio construction and reporting. While AI and advanced technologies can enhance data analysis, she stressed that human judgement remains essential in translating information into meaningful insight.

Kamini Banga, Chair of the Banga Family Trust, reflected on her experience working in India, where workplace equity was less established when she began her career. From identifying public healthcare investment needs in rural communities to overseeing family enterprise, she highlighted the importance of a just transition in emerging markets.

Zoe Jankel, Vice President and Senior Credit Officer at Moody’s Ratings, spoke about cultural change within organisations. She noted a shift away from expectations that women must conform to traditionally masculine leadership styles. Increasingly, authenticity is recognised and valued at senior levels.

The evening concluded with remarks from Lara Cathcart, Academic Director for MSc Finance and MSc Risk Management and Financial Engineering. Acknowledging the significant evolution in the finance industry, she reflected that there are still male-dominated pockets, especially at the senior leadership level:

“Representation is not simply about equity; it directly influences how capital is allocated, how risk is assessed, and how innovation is fostered. Through events like Women in Finance, Imperial Business School reaffirms its commitment to advancing women across the financial sector, creating space for leadership, visibility and meaningful dialogue.”

Note: This article's headline was updated from: “Representation influences capital allocation” says Professor of Finance at Imperial’s third annual Women in Finance event on 05.03.2026.

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Imperial Business School’s event showcased female leaders driving sustainable investing, ESG innovation and long-term value creation.

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Opinion: “Good science” needs purpose, accountability and an explicit ethical stance

Marisa Miraldo — Wed, 15 Jan 2025 12:14:02 +0000

Opinion: “Good science” needs purpose, accountability and an explicit ethical stance

Marisa Miraldo Wed, 15/01/2025 - 12:14

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We like to pretend that science is neutral – that our work is insulated from politics, economics and power. But it isn’t. The funding we receive, the methods we choose and, crucially, the questions we ask – and those we never ask – are shaped by funding, performance metrics, history, social norms, and our own biases. To act as if science floats above these forces is not only naïve, it’s irresponsible.

From the 19th century onwards, scientific institutions were deeply entangled with military power, industrial productivity and colonial rule. Funding priorities were set around national prestige and economic gains. Universities adapted by building reward systems around publications, citations, patents and grants. Generations of researchers were trained to see themselves as specialists accountable primarily to peers and promotion committees not to the communities affected by their work. Within this system, a comforting narrative took hold: “I just do the science; what others do with it is not my responsibility.”

Science that harmed

As a professor, I am painfully aware of the historical lessons that demonstrate how damaging scientific work framed as progress can be.

One example is the many leading scientists and physicians who believed they were helping society while promoting eugenics. In practice, it justified forced sterilisation, institutionalisation, and the brutalisation of disabled people, the impoverished, and racialised communities. Meanwhile, the science was wrapped in the language of public good, making it harder to challenge. The echoes of eugenic assumptions that some lives are less desirable persists today, reminding us of the lasting harm scientists can have on society.

Today, algorithmic systems and social media recommendation systems designed to “maximise engagement” have contributed to polarisation, harassment and mental distress. Built by people who may have wanted to “connect the world” or “democratise access” these systems operate in institutional settings that reward growth, not care.

A pattern emerges: decisions are made far from those most affected and the social, historical, and political dimensions of science are often treated as secondary, if they are acknowledged at all.

Ethical science requires governance that travels with the technology – from research question to deployment – and includes the people and communities most affected.

A manifesto for socially responsible science

If good intentions are not enough, what would it take to change? A manifesto is, by definition, unfinished – it is an invitation to collective work. But I would like to start the conversation by setting out some clear commitments.

1. Name the politics of science, openly and early. Make our values explicit in the design, conduct, and communication of research.

2. Redefine excellence. Treat equity, representation, and long-term social and environmental consequences as core criteria of quality.

3. Practice convergence, not siloed brilliance. Treat lived experience, social sciences and the arts as essential intelligence, not decorative.

4. Share power with those most affected. Move beyond token consultation. Communities and groups most affected by research hold real decision-making power over priorities, methods, data governance, and evaluation of impact.

5. Build systematic processes to surface potential harms, including those that fall outside our immediate field of view.

6. Align incentives with responsibility. Push institutions and funders to reward collaborative and justice-oriented science – in hiring, promotion and grant allocation.

7. Refuse institutional silence and require them to align their investments, partnerships, and policies accordingly.

8. Protect dissent and whistleblowing within science to create a culture that produces socially responsible knowledge.

9. Educate for responsibility, not just technique. Embed history, ethics, social theory, and critical reflection into scientific training. Students must learn not just how to generate but how to situate it in the world and be transformational leaders.

10. Hold ourselves accountable. When we invoke “science for humanity,” “precision health,” or “sustainability,” we treat those words as obligations, not slogans. We measure ourselves against the lived experiences of people and ecosystems, not just against citation counts and patents.

How ethical science is embedded in practice

At a time when “science” is simultaneously invoked to defend public policy and attacked as elitist, I believe good science needs purpose, accountability and an explicit ethical stance. These do not sit only in labs and universities: they run through funders, regulators, publishers, governments and yes, businesses that decide what gets built, scaled, and sold.

Initiatives like Imperial’s School of Convergence Science, where I am Co-Director, the Good Science Project, and the “Science for Humanity” strategy, create spaces that prioritise impact and values, question incentives, and redesign how we judge excellence. They will matter insofar as they shift incentives and decision-making: who sits at the table, what counts as excellence, and how harms are identified and acted on.

The question now is whether we are prepared to turn those intentions into structures, commitments, and convergent practices that make responsibility – not just discovery – the organising principle of what counts as excellent science.

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Scientific research needs to extend beyond good intentions. This is my manifesto for socially responsible science – and why it is so desperately needed

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Who decided what ambition looks like?

Poornima Luthra — Wed, 15 Jan 2025 12:14:02 +0000

Who decided what ambition looks like?

Poornima Luthra Wed, 15/01/2025 - 12:14

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Article at a glance

Women do not lack ambition. Dr Poornima Luthra explains that workplaces are still structured in ways that make career progression hard to sustain.

As a result, women are redefining ambition on their own terms, with many turning to entrepreneurship rather than climbing the corporate ladder.

The sheer volume of women leaving their jobs should serve as a wake-up call.
Businesses must rethink how “ambition” and “success” are defined by evaluating their workplace systems and cultures to make sure talent is not being lost due to poorly designed systems.

"Ambition” and “success” need redefining

Women do not lack ambition, as the 2025 Women in the Workplace McKinsey & Company report concludes. But there is a cost to success which has prompted many women to leave the workforce. Ambition is about growth and challenge; it's a personal driver which reflects our individuality.

A recent CNN Business report found that almost half a million women had left their jobs in the US between January and October in 2025 for reasons ranging from poor work-life balance, the cost and challenges of accessing childcare and toxic workplace cultures.

These pressures reflect a deeper structural issue: many workplaces were not designed with diverse career paths or life circumstances in mind.

As a result, many women are turning to entrepreneurship. Women are now starting nearly half of the businesses in the US, according to a recent article in Forbes magazine. A 2024 Wells Fargo Impact of Women-Owned Business Report cites the number of women-owned businesses increasing at nearly double the rate of male-owned businesses between 2019 and 2023. Choosing entrepreneurship doesn’t signal lower ambition. It often signals the opposite — ambition on one’s own terms.

When organisations fail to support diverse forms of ambition, they risk losing talented employees.

Why is this a business problem

The sheer volume of women leaving their jobs should serve as a wake-up call to business leaders. Many organisations are still largely run by men, and gender biases, both subtle and explicit, continue to shape workplace culture. When organisations fail to support diverse forms of ambition, they risk losing talented employees.

How business leaders can redefine ambition and success

We need to make both cultural and organisational changes, with a long, hard look at what ambition and success should look like. Business leaders must redefine these constructs for the workforce and next generation:

On the systems side, leaders must revisit hiring, promotion criteria, pay structures and performance evaluation. If we define ambition solely as vertical progression, we will continue to reproduce inequality and risk losing talented employees.

On the cultural side, leaders must model sustainable success. That means realistic expectations, visible boundary-setting, and rejecting the idea that heroic sacrifice equals commitment.

All leaders and team members should have the agency to challenge bias in their own teams.

Conversations about equity of opportunity must start early, in classrooms and around dining tables, as we speak to young people about success.

Before we question women’s ambition, we need to question the systems we’ve built. If the goal isn’t desirable, the cost is too high and the support isn’t there, disengagement cannot be named as a lack of ambition. It’s simply a rational response to inappropriately designed systems.

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Why the so-called “ambition gap” is really a leadership and systems failure

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Redesigning work: how everyday nudges can transform decision-making

Shamita Harsh — Wed, 15 Jan 2025 12:14:02 +0000

Redesigning work: how everyday nudges can transform decision-making

Shamita Harsh Wed, 15/01/2025 - 12:14

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8 December 2025

Drawing on insights from her latest book Can I Say That? Dr Luthra offers a research-driven exploration of fear as an under-examined force shaping organisational behaviour. Recognised by Thinkers50 in its Top 10 Best New Management Books for 2025, the book is a go-to guide on how to navigate difficult conversations at work and nurture inclusive cultures.

Recognising the many faces of fear at work

Across more than two years of research on resistance and backlash, Dr Luthra has identified fear as the central, often unspoken, force inhibiting inclusion efforts. But fear, she emphasises, is not monolithic. It takes multiple forms: fear of change, fear of discomfort, fear of saying or doing the wrong thing, fear of personal cost, and fear of not making progress.

“Many of us are fearful of fear itself,” she notes. “Workplaces lean toward positive emotions, and difficult emotions are pushed aside. But without understanding what holds us back, we cannot move forward.”

These fears quietly distort decision-making: leaders rely on familiar hiring patterns to avoid risk and organisations double down on symbolic gestures instead of confronting root causes.

A multigeneration approach to decision making

Yet global markets now demand a fundamentally different approach. Customer bases are shifting rapidly, particularly across the Global South, where younger demographics are driving new consumer expectations. “Luxury fashion houses, for example, cater increasingly to young customers in India, China and parts of Africa,” she notes. “These groups want something very different from previous generations.”

To respond, many organisations have introduced “shadow boards” to bring younger talent into decision-making, ensuring leaders stay attuned to emerging trends.

Practices such as reverse mentoring, cross-generational representation in hiring and strategy discussions and transparent decision-making will reframe difference as strategic value.

As Dr Luthra emphasises, “Inclusion is not charity, it’s a business imperative. It yields better innovation, better market alignment and better decisions and outcomes for organisations ready to evolve.”

How employment processes need redesigning and not retrofitting

Amid increasing global resistance to EDI, many organisations feel pressure to reduce visibility or retreat entirely. Dr Luthra advises a different approach.

“This is the time to go under the radar; not to retreat, but to become more strategic,” she says. “Change the terminology if needed. Call it inclusion, belonging, well-being. But do the hard work.”

That hard work includes redesigning employment processes, implementing systemic nudges to mitigate the influence of bias, and equipping teams with tools to make equitable decisions.

“Zero-sum thinking emerges when people feel threatened,” she notes. “Systemic and cultural change reduces that threat by making inclusion feel fair, not imposed.”

Beyond fear, Dr Luthra’s upcoming research turns to a broader organisational challenge: growing polarisation.

“It’s not just EDI,” she notes. “Organisations are divided over remote work, AI adoption, sustainability targets. We are becoming stuck in debate rather than dialogue.”

Hiring for likeability is at the expense of innovation

In today’s world, traditional leadership models built on predictability and control no longer serve organisations. “We still operate in systems designed for the first and second Industrial Revolutions,” Dr Luthra explains. Under pressure to deliver short-term results, leaders often default to hiring for “fit,” reinforcing sameness at the expense of innovation.

Kenji Yoshino’s idea of “covering” refers to the unspoken need for people to “fit” in and integrate into structures and systems that were originally not built for them. Dr Luthra discusses how one can instil microaffirmations to indicate value, respect and build inclusion. This can often look like inviting people whose voices and perspectives have not been heard or whose efforts have not been made visible in the context of contributing to a business.

If there is one message Dr Luthra hopes readers take away from Can I Say That? it is deceptively simple: do not let fear hold you back. She observes: “Fear is human. But progress requires understanding it, naming it and learning to let it go.”

In a world where uncertainties multiply and systems strain under competing expectations, this mindset shift may be the foundation not only for more inclusive workplaces, but for more resilient, adaptive leadership.

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New behavioural research from Dr Poornima Luthra shows how targeted, everyday workplace behaviours can reduce bias, improve decision-making and strengthen organisational performance.

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Dr Harsha Dutta on finance, development and inclusion

Shamita Harsh — Wed, 15 Jan 2025 12:14:02 +0000

Dr Harsha Dutta on finance, development and inclusion

Shamita Harsh Wed, 15/01/2025 - 12:14

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6 October 2025

Dr Harsha Dutta joined Imperial Business School as Assistant Professor of Finance, bringing with him a research agenda that bridges financial economics with development and political economy. Dr Dutta joins us after finishing his PhD in Finance at The Hong Kong University of Science & Technology (HKUST).

His work scrutinises the unique incentives and constraint that households and firms face in developing economies, shedding light on how financial markets and local politics in these economies shape long-term growth and inequality.

“I’m looking forward to working alongside Imperial’s exceptional business scholars and the broader research community,” he says. “London's historical position as a global financial centre, combined with its rich archival resources, provides an inspiring environment for uncovering new insights from the past to inform modern financial policies.”

Finance findings with an inclusion lens

Dr Dutta’s research focuses on how changes to incentives force strategic adaptations that result in different economic outcomes for different sections of the society. His work uncovers insights from novel and unconventional empirical settings, using unique datasets to answer questions that are often difficult to explore in traditional markets. His findings not only advance finance scholarship but also generate insights relevant for policymakers seeking to design more inclusive and effective institutions.

His research draws insights from both contemporary economies and historical contexts. For example, his paper “Unequal Legacies of Financial Crises: Evidence from the Panic of 1873” traces the long-term effects of America’s first major economic depression. Using railroad records and census data across four generations, he shows how urban families displaced during the crisis experienced enduring disadvantages—poorer education, jobs and wealth compared to the unaffected. Such findings provide fresh perspectives on how financial shocks can shape inequality for more than a century.

Dr Dutta’s research has been recognised by leading institutions. He was awarded the SBM PhD Research Excellence Award (2024–25) at HKUST, where he completed his doctoral studies, as well as the Best PhD Paper Award at the HKUST Business School PhD Conference. His work has also attracted grant funding from the NSE–NYU Stern Initiative on the Study of Indian Capital Markets, a joint venture of the National Stock Exchange of India (NSE) and the Center for Global Economy and Business at NYU Stern School of Business.

By examining evidence from distinctive historical and development settings, Dr Dutta illuminates mechanisms often hidden in conventional data. His approach underscores not only the economic but also the social and political implications of financial systems.

His broader academic contributions include publications in top-tier general interest journals such as Science Advances. His work has enabled him to provide new evidence on key questions in financial economics while generating insights relevant for both academic research and policy design.

Shaping financial dialogue for ��ý at Imperial

Dr Dutta is eager to continue exploring how the interplay between financial systems and institutions shapes economic outcomes, while contributing to the School’s interdisciplinary approach to business research. By drawing on his expertise in both historical and contemporary settings, he aims to teach ��ý to think beyond conventional boundaries and uncover hidden patterns, fostering dialogue across economics and policy and equip them with know-how to identify how today's policy changes and market shifts will create tomorrow's unintended consequences.

Dr Dutta brings fresh perspectives to the study of finance and his arrival at Imperial signals an exciting step forward in the School’s ambition to deepen understanding of how financial systems can promote growth while addressing inequality in an interconnected world.

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Exploring how finance shapes growth and opportunity through the lens of history

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Jasmin Moshfegh on the economics of healthcare innovation

Shamita Harsh — Wed, 15 Jan 2025 12:14:02 +0000

Jasmin Moshfegh on the economics of healthcare innovation

Shamita Harsh Wed, 15/01/2025 - 12:14

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30 September 2025

Understanding how new medical technologies diffuse through health systems, especially including who gets access to them, is central to Dr Jasmin Moshfegh’s research. Joining Imperial Business School in 2025 as Assistant Professor of Economics & Public Policy, she brings a research agenda that sits at the intersection of health economics and healthcare innovation.

How precision medicine and health equity intersect

Her work examines the causes and consequences of healthcare innovation, with a focus on precision medicine, AI and assisted reproductive technologies. By combining quasi-experimental methods with large administrative datasets and cancer registries, she sheds light on how institutional and policy choices shape both efficiency and equity in healthcare delivery.

Her job market paper, supported by the US Agency for Healthcare Research and Quality (AHRQ), studies the adoption of genomic testing in breast cancer care—showing that while precision medicine can reduce unnecessary treatments, it may also exacerbate racial disparities.

Dr Moshfegh completed her PhD in Health Policy (Economics) at Stanford University, where she was also a T32 Fellow and R36 awardee from AHRQ. She went on to hold a Postdoctoral Fellowship at Stanford, alongside appointments as a Fellow at the US Department of Veterans Affairs and the National Cancer Institute at the National Institutes of Health. Her research has been supported by grants from the Agency for Healthcare Research and Quality, the SIEPR George P. Shultz Fund and the Sweden-America Foundation.

Extending research into new frontiers

Dr Moshfegh studies the causes and consequences of healthcare innovation, with a particular focus on information technologies. She is extending her work to explore the impact of next-generation diabetes drugs in the US Veterans population and the role of AI tools in improving women’s health in India.

Reflecting on her move to London, she said: “What excites me most about joining Imperial is the opportunity to be part of a department and institution that sits at the intersection of cutting-edge research, interdisciplinary collaboration, and real-world impact. Imperial’s unique ecosystem brings these disciplines together in a way that few other places can.”

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Dr Moshfegh discusses how her research in precision medicine is aimed at reducing health inequalities

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Balancing climate ambition and energy security: The case for renewable acceleration in Indonesia

Milica Fomicov — Wed, 15 Jan 2025 12:14:02 +0000

Balancing climate ambition and energy security: The case for renewable acceleration in Indonesia

Milica Fomicov Wed, 15/01/2025 - 12:14

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21 July 2025

For a nation rich in natural sources for renewable power generation and with aggressive targets to decarbonise, Indonesia currently exploits just a fraction of its potential renewable power – could it accelerate the transition?

Indonesia harnesses just 0.3 per cent of an estimated 3.7 TW of potential renewable electricity. Yet the Southeast Asian nation has ambitions to slash its use of coal by 2040 – well ahead of a previous 2056 target. By then, the government aims to generate 75 GW of renewable energy, reaching climate neutrality by 2050 – a decade earlier than previously pledged.

These are highly ambitious targets for a nation reliant on coal for 67 per cent of power generation, compared to 12 per cent from renewables. Indonesia is the world’s fifth largest operator of coal fuelled electricity and seventh largest emitter of greenhouse gases.

But if the region’s largest economy can overcome barriers to adopting clean energy, could it become a trailblazer for other emerging economies in balancing energy security, economic growth and climate action?

Today, Indonesia’s energy sector requires not only hefty investment, but also radical reform.

These climate targets require an estimated 1.2 trillion USD by 2050 for clean energy generation, storage and transmission as per the Institute for Energy Economics and Financial Analysis.

But despite its vast potential, investment in renewables in Southeast Asia has been scant to date. Funds have poured into Vietnam, with Indonesia lagging, despite its huge potential. For every USD invested in Southeast Asian renewables, another goes into fossil fuels – well above levels of Latin America at 0.2 USD and China at 0.3 USD.

Huge investment is also required to modernise distribution grids and energy storage across the islands to meet growing demand. Many islands and remote communities would benefit from the creation of local microgrids

What are the barriers to renewable investment?

Spread across a huge archipelago of some 17,000 islands, Indonesia faces logistical and political hurdles as well as financial. Renewable energy is often far from where it’s most required by industry.

State owned energy utility Perusahaan Listrik Negara (PLN) holds a monopoly over energy generation, transmission and distribution. While the grid – currently designed around central coal fired stations - needs to modernise, private investment is hampered by PLN’s control of licences even in locations where it doesn’t currently operate, but might do so in the future.

There is also a shortage of renewable procurement possibilities. Industrial consumers could potentially generate their own green power from localised renewables rather than relying upon the centralised grid. But such projects might be dispersed far across the archipelago, and investors are often deterred by small scale, distant projects.

While renewable energy technology has improved and prices have fallen, the cost of financing remains high, partly down to uncertainty over energy policy. This reluctance will continue as long as Indonesia’s existing subsidies on coal and gas continue to influence energy prices.

Huge investment is also required to modernise distribution grids and energy storage across the islands to meet growing demand. Many islands and remote communities would benefit from the creation of local microgrids, but again this is constrained by PLN’s control of operations.

Progress has also been slow from Indonesia’s Just Energy Transition Plan (JETP), unveiled in 2022, which targets 20 billion USD to help Indonesia cut emissions. Although the US has withdrawn as a partner, the remaining nine international partners maintain this won’t hinder commitment, although only a fraction of funds pledged have been disbursed to date.

Policy priorities – how to unlock Indonesia’s renewable energy

Indonesia’s existing subsidies for fossil fuels should be addressed to create a level playing field for renewable energy. Contracts with fossil fuel power plants are too inflexible and could be renegotiated to accelerate the move away from coal.

More efficient and transparent costing for renewables, assisted by improved clean energy auctions would benefit the market. New feasibility studies and the acquisition of land would help improve the pipeline of new renewables projects.

Better mechanisms for international finance and a healthy domestic finance market would help drive investment.

State utility PLN could press ahead with ‘power wheeling’ – allowing private companies to sell renewable electricity directly to corporate customers using state-owned transmission and distribution infrastructure. This could unlock private investment for renewables and accelerate their development, as well as generating income for PLN – access to renewable energy can help attract investment from major global firms.

Positive steps towards innovation

An innovative ‘de-dieselisation’ (or diesel replacement) programme is underway to help Indonesia’s islands shift to renewables - some 2,000 islands currently rely upon diesel or have no energy supply. Since 2022, PLN has begun replacing more than 5,000 diesel power plants with renewable energy with the aim of bringing reliable cheap and clean power to communities. A first wave saw solar power installed in 94 locations, enabled by private investment, and future sites will also use biomass and mini-hydro generation. Ultimately the project aims to deliver 265 MW of renewable energy and provide 1.1 million new and improved connections, as well as creating some 350,000 jobs.

Further positive steps have been identified in our Imperial Business School and IEA ASEAN renewables report, including a JETP supported pledge to accelerate the closure of coal power plants and the announced early closure of a plant in West Java scheduled for this year. New policy initiatives in motion such as the New and Renewable Energy Bill could pave the way for more private investment.

Collaboration among international investors, the Indonesian government and the private sector is critical – but this can’t happen without policies to open Indonesia’s energy sector to competition and level the playing field for renewables, ultimately creating a more diversified energy market.

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With vast untapped resources and bold climate goals, Indonesia stands at a crossroads in its clean energy transition

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Why passionate men succeed, even when they’re mediocre: Professor Celia Moore writes in the Harvard Business Review

Evie Burrows-Taylor — Wed, 18 Dec 2024 15:43:42 +0000

Why passionate men succeed, even when they’re mediocre: Professor Celia Moore writes in the Harvard Business Review Evie Burrows-Taylor Wed, 18/12/2024 - 15:43

9 December 2024

Inequality

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Profile: Professor Anita Patel goes behind-the-scenes of health economics

Evie Burrows-Taylor — Tue, 29 Oct 2024 11:40:54 +0000

Profile: Professor Anita Patel goes behind-the-scenes of health economics

Evie Burrows-Taylor Tue, 29/10/2024 - 11:40

29 October 2024

Recently appointed Provost's Visiting Professor of Health Economics, Anita Patel explains the "quiet" but significant impact of health economists.

Last year, House of Commons research estimated the COVID pandemic cost the UK public up to £410 billion – around £6,000 per person. When such figures are involved, it’s easy to appreciate the importance of economics in addressing healthcare challenges: from modelling the scale of risks, to assessing the cost-effectiveness of solutions.

Nevertheless, health economists – the specialists who do this work – don’t tend to find themselves in the limelight. As Professor Anita Patel, who recently joined Imperial as the Provost’s Visiting Professor of Health Economics, puts it: “Health economists have a significant role in policy and practice, but they tend to do it quietly from the sidelines.”

Resourcing healthcare

“Pretty much every healthcare system in the world is struggling with resourcing what their populations need,” Professor Patel, whose role is a joint appointment between the Business School’s Department of Economics & Public Policy and Imperial’s School of Public Health, explains.

“The bread and butter of health economics is to help define the economic implications of such challenges, evidence or estimate the value of new solutions in a resource-constrained context, and support their implementation into policy and practice. By showing that you can, for example, save millions across a system, or even wider society, just by intervening at a different stage, you can help gain policy interest.

“New interventions and approaches are constantly being developed. There are also many that are already evidenced to be cost effective but not yet optimally implemented in terms of being delivered in the right amounts, to the right people, at the right time. Health economists facilitate this by bringing a social science perspective to practical healthcare delivery challenges.”

Evaluating health policies and programmes

Although she joins Imperial with 23 years in academia under her belt, Professor Patel has certainly not taken a conventional route to her new role. After academia, she became a freelance health economics consultant, working on projects as diverse as supporting charities to get awareness of specific conditions on the political agenda, and helping tech companies develop their value propositions to pitch products and services to the UK's National Health Service.

And then, at the end of the pandemic, she was ready for a role with more consistent human interaction and work that was closer to national policy. So rather than moving back to mainstream academia, she took up an unusual opportunity at research consultancy Ipsos UK.

An important part of my job is being visible as an ethnic minority woman in a senior position, which is unfortunately still uncommon

“That was a revelation for me,” Professor Patel says. “I realised there are ways to do research within a good work culture that is sadly sometimes lacking in academia. We were evaluating policies and programmes in real time: fast, complex work that was tough but hugely satisfying because the impact was clear and immediate.” The entrepreneurial dimension of the role also played to her strengths.

That experience of working collaboratively, with teams coming together at pace through matrix structures around projects, rather than people, suited her. “It was a surprisingly good fit with how my brain works and felt a more productive and comfortable culture than I’d previously experienced. Interestingly, it was female-dominated,” she explains.

Diversity in academia

“And that’s why the role at Imperial really spoke to me,” she says. “Unlike a traditional academic role, it specifically has a collaborative and equality, diversity and inclusion remit, in a specific timeframe.”

As the Provost’s Visiting Professor of Health Economics, Professor Patel will work between the Business School and the School of Medicine for one year, which each have a group of health economists. “The group at the School of Medicine has a specific focus on infectious disease modelling,” Professor Patel explains. “And the group at the Business School looks more at addressing public health issues through policy.”

A key focus of her role will be to support Imperial in extending its health economics work and capacity. “Economic evaluation of new interventions is where my main experience lies, and that’s a recognised gap at Imperial. That kind of work is vital to support clinical and health innovation research, and it opens up funding streams for the university too.”

Pretty much every healthcare system in the world is struggling with resourcing what their populations need

Of course, this won’t happen overnight, so there will be an initial need to strengthen existing partnerships. “That’s something I can help with, using my networks and experience in building health economics capabilities elsewhere,” says Professor Patel.

There’s also another element to the role. “An important part of my job is being visible as an ethnic minority woman in a senior position, which is unfortunately still uncommon,” she explains. “That includes mentoring and supporting staff and ��ý across the university, and it’s something I’m passionate about, having myself experienced many biases in academia.”

Ultimately, it feels like a case of the right position, at the right time. “I was feeling that it was my time to do something, and it’s clear from the role that the Provost is genuinely committed to making a difference in this area, so it’s a timely and opportune role for me.”

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