Mr. Pradeep Tharakan (PFM 1992-94) is the lead for sovereign energy lending operations within the Greater Mekong sub-region (GMS), for the Asian Development Bank (ADB). The ADB is a multilateral development bank owned by India and 67 other members. Within this region, he works with governments and state-owned power companies to provide advice, and design, finance and implement large clean energy infrastructure projects and programs, including wind and solar power plants, transmission infrastructure, and energy efficiency measures.
During his 10 years at ADB, he has been involved in the origination, implementation, and close-out of public sector energy infrastructure projects and programs in Southeast Asia totaling USD 2.5 billion. This includes renewable energy projects, large hydro power projects, and cross-border power trade projects. He has also worked on advisory projects across a variety of technology areas such as solar auctions, off-shore wind power development, carbon capture and storage, rural electrification, and energy-efficient lighting, and financing modalities such as blended finance and sustainability bonds.
He is based in Bangkok, Thailand.
Q. How has been your journey from IIFM to this role?
A. I graduated from IIFM in 1994 at the age of 22 and spent the next two years exploring a variety of sectors and types of organizations. I spent a year in Kochi, Kerala, as the Executive Assistant to the CEO of a plywood manufacturing company. I then moved to Dewas, Madhya Pradesh, to work on a joint forest management research project run by the University of Edinburgh. After about 8 months, a bout of Hepatitis sent me scurrying home to Bangalore, Karnataka, where I signed up with Quantum Market Research, which was then India’s first and only qualitative market research firm. There, I conducted research for major MNCs on their India entry strategy and positioning of their brands.
In 1996, I decided to quit work and follow my educational aspirations and head to the US. I had always wanted to do doctoral-level work on energy and environmental issues. I enrolled for an MS/PhD in Environmental Science at the State University College of Environmental Science and Forestry (SUNY-ESF). IIFM students might be interested to know that ESF is the oldest environmental science institution in the USA and is routinely ranked among the top 5 “green colleges” in the US.
While I pursued PhD research on woody biomass energy systems, and energy plantations, I continued to be very interested in the energy-economy-environment nexus and started to work on topics such as global climate change, fossil fuels markets, incentives for renewable energy, etc. In early 2000, I realized that while I was good at conducting scientific research (and had published several journal articles as evidence), what I really wanted to do was combine environmental science and technology with public policy, to help develop and deliver large clean energy infrastructure solutions in developing countries. And so I enrolled for a Masters in Public Administration (MPA) at the Maxwell School of Citizenship and Public Affairs, Syracuse University, which was right next door to SUNY-ESF. Maxwell’s MPA is a top-ranked program in the US. I met my wife, Ira, at Maxwell. She was specialising in development finance and microfinance. I graduated with a PhD and MPA in 2003 and moved to Washington, DC, where I joined a boutique consulting company that undertook energy and environment-related projects in developing markets for USAID and other clients. I conducted several technical studies, feasibility studies, and support policy dialogue in Africa, South Asia and Southeast Asia. A few years later, in 2010, I joined ADB and we moved to Southeast Asia.
Q. What were some of the key milestones/learning in this journey that you would like to share with us?
A. I would highlight three key lessons that I learnt during my journey:
1. Embrace multi-culturalism– IIFM provided me with an opportunity to interact with people from all over India. This love for languages and diverse cultures gained at IIFM has stayed with me and helped me immensely in my work. 2. Adopt life-long learning – In a world, where the quantum of available knowledge is ever-expanding at a rapid pace, there is no alternative but to read and learn constantly. 3. Have multiple careers – Remember, Yeh Zindagi Na Milega Do Bara! Remember to balance out your career with perhaps a second career or semi-professional interests such as music, writing, etc. See article by Kabir Sehgal in the Harvard Business Review, on why we should have multiple careers –https://hbr.org/2017/04/why-you-should-have-at-least-two-careers). My IIFM batchmate, Pranay Lal is a great example. He is a respected professional in the public health space but also finds the time to write on natural history and his first book, Indica, was very well-received. My second career is that of an amateur angel investor. Over the past decade, I have made early-stage investments (and some exits too!) in a portfolio of companies focused in areas such as inclusive finance, Eco-tourism, sustainable packaging, micro-mobility, and energy management solutions.
Q. What is the most satisfying part of your current role?
A. I tell myself that I am in the business of behavior change. I work with senior government officials in several countries, and get them to consider new ways of doing business, and wean them away from the status quo, which is fossil fuel utilization, to cleaner forms of energy. While, I do have advanced training and expertise in a few areas, more than anything, I see myself as a problem solver, rather than a domain expert. As I work across a range of technology areas, commercial issues, socio-economic issues, and geographies, I cannot be an expert in all these things. I strive to work with teams of experts, to enable my clients to develop solutions that they can implement effectively, and help them do it well. And I feel satisfied that I am putting my energy and training and experience, to work on local and global energy-environmental problems that will have a lasting impact on the world.
Q. Has your learning at IIFM helped in shaping how you approach your professional roles?
A. The multidisciplinary curriculum, the fieldwork, and practical training, that helped hone sociological research methods (which helped me slip in easily even into the world of market research and global brands while at Quantum), and the case study discussions – that taught me to analyze a problem, identify key attributes that need addressing, and construct solutions- have all served me well in my professional roles.
Q. Who (or what) are the biggest influences or drivers in your careers? What would be your advice to freshers and IIFM graduates who are looking to choose similar sectors/roles.
A. Advice to IIFM students and recent graduates: 1. Be strongly oriented to the public good, and to environmental health: Whatever you do, always keep the public good and environmental health front and center. Regardless of the professional space you are in, look for ways to make a positive impact on both these issues. 2. Work across disciplines and connect the dots: While you may spend time gaining skills in a particular discipline, remember that the world is constantly changing, and to survive, one must adapt constantly, learn new things, and work across disciplines. Connecting the dots is something that many people cannot do very well. And so, if you can do it, you will thrive. And this requires continual learning, working very hard, and signing up for things that are outside your comfort zone, and not being afraid of failure! I would recommend reading Daniel Pink’s, A Whole New Mind, on the traits that would define success in the coming years. A lot of skills that commanded high wages in the past will become automated and so it is the so-called “soft” skills that will help define success in the coming years. 3. Passion and resilience are core to success: While talent counts, effort counts for twice as much! Angela Duckworth in her best selling book titled, Grit, talks about how Talent*Effort = Skill, and Skill*Effort = Achievement. And so, while talent factors once in the calculation of achievement, effort factors twice in the calculation! And what this means that having focus and putting in the effort, and being able to bounce back from failure and go back to putting in the effort, is a key ingredient to being successful. 3. Ultimately, it all comes down to the ability to build relationships: It is ultimately about people – peers, subordinates, supervisors, clients, and stakeholders. Managing human relationships is core to any project, investment or policy implementation process, and the one that can manage relationships best does well. And not paying attention to relationships can derail the best technical solution.
Q. What are your favorite memories during your IIFM days?
A. There are so many of them. I would highlight the night-time signing sessions in the quad, the long hours spent in the library, and our field trips, as favorite memories. Vineet, Ram, and I had established what we called the “Grazing Cows”, a group that reveled in singing popular Hindi songs in the worst possible manner. And we would assemble in the quad usually around midnight, and sing on top of our voices.
Q. In hindsight, what was the biggest contribution (courses, faculty, library, friends, alumni.. Anything else!!) or take away from IIFM that you think played a critical role in shaping you as an individual or professional?
A. The multidisciplinary curriculum that highlighted sustainability was a key contributor. I believe IIFM in many ways initiated the so-called “Green MBA” concept even before that concept gained currency amongst US universities. It was a real privilege to study in a well-appointed campus, interact with bright classmates from all across the country, and learn from some very passionate and accomplished teachers.
Q. The best buddies / seniors /faculty at IIFM? Some memorable tidbits that you like to share?
A. I made friends- for- life at IIFM. We were a small class, and I have cherished memories of all my classmates, and seniors.
Q. As an alumnus, what’s your advice to freshers or those who are joining IIFM to get the best out of the 2 years there?
A. These are the best years of your life – live it to the fullest. Work hard, play hard, and be sure to make friends for life.
Q. What is your typical day at the office?
A. My typical day is long! On any given day, I interact with economists, financial specialists, lawyers, sociologists, and environmental specialists. On an average day, my activities, include: conversing with clients on new project origination, tracking implementation of projects, or preparing loan documentation that would be submitted to the ADB board for financing approval, and engaging in policy dialogue with governments, the private sector, and development partners. And being part of a large organization, there is always lots and lots of paperwork, and compliance-related procedures to trudge through!
Q. You would like share about your typical weekends.. Hobbies.. Family..
A. I travel a lot for work and tend to be on the road for as much as 120 days a year. Therefore, the weekends I am home are sacred to me. And I spend them mostly with the family. I also try and bike or run when I can.
Q. Favorite Books, movies, authors, ..
A. I am a history buff. I also like medical and science writing and books on natural history. My favorite authors are Siddhartha Mukherjee, Atul Gawande, and Jared Diamond. I am currently reading, Why the West Rules for Now, by Ian Morris, and Winners take All, by Anand Giridhardas.
Q. IIFM is driven by alumni’s passion and commitments towards its goal. How would you like to contribute to IIFM or IIFM alumni, students?
A. I leave that to IIFM and IIFM students to tell me how they would like me to contribute.
Q. What do you think is different at IIFM now vs when you studied there? What do you think is a positive change and what is not?
A. The student body is larger and that is a good thing. India and the world need more professionals working on sustainability issues, and a larger student body means more alumni and a wider network. And now, more than ever before, the world is keenly focussed on environmental and social sustainability and so it is a great time to be getting trained in this space.
Q. Any suggestions on who from our alumni you want to get profiled/interviewed here?
A. Pranay Lal, Paul Basil, Nikesh Sinha.