Marialexandra Horna Arrieta’s family hails from a small mountain town in the Peruvian Andes called Tarma, nicknamed the “city of flowers” for its natural beauty. Growing up in one of the most biodiverse countries in the world, Horna often thought of the interconnection between natural resources and the economy, especially as she watched climate change impact the landscape and sustainability of crops in her hometown.
As an economics major, she interned at the Development Bank of Latin America and the Caribbean, discovering green finance as a path that combined her interests in the environment and economics.
Now, Horna is studying abroad for the first time, as one of three recipients of the Stanley Park Climate Finance Scholarship for the M.S. in Climate Finance degree at the Columbia Climate School, offered in partnership with the Columbia Business School. Read more about her story in the interview below.
Can you talk a little about your background and how you became interested in economics?
Growing up, I was privileged to learn English and other languages because both my parents worked in the education sector. My father worked in an English institute and my mom worked in a university, so I had access to these resources. My family is from a little town here in Peru called Tarma, known as the “city of flowers,” but it does not have the same beauty as before. I’ve seen how climate change has impacted this town.
At first, I started studying economics inspired by figures like those in “The Wolf of Wall Street.” But during university, I realized that meaningful work requires passion beyond profit. So I studied economics because I wanted to understand how the world actually worked.
What drew you to climate?
I was doing internships at the Development Bank of Latin America and the Caribbean. The bank wanted to become a green development bank for the region, as a third of our economy depends on natural resources. We are the second most biodiverse country in Latin America. So many things started to connect for me there.
I specialized in green finance, working with the Deutsche Gesellschaft für Internationale Zusammenarbeit (a German development cooperation agency) on projects with Peru’s Ministry of Environment, designing policies to mobilize capital toward nature-positive investments.
I learned there are tools for national purposes, but I realized that it’s not only important to build the structure, it’s also important to talk with places that actually have and offer funding. The public sector did not do that. It was the private sector. That’s when I realized I had to shift my career from policy to investment finance.
I then joined a fund here in Peru that invested in agriculture. I switched to my final role here at the Inter-America Development Bank as an investment associate on the climate team.
Why did you decide to apply to the M.S. in Climate Finance?
I went from having a very national view, focusing on Peru, to a regional view of how specific markets work. Learning what the necessities are not only for Peru, but also for different countries and the main advantages of each country. For example, for Chile, it’s critical minerals; for Uruguay, it’s natural resources and water; and for Argentina, it’s data centers. Identifying these different [resources] across the region was a critical point in my career. I realized I wanted to be a leader who can take this regional agenda and integrate Latin America and the Caribbean into the world discussion. That’s when I came across the Climate Finance program.
I applied in the first cohort and was rejected. Yet I remained convinced this program aligned with my career trajectory.
What are you hoping to come away with from the program?
First, I want to engage deeply with the program’s international cohort. While I understand Latin America’s climate finance landscape, I lack perspective on Asian markets and emerging opportunities there. I want to have a broader perspective on how the international market works.
The second reason is strategic. New York is a cosmopolitan city, and it’s the center of many policy discussions. I want to understand how these discussions are structured or how the international agendas are being built with different consensuses. I think this will help me be a leader who can strategically think about how to position my region within the international agenda.
Are there classes you’re looking forward to taking?
I’m particularly excited about Climate Finance with Lisa Sachs and the knowledge partnerships available through the university’s institutes, such as the Climate Knowledge Initiative. I really want to learn about the discussions that are happening not only in my region but also internationally.
Do you have any advice for people who are looking to get into climate finance?
As someone from Latin America, this path is not a common one. Even though the topic of climate is becoming very controversial in the policy world, I believe future generations like us need to think about the long term and about sustainability. Integrating climate, natural resources and biodiversity into your mindset is really important. If this resonates with you, I genuinely believe it’s a rewarding path.
I feel a personal satisfaction when I finish a project at work and see the impact it’s going to have for people or the environment. My advice is to always recall that passion and think about the positive changes you will make in the world.