E T Consultant - Climate Finance
| Job #: | req24224 |
| Organization: | IFC |
| Sector: | Climate Change |
| Grade: | EC2 |
| Term Duration: | 1 year 0 months |
| Recruitment Type: | Local Recruitment |
| Location: | Washington, DC,United States |
| Required Language(s): | English |
| Preferred Language(s): | |
| Closing Date: | 10/2/2023 (MM/DD/YYYY) at 11:59pm UTC |
Description
IFC a member of the World Bank Group is the largestglobal development institution focused on the private sector in emergingmarkets. We work in more than 100 countries, using our capital, expertise, andinfluence to create markets and opportunities in developing countries. Infiscal year 2023, IFC committed a record US$43.7 billion to private companiesand financial institutions in developing countries, leveraging the power of theprivate sector to end extreme poverty and boost shared prosperity as economiesgrapple with the impacts of global compounding crises. For more information,visit www.ifc.org.
In 2021, the World Bank adopted a new Climate Change ActionPlan (CCAP) that aims to deliver record levels of climate finance to developingcountries, reduce emissions, strengthen adaptation, and align financial flowswith the goals of the Paris Agreement. IFC has committed to align 85% of newoperations with the goals of Paris Agreement by July 1, 2023 and 100% of theseby July 1, 2025.
IFCs Climate Business Department (CBD) works across theorganization and beyond to implement the CCAP. The Department is responsiblefor among other things, supporting IFC investment and advisory teams toidentify and account for climate investments, track committed climate finance,partner with the Treasury department on IFCs Green Bond Program, developanalytical tools, lead climate risk management, and develop thought leadershipvia publications and external partnerships.
Within CBD, the Climate Finance & Policy Team (CBDCF) supportsaction leadership on topics such as Paris alignment and climate financeassessment of IFCs investments, structuring of sustainable/green financeinstruments, carbon pricing, climate risk, and impact measurement, as well asupstream climate business-related markets development to mobilize more privatecapital including through carbon credits.
In this context, the CBDCF team seeks to hire three (3) ExtendedTerm Consultants (ETC) to primarily enhance CBDCF support for Paris Alignmentprocesses. Each ETC is expected to support specific sectors in close collaborationwith other specialists and teams across IFC as follows:
1 ETC to primarily cover Infrastructure and Natural Resources (ETC INR);
1 ETC to primarily cover Manufacturing, Agribusiness and Services (ETC MAS); and
1 ETC to primarily cover Financial Intermediaries, including Financial Institutions and Funds (ETC FIs).
All three positions will be based in Washington, DC and report to the Manager of CBDCF.
Duties & Accountabilities:
The Extended Term Consultants will have a crucial role in facilitating the implementation of the Paris Alignment and conducting climate assessments of IFC investments across regions. Their primary responsibilities will include, but are not limited to:
Paris Alignment:
Assessments and Operational Support: Assisting CBD and industry departments in evaluating IFCs investments to ensure they align with the objectives of the Paris Agreement. This will involve conducting screenings and assessments that primarily focus on climate change mitigation aspects, while being able to provide support for climate change adaptation. The assessments will cover projects following both the transaction-based approach and the counterparty-based approach to the Paris Alignment.
Research: Conducting comprehensive research on IFC clients decarbonization plans and strategies to provide valuable insights for decision-making.
Methodology and Policy Review: Participating in reviews of climate-related methodologies and policies, with a specific focus on the Paris Alignment.
Sector Guidance: Contributing to the development and regular update of sector-related guidance notes based on the latest Joint MDB Common Principles for Mitigation Finance and Paris Alignment criteria.
Training Support: Preparing materials for training sessions, webinars, and presentations as needed.
Climate Finance and Related Instruments:
Climate Finance: Identifying climate finance opportunities across IFCs transactions, and supporting systems for accounting, tracking, and reporting to internal and external stakeholders.
Sustainable Finance Instruments: Assisting CBD and industry teams in structuring and developing sustainable finance instruments, such as green bonds, green loans, sustainability-linked loans, and adaptation finance, tailored to clients business and climate commitments.
Thought Leadership: Keeping abreast of emerging trends, research, and developments in the fields of climate finance, transition finance, Paris Alignment and climate disclosures to ensure that IFCs practices and strategy align with the latest market developments.
Collaboration and Teamwork: Contributing to a collaborative and inclusive work environment, including through effective teamwork and knowledge sharing with team members and other departments, particularly industry departments.
Other: Contributing to other activities that the team may be assigned from time to time or as the mandate evolves.
Selection Criteria
To be eligible for the ETC positions, candidates must meet the following requirements:
Education: Hold a masters degree in Business Administration, Finance Science, Engineering, or a related field.
Technical Expertise: Demonstrate strong technical skills with a minimum of 5 years of full-time relevant professional experience in:
Climate change: Expertise in areas such as climate change mitigation, decarbonization, GHG accounting, adaptation, or climate resilience.
Investment/Sustainability Finance: Experience in green bonds, adaptation finance, sustainability-linked loans or other sustainable finance instruments. Practical experience with the investment cycle for private sector projects in emerging markets will be considered a significant advantage.
Sector-specific expertise:
o For ETC FIs: Experience in banking, private equity funds and/or financial products including sustainable finance.
o For ETC MAS: Experience in industrial decarbonization, energy and resource efficiency, industrial processes, climate risk management for real estate, agribusiness, retail and/or services (including health and education).
o For ETC INR: Experience in infrastructure, mining and/or power in emerging markets.
Policy and Market Knowledge: Exhibit a thorough understanding of key climate change policy and market issues, including the latest developments in the field.
Analytical Skills: Demonstrate strong research and analytical skills, including the ability to synthesize key information and proficiently use, Excel, PowerPoint, and Word for data analysis and reporting.
Communication: Possess excellent written and verbal communication skills in English, with fluency in another language being an advantage.
Team Player: Show the ability to work collaboratively, interact effectively with clients and colleagues from diverse cultural backgrounds. Function as a team player, contributing to a positive and inclusive work environment.
Flexibility: Display a willingness to adapt to diverse tasks and expand the scope of work and responsibilities as required.
World Bank Group Core Competencies
We are proud to be an equal opportunity and inclusive employer with a dedicated and committed workforce, and do not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.
Learn more about working at theWorld BankandIFC, including our values and inspiring stories.
Note: The selected candidate will be offered a one-year appointment, renewable at the discretion of the World Bank Group, and subject to a lifetime maximum ET appointment of three years. If an ET appointment ends before a full year, it is considered as a full year toward the lifetime maximum. Former and current ET staff who have completed all or any portion of their third-year ET appointment are not eligible for future ET appointments.