Date of Closing: 10/2/2023 (MM/DD/YYYY), 11:59 p.m. UTC | Climate Finance Job Vacancy In US | The World Bank
Climate Finance E T Consultant
Job number: req24224
Institution: IFC
Climate Change Sector
Level: EC2
Term One year and 0 months
Type of Recruitment: Local Recruitment
Location: United States, Washington, DC
Language(s) required: English
Climate Finance Job Vacancy In US
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Description
The World Bank updated its Climate Change Action Plan (CCAP) in 2021 with the intention of providing developing nations with unprecedented amounts of climate finance, lowering emissions, enhancing adaptation, and coordinating financial flows with the Paris Agreement’s objectives. By July 1, 2023, IFC has promised to have 85% of its new activities in line with the Paris Agreement’s objectives, and 100% by July 1, 2025.
The Climate Business Department (CBD) of IFC collaborates with other departments and external partners to implement the CCAP. The Department is in charge of, among other things, assisting IFC investment and advisory teams in locating and accounting for climate investments, tracking committed climate finance, collaborating with the Treasury department on IFC’s Green Bond Program, developing analytical tools, taking the lead on climate risk management, and establishing thought leadership through publications and partnerships with outside organizations.
The Climate Finance & Policy Team (CBDCF) within CBD supports action leadership on issues like Paris alignment and climate finance assessment of IFC’s investments, structuring of sustainable/green finance instruments, carbon pricing, climate risk, and impact measurement, as well as upstream market development for climate business-related markets to raise more private capital, including through carbon credits.
To improve CBDCF support for the Paris Alignment procedures, the CBDCF team is looking to engage three (3) Extended Term Consultants (ETC). Each ETC is required to work closely with teams and other experts throughout IFC to support particular sectors as follows:
- 1 ETC (ETC INR), which will primarily cover infrastructure and natural resources;
- 1 ETC, which will largely address Manufacturing, Agribusiness, and Services; and
- One ETC will encompass Financial Intermediaries, including Funds and Financial Institutions (ETC FIs).
The Manager of CBDCF will oversee all three roles, which will all be headquartered in Washington, DC.
Accountabilities & Duties:
In order to facilitate the implementation of the Paris Alignment and carry out climate evaluations of IFC investments across regions, the Extended Term Consultants will be of critical importance. Their main duties will comprise, but not be limited to:
French Alignment:
- Evaluations and operational support: helping the CBD and industry departments assess IFC investments to make sure they are in line with the goals of the Paris Agreement. This entails conducting screens and assessments that mainly concentrate on issues of climate change mitigation while being able to offer support for adaptation to climate change. The evaluations will apply to initiatives that use both the counterparty-based and transaction-based approaches to the Paris Alignment.
- Research: To provide useful information for decision-making, in-depth research is being done on the decarbonization plans and strategies of IFC clients.
Participating in reviews of climate-related approaches and policies, with an emphasis on the Paris Alignment in particular.
- Sector Guidance: Participating in the creation and ongoing revision of sector-specific guidance notes based on the most recent Joint MDB Common Principles for Mitigation Finance and Paris Alignment standards.
- Support for training: Creating materials as needed for webinars, presentations, and training sessions.
Financial Instruments Related to Climate Change:
- Climate Finance: Locating opportunities for climate finance throughout IFC transactions and providing systems to assist accounting, tracking, and reporting to internal and external stakeholders.
- Sustainable Finance Instruments: Supporting industry teams and the CBD in structuring and producing sustainable finance instruments, including as green bonds, green loans, sustainability-linked loans, and adaptation finance, customized to clients’ business and climate commitments.
In order to make sure that IFC’s operations and approach are in line with the most recent changes in the market, thought leadership involves keeping up with new trends, studies, and advances in the fields of climate financing, transition finance, Paris Alignment, and climate disclosures.
Collaboration and teamwork: Making a positive contribution to a cooperative and welcoming workplace, particularly through efficient teamwork and knowledge exchange with team members and other departments, especially those in the sector.
Other: Participating in additional tasks that the team may occasionally be given as the mission changes.
Selection Standards
The following qualifications must be satisfied in order for candidates to be qualified for ETC positions:
- A master’s degree in business administration, finance science, engineering, or a closely connected discipline is required.
- Technical expertise: With at least five years of full-time, relevant professional experience, demonstrate good technical abilities in:
- Climate change: Knowledge of topics like GHG accounting, climate resilience, adaptation, or mitigation of climate change.
- Investment/Sustainability Finance: Knowledge of sustainable financial products such as green bonds, adaption financing, sustainability-linked loans, etc. Practical knowledge of the investment cycle for projects in the private sector in emerging markets will be seen favorably.
- Industry-specific knowledge: Experience in banking, private equity funds, and/or financial products, such as sustainable finance, is required for ETC FIs. Experience in energy and resource efficiency, industrial processes, and/or climate risk management for real estate, agribusiness, retail, and/or services (including health and education) is required for the ETC MAS program. Experience in infrastructure, mining, and/or power in emerging markets is required for ETC INR.
3. Demonstrate a thorough awareness of the most important climate change policy and market concerns, including the most recent advancements in the area.
4. Analytical Skills: Exhibit strong research and analytical abilities, including the capacity to summarize important data and effectively work with Word, Excel, and PowerPoint.
5. Excellent written and verbal communication skills in English are required, and proficiency in another language is an asset.
6. Team Player: Demonstrate the capacity to cooperate and communicate well with clients and coworkers from various cultural backgrounds. Work as a team player, creating a welcoming and constructive work environment.
7. Flexibility: Demonstrate a readiness to adjust to various tasks and, when needed, broaden the scope of your job and your duties.
Core Competencies of the World Bank Group
With a motivated and dedicated team, we take pride in being an equal opportunity and inclusive company that does not discriminate on the basis of gender, gender identity, religion, race, ethnicity, sexual orientation, or handicap.
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