UNEP Finance Initiative (UNEP FI) – Finance for development Specialist

The consultant will implement the climate readiness programme, working with UNEP FI secretariat, DFIs and commercial banks, and contributing to establishing UNEP FI’s partnerships with DFIs. • Support members on their journey and foster cooperation between development financial institutions (DFIs) and commercial financial institutions. • Work with members and DFIs to support resource mobilization and scale up public and private financing for sustainable development in developing countries. • Support piloting of the readiness programme for commercial financial institutions aligned with the Principles for Responsible Banking and/or Net Zero Banking Alliance and the DFI’s guidelines for their Paris Agreement commitment under UNEP FIS CMJ capacity building programme. • Identify learnings and improvements of the pilot to roll out the programme • Support NZNP initiative, delivering definitions, two guidance on identifying bankable projects related to NDCs, NAPs, and NBSAPs, and identification of potential financial instruments for mobilizing NZNP-aligned finance and investments. • Contribute to papers, speeches, research, and participate in events.

Working remotely

9 months

The United Nations Environment Programme (UNEP) is the leading global environmental authority that sets the global environmental agenda, promotes the coherent implementation of the environmental dimension of sustainable development within the United Nations system and serves as an authoritative advocate for the global environment. The overall objective of the UNEP’s Economy Division is to encourage decision makers in government, local authorities and industry to develop and adopt policies, strategies and practices and technologies that promote sustainable patterns of consumption and production, make efficient use of natural resources, ensure safe management of chemicals and contribute to making trade and environment policies mutually supportive. It promotes the development, use and transfer of policies, technologies, economic instruments, managerial practices and other tools that assist in environmentally sound decision making and the building of corresponding activities. The United Nations Environment Programme Finance Initiative (UNEP FI) is the strategic partnership between the United Nations and over 500 banks, insurers and investors. For over 32 years UNEP FI has been shaping and driving the international sustainable finance agenda, setting global standards and growing a global network of leading financial institutions. Through its work-streams and regional activities, peer learning, methodology development, training and research, UNEP FI promotes sustainable finance and helps the financial industry align with and contribute to the Paris Agreement and Sustainable Development Goals. UNEP FI supports the development and implementation of frameworks including the Principles for Responsible Banking (PRB), now committed to by more than 350 banks collectively representing almost half of global banking assets, and Net Zero Banking Alliance, a group of more than 140 leading banks, representing more than 40% of global banking assets, committed to aligning their lending, investment, and capital markets activities with net-zero greenhouse gas emissions by 2050. UNEP FI has developed the Climate Mitigation Journey (CMJ), which outlines all the business capabilities banks need to develop and iterate over time in order to align their business and operating models with the Paris Agreement. Banks can use the CMJ to inform their climate commitments under the PRB and/or NZBA initiatives as well as by public actors such as policymakers and central banks to assess market readiness for the climate transition of the banking sector. The CMJ aims to introduce a universally accepted end-to-end approach to banking climate mitigation that will enable shared approaches between banks and other actors of the sustainable finance ecosystem. UNEP FI offers a regional implementation programme to support banks on their climate mitigation journeys, through workshops, one-to-one technical assistance, and multistakeholder engagement. UNEP FI uses the CMJ to support members on their decarbonisation journey and expects to expand its use to foster cooperation between Development Financial Institutions (DFIs) and commercial financial institutions to mobilise climate finance and scale up public and private financing for the transition to a net-zero economy. Another UNEP FI initiative in partnership with other actors is the launch of the Net Zero Nature Positive, which it’s still in early stages and has a component with DFIs. UNEP FI needs a consultant to help design and manage the cooperation between Development Financial Institutions (DFIs), especially in two initiatives. First, the Climate Mitigation Journey to scale up climate capacity building and expand the use of the CMJ as an assessment framework for commercial, financial institutions. Second, Net Zero Nature Positive is an early-stage project with a small component related to DFIs. For the CMJ, the consultant will to support financial institutions to align with the Paris Agreement and ensure counter-party readiness for climate alignment. The goals is to mobilise climate finance and align banking portfolios with climate targets in developing countries. The cooperation with DFIs should support a climate readiness programme for commercial financial institutions implementing the Principles for Responsible Banking and/or Net Zero Banking Alliance and the DFIs’ guidelines and criteria for Paris alignment pathways. For the Net Zero Nature Positive, the consultant will also support activities related to financing development and Net-Zero Nature Positive (NZNP), delivering definitions for NZNP, guidance on identifying bankable projects related to NDCs, NAPs, and NBSAPs, and identification of potential financial instruments for mobilizing NZNP-aligned finance and investments. The consultant should also align with other UNEP FI initiatives involving the DFI community, particularly on climate adaptation, and support engagement of DFI networks such as Finance in Common. The Consultant can also contribute to UN briefings, papers, speeches, research and participate in events. Specific tasks and responsibilities: The consultant will provide assistance in the following tasks: • Develop evidence base and theory of change to inform DFI strategy. • Undertake needs assessment/market research and analysis to inform cooperation between DFIs and the financial sector through cooperation under UNEP FI’s programme of work on climate, transition and sustainable finance. • Develop strategy for UNEP FI to engage development financial institutions, including multi-lateral, bilateral and national development banks and agencies in implementing global finance sector principles to catalyze integration of sustainability into financial market practice. • Develop structure/model of engaging DFIs on promoting sustainability in all aspects of the financial sector’s operations and services, focusing on their core business and financing instruments. • Broaden UNEP FI’s outreach to enhance cooperation between public and private banks to scale up sustainable finance, focusing on climate and transition finance initially. • Engage DFIs in UNEP FI’s capacity building and technical assistance programme and support for banks to mobilise climate and transition finance to implement climate targets. • Help design capacity, finance, and technology change programme to redirect public and private finance towards climate solutions, including financing to achieve the Net-Zero in high risk and hard-to-abate sectors.  • Provide advice on risk mitigation tools to facilitate net-zero and SDG aligned investments. • Pilot DFI engagement in capacity building/technical assistance programme. • Test strategy and model/structure of DFI engagement. • Consult UNEP FI members (banking and insurance) on draft DFI engagement strategy. • Engage stakeholders (e.g. international financial institutions, multilateral climate funds, bilateral donors and development banks, technical assistance partners) and develop resourcing plan to implement strategy and establish structure for DFI engagement. • Support preparation of proposals, pitch decks, grant reports and other donor-facing materials. • Provide policy recommendations to mobilise DFI financing in developing countries. • Support the development of the IFI/MDB strategy to catalyse refinancing/risk-sharing for the net zero transition in banking. Outputs and Deliverables: • Research & analysis on DFI and banking cooperation on climate, transition and sustainable finance. • Strategy, structure and resource plan for DFI engagement. • Proposal delivered to mobilise resources for UNEP FI programme to provide technical assistance and facilitate development finance capacity to leverage private climate finance. • Capacity building/technical assistance delivered with DFIs for PRB signatories. • Plan to engage DFIs on climate and transition finance to help banks implement climate targets. • Policy recommendations on mobilizing DFI financing to inform UNEP’s intergovernmental processes. • IFI/MDB strategy to catalyse refinancing/risk-sharing for the net zero transition in banking. The consultant shall be under the overall supervision of the Head of UNEP FI and report directly to the Programme Management Officer, working in close coordination with UNEP FI’s Regional Coordination and Banking Teams.

Education: A master’s degree in finance, banking, economic development, sustainable finance, climate finance, climate technologies, sustainable development or a related field. A bachelor’s degree could be taken in lieu of advanced degree provided the selected candidate has nine (9) years of relevant experience. Professional Experience: At least seven (7) years’ working experience with development finance institutions or in sustainable finance. Experience of working with private financial organization. Experience in developing financing mechanisms and risk mitigation instruments, including debt finance

Languages: English is the working language of UNEP FI. Knowledge of other United Nations languages is an asset.

Skills & Knowledge: Knowledge of development finance institutions and commercial banks, technical support/training and mechanisms for public finance to leverage private finance for sustainable development. Ability to work with a variety of public and private stakeholders to foster partnerships and financial instruments. Understanding of climate finance and structuring of financing for mitigation and/or adaptation. Experience in project preparation and development, training and capacity building and a strong understanding of the international climate finance landscape. Desirable: Understanding of de-risking mechanisms such as guarantees and/or blended finance. Ability to develop market-driven solutions to accelerate investments and financing in climate change mitigation and adaptation projects. Experience working in developing countries and understanding of policy frameworks relevant to DFIs.

THE UNITED NATIONS DOES NOT CHARGE A FEE AT ANY STAGE OF THE RECRUITMENT PROCESS (APPLICATION, INTERVIEW MEETING, PROCESSING, OR TRAINING). THE UNITED NATIONS DOES NOT CONCERN ITSELF WITH INFORMATION ON APPLICANTS’ BANK ACCOUNTS.