Consultant for the Climate Risk Disclosure Guidelines, Fiji
Please note that the deadline is based on Korean Standard Time Zone (KST, UTC+9)
INTRODUCTION TO GGGI
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BACKGROUND
The Government of Fiji has taken significant steps toward addressing climate risks, notably through the enactment of the Climate Change Act 2021. This legislation emphasizes the importance of climate-related risk assessments and disclosures among key financial and corporate stakeholders. The Act mandates climate risk disclosures for specified entities under Sections 93-100, which are yet to come into force. In preparation, comprehensive guidelines aligned with international standards such as the IFRS S2 and the Task Force on Climate related Financial Disclosures (TCFD) and support the operationalization of Section 93-100 of the Climate Change Act 2021.
The Climate Change Division (CCD) has initiated foundational work, including stakeholder consultations and scoping studies. However, a more detailed and comprehensive set of guidelines, incorporating feedback and lessons from initial engagements, is necessary to fulfill the objectives outlined in the Act.
OBJECTIVES OF THE ASSIGNMENT
To engage a consultant to draft comprehensive Climate Risk Disclosure Guidelines for Fiji, leveraging existing preliminary drafts, aligning with IFRS standards, and ensuring consistency with the broader framework of the Climate Change Act 2021. The guidelines will enable reporting entities to:
- Identify, assess, and disclose climate-related risks and opportunities;
- Integrate climate risk into governance, strategy, and risk management systems; and
- Produce consistent, comparable, and decision-useful disclosures. The guidelines shall be practical, implementable, and support regulatory compliance and enforcement.
SCOPE OF WORK
The consultant will:
Deliverable 1: Inception Report and Detailed Workplan
- Develop a detailed workplan, methodology, and implementation approach for undertaking the assignment, in consultation with the Project Team and subject to endorsement by the Director of Climate Change, ensuring alignment with agreed objectives, deliverables, and timelines.
Deliverable 2: Review Existing Materials and Preliminary Work
- Analyze the initial work done by the consultancy group Bankers without Boundaries (BwB).
- Review stakeholder feedback, preliminary guidelines, and outputs from the Technical Working Group (TWG).
- Review and summarize key considerations for jurisdiction adoption of IFRS S2
- Review other countries and peer approaches to climate risk disclosure, including SI
- Identify gaps and adaptation needs for Fiji
Deliverable 3: Draft Climate Risk Disclosure Guidelines
- Develop guidelines structured around IFRS S2 core elements such as:
a) governance – roles of boards and management in climate oversight,
b) strategy – climate related risks and opportunities across short, medium and long terms horizons,
c) risk management – integration of climate risks into enterprises risk systems, and
d) metrics and targets - emissions, exposure, indicators and performance targets.
- Develop a framework for classification of climate-related risks, including physical and transition risks;
- Define requirements for climate scenario analysis (e.g. 1.5°C and 2°C scenarios);
- Establish a materiality assessment approach for determining reportable risks;
- Provide guidance on quantification of financial impacts of climate risks where feasible;
-
Include sector-specific considerations (e.g. financial institutions and corporates)
- Ensure the guidelines cover reporting entities, phased implementation/adoption relief, reporting mechanics, and assurance requirements.
- Address Fiji-specific considerations, including the phased rollout to Tiers 1 and 2 entities and capacity-building needs.
Deliverable 4 &5: Conduct Stakeholder Consultation
Conduct consultations for relevant stakeholders to gather input on the development of climate-related financial disclosure requirements, in alignment with regulatory feasibility, financial sector readiness, and international best practice. These stakeholders include:
- Reserve Bank of Fiji (RBF)
- South Pacific Stock Exchange (SPX)
- Ministry of Finance and Economic Planning
- Financial Institutions (FIs)
- Insurance Companies
- State Owned Enterprises (SOEs)
- Relevant Climate Science and Technical Institutions.
- Integrate inputs from the Technical Working Group
- Address gaps identified in preliminary stakeholder engagements.
Deliverable 7: Climate Risk Methodology and Implementation Framework
- Develop a Fiji-specific methodology for assessing climate-related risks;
- Propose approaches for integrating climate risk into financial and corporate decision-making processes;
- Develop a phased implementation roadmap aligned with Tier 1 and Tier 2 entities.
Deliverable 8: Provide Capacity-Building Recommendations
- Recommend resources, templates, and illustrative examples to aid reporting entities in adopting the guidelines.
- Include strategies for addressing potential capacity challenges specific to Fiji. Recommend training tools, and institutional strengthening measures to support implementation.
Deliverable 6 & 9: Finalize and Present the Guidelines
- Conduct stakeholder validation workshops.
- Revise draft based on feedback and prepare the final
DELIVERABLES AND PAYMENT SCHEDULE:
The consultant is expected to deliver the following outputs per the identified timeline and payment schedule below:
|
Deliverables |
Expected outputs |
Due Date |
Percentage of maximum amount |
|
1. Inception Report and Detailed Workplan |
Including methodology, stakeholder engagement plan and timeframe |
2 weeks of project commencement |
20% |
|
2. Gap Analysis Report |
Assessment of existing legal, regulatory and institutional frameworks against international best practices (e.g. TCFD, ISSB) |
End of Month 1 |
20% |
|
3. A comprehensive Climate Risk Disclosure Guidelines document tailored to Fiji's context. (Draft Version) |
A comprehensive draft tailored to Fiji’s context, incorporating initial findings and international standards. |
End of Month 2 |
|
|
4. Stakeholder Consultation Report |
Summary of consultations, key issues raised and how feedback will be addressed |
End of Month 3 |
30% |
|
5. Draft Climate Risk Disclosure Guideline (Revised Version) |
Updated draft incorporating stakeholder feedback and technical refinements |
Mid-Month 4 |
|
|
6. Final Climate Risk Disclosure Guidelines |
Fully validated and submission-ready guidelines for submission |
End of Month 5 |
20% |
|
7. Implementation Roadmap for operationalizing (Sections 93–100) |
A phased implementation plan outlining regulatory sequencing, institutional responsibilities, timelines, and readiness under Tier 1 & Tier2 |
||
|
8. Reporting Templates and Technical Annexes |
Standardized disclosure templates, guidance notes, and technical annexes to support consistent implementation. |
End of Month 6 |
10% |
|
9. Validation workshop materials |
Presentation slides and supporting materials for stakeholder validation workshop |
- The Individual Consultant will report to the Project Implementation Lead for the completion of the tasks and duties at the GGGI
- All deliverables, reports,data and information, and other documents prepared or received from the stakeholders from the start to the end of the assignment shall be saved in MS Teams Platform created by GGGI.
- The Consultant shall submit each deliverable report in electronic versions readable by a Microsoft Office application.
- All outputs must be in English.
EXPERTISE REQUIRED
Qualifications
- Bachelor’s degree in Accounting, Finance, Economics, Law, Environmental Science, or a related discipline. A postgraduate qualification in any of these fields, including Climate Change, Environmental Management, Public Policy, Law, or Sustainable Development, will be an advantage.
- Professional qualification such as CPA/CA or equivalent is highly desirable.
Professional Experience
- 5+ years of proven experience in financial reporting, sustainability reporting, or accounting disclosures aligned with international standards, including IFRS S2 Climate-related Disclosures and ISSB standards.
- Demonstrated experience in developing or drafting climate-related policies, regulatory frameworks, or legislative instruments, preferably within financial regulation, environmental governance, or the public sector.
- Strong experience working with government agencies, financial regulators, central banks, or similar institutions on regulatory or policy development.
- Experience in ESG reporting systems, sustainability data governance, and assurance or audit processes for climate-related or sustainability disclosures.
- Familiarity with Fiji’s regulatory, financial, and environmental context, including Small Island Developing States (SIDS) climate vulnerability considerations.
Technical Competencies and Skills
- Strong understanding of climate-related financial risk disclosure frameworks, including TCFD Framework and ISSB-aligned approaches.
- Ability to conduct or interpret climate risk analysis, including physical and transition risk assessment and climate scenario analysis (e.g. 1.5°C and 2°C scenarios).
- Ability to translate complex financial reporting and climate disclosure requirements into clear, enforceable regulatory language.
- Excellent technical writing and communication skills, including development of regulatory instruments, guidelines, and policy documentation.
- Strong stakeholder engagement and consultation skills, including facilitation of multi-stakeholder policy development processes.
- Ability to integrate climate science considerations with financial reporting and regulatory requirements.
ADMINISTRATIVE INFORMATION
The Individual Consultant will ensure:
- Availability during the project period.
- Ensure a work plan is developed to meet the deliverables required
- No conflict of interest arises while taking this assignment.
Date to close is 30 July 11.59pm Korean Standard Time (KST). Applications submitted after the deadline will not be considered Application. Cover Letter, and CV must be sent in English. A consortium or a firm may not be engaged for the individual consultant assignment.
GENERAL INFORMATION
Project: Consultant for the Climate Risk Disclosure Guidelines
Duty Station: Suva (Fiji)
Contract Duration: 6 months
Consultant Level: 3
Total Fees: USD 12,400 (including travel)
Child protection – GGGI is committed to child protection, irrespective of whether any specific area of work involves direct contact with children. GGGI’s Child Protection Policy is written in accordance with the Convention on the Rights of the Child.