Description

IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2023, IFC committed a record US$43.7 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org.

In 2021, the World Bank adopted a new Climate Change Action Plan (CCAP) that aims to deliver record levels of climate finance to developing countries, reduce emissions, strengthen adaptation, and align financial flows with the goals of the Paris Agreement. IFC has committed to align 85% of new operations with the goals of Paris Agreement by July 1, 2023 and 100% of these by July 1, 2025.

IFC’s Climate Business Department (CBD) works across the organization and beyond to implement the CCAP. The Department is responsible for among other things, supporting IFC investment and advisory teams to identify and account for climate investments, track committed climate finance, partner with the Treasury department on IFC’s Green Bond Program, develop analytical tools, lead climate risk management, and develop thought leadership via publications and external partnerships.

Within CBD, the Climate Finance & Policy Team (CBDCF) supports action leadership on topics such as 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 climate business-related markets development to mobilize more private capital including through carbon credits.

In this context, the CBDCF team seeks to hire three (3) Extended Term Consultants (ETC) to primarily enhance CBDCF support for Paris Alignment processes. Each ETC is expected to support specific sectors in close collaboration with 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 IFC’s 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 IFC’s 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 IFC’s 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 master’s 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.

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