INTRODUCTION TO GGGI

The Global Green Growth Institute (GGGI) is a treaty-based international, inter-governmental organization dedicated to supporting and promoting strong, inclusive and sustainable economic growth in developing countries and emerging economies. To learn more please visit about GGGI web page.

GGGI has a diverse portfolio of programs in developing countries around the world. These in-country programs, together with global products and services, focus on delivering results through an integrated approach of evidence-based green growth planning and implementation aligned to countries’ development priorities. The organization also focuses on knowledge development and management activities which build a strong theoretical and empirical basis for green growth, while providing concrete options and guidance for policymakers; as well as building the conditions for public and private green infrastructure investments.

CONTEXT

Over the last decade, the Global Green Growth Institute (GGGI) has consolidated its role as a trusted advisor to Mexico’s federal and subnational governments, actively working shoulder-to-shoulder with key counterparts to establish a strong green growth foundation in the country. In 2014, the Mexican Senate ratified the Agreement for the Establishment of GGGI, which signals Mexico’s commitment to green growth and its recognition of the shared value of this development paradigm in cooperation with GGGI. In 2021, the Country Agreement between GGGI and Mexico was signed between the Mexican Foreign Affairs Secretariat and GGGI; hence, formally recognizing GGGI as one the country’s key partnering international intergovernmental organizations.

From its inception in Mexico (2013), GGGI has supported the federal government to develop the National Climate Change Strategy and the Special Climate Change Program. From there, GGGI expanded its work to support the government with tools and analyses to manage air quality, improve public transport, reduce the use of private vehicles, and promote cleaner, more efficient mobility. GGGI has also partnered with the Secretariat of Environment and Natural Resources (SEMARNAT) to develop workstreams at the subnational level. One such initiative (2013) was GGGI’s technical and advisory role for the Environmental Commission of the Megalopolis (CAMe), where GGGI supported efforts to improve the air quality of the region. In addition, GGGI worked alongside the State of Sonora to develop and adopt its Green Growth Strategy (SGGS) and governance mechanism, which has been instrumental for the development of green growth initiatives in the state in line with the priority areas of the GGS. In more recent years, GGGI has also partnered with Mexico’s Secretariat of Finance and Public Credit (SHCP) and the Green Climate Fund (GCF) to improve the climate finance architecture in the country and enhance Mexico’s access to climate finance through preparing local financing institutions to access funds from the GCF. The latter has opened the doors for GGGI to Mexico’s financial system, enabling to work with regulators and regulated entities for mobilizing green finance. Lastly, Mexico also hosts GGGI’s Regional Office for Latin America and the Caribbean.

Between 2019-21 GGGI has implemented the GCF Readiness Program, which supports the SHCP plus national development banks, NAFIN and BANOBRAS, to mobilize climate finance and enhance their institutional capacities to access GCF funds. Some key deliverables within this project are Mexico’s Country Program; the No Objection Procedure; the generation of institutional capacities within NAFIN and BANOBRAS in gender, environmental and social risks management in support of their accreditation as Direct Access Entities (DAEs) before the GCF; plus supporting SHCP in launching the Green Finance Taskforce of the Inter-Ministerial Climate Change Commission and its efforts in support of the development of a Sustainable Taxonomy for Mexico.

In 2022, a Multiyear GCF Readiness Program started its implementation to continue strengthening capacities of the Ministry of Finance of Public Credit (SHCP) -as focal point of GCF and other green funds – and candidate and accredited DAEs on sustainable finance to mobilize investments that advances Mexico’s climate and sustainable commitments.

More recently, with support from the UK Partnering for Accelerated Climate Transitions (UK PACT), GGGI has worked closely with the National Banking and Securities Commission (CNBV). This project aims to support the efforts of Mexico’s financial regulator–the CNBV–on greening finance through the development of capacities and increase knowledge within the commission itself and with its regulated entities. The project has entailed developing knowledge products on the integration and disclosure of environmental, social and governance (ESG) standards; developing recommendations to integrate climate-related risks in financial products/services for specific vulnerable groups; and by providing capacity building and skills enhancement for CNBV staff and members of the Sustainable Finance Committee. The project also included the development of a self-assessment tool for regulated entities (financial entities and market issuers) to evaluate where they stand on ESG integration and what actions they need to undertake to advance their efforts.

In addition, under UKPACT sponsorship, GGGI supported the development and socialization of Mexico’s Sustainable Taxonomy under SHCP’s lead. In addition, national development banks, such as FIRA and NADB, received technical assistance to development thematic investments (bonds) and enhances its environmental and social safeguards towards mobilizing greener financial products. One of the most remarkable achievements in this sense is the Sustainable Bond Framework of the State of Baja California.

Recently, AfD has commissioned GGGI to develop a taxonomies analysis and the definition of a common investment framework with NADB. Within this context, the Green Investment Services Sr. Associate will support this work in close collaboration with GGGI’s team and partners.

POSITION SUMMARY

The Senior Associate for Green Investment Services will report to the Green Investments Officer. The position involves supporting the development of products and project components. Key responsibilities include:

1. Developing credit programs or any other financial instruments.
2. Creating project pipelines for national, subnational, and national development banks.
3. Assisting in the development of GCF concept notes and funding proposals.
4. Assisting with financial structuring as needed.

This will require close coordination with the Sustainable Finance teams and other GGGI staff. Additionally, the position will assist the Green Investments Officer in Mexico by analyzing various project portfolios to align them with different taxonomies, and identifying opportunities for making various viable projects more environmentally friendly.

Finally, the position will require providing green/sustainable finance ad hoc technical assistance to other national and subnational counterparties.

PURPOSE

• Support the Analysis of Mexico’s Sustainable Taxonomy, European Taxonomy, NADB Green Loan Framework and Sustainable Bond Framework, and AfD Taxonomy in close collaboration with GGGI’s team and partners.
• Identify thresholds and indicators for supporting the alignment of projects‘ portfolio with Mexico’s Sustainable Taxonomy.
• Independently develop investment ideas and project pipelines to be funded by multilateral banks and national development banks, in alignment with diverse taxonomies (including Mexico’s Sustainable Taxonomy, NADB Green Loan Framework, EU green taxonomy, AfD taxonomy, KfW taxonomy).

ENGAGEMENT

• Collaborate closely with national counterparts, especially NADB and AfD, as well as other multilateral and national development banks.
• Engage with the Ministry of Finance, private sector stakeholders (such as stock exchanges, financial institutions, issuers, and commercial banks), and other relevant parties that can support and facilitate GGGI’s delivery, scalability, and impact at the federal and subnational levels.
• Apply necessary technical skills to acquire important information and knowledge from a variety of sources, including government ministries, provincial departments, municipal and district authorities in support of delivery of high-quality outputs.
• Liaise with other GGGI country offices, GGGI Regional offices and GGGI headquarters to build complementary capabilities and stronger technical delivery.

DELIVERY

• Develop green bankable projects portfolios in alignment with Mexico´s and international best practices and principles.
• Develop financial instruments (guarantees, SPVs, PPPs, credit programmes, etc.) for national development banks and national and subnational counterparties.
• Create capacities among partners (public and private sector market and economic actors) to understand and use Mexico’s Sustainable Taxonomy through training, socialization, and knowledge products.
• Develop and deliver sustainable finance capacity-building presentations and materials.
• Develop materials for users, including guidelines, procedures, tools, training materials and other technical documents.
• Participate in any other relevant activities deemed necessary for the development of GGGI’s México program, including monitoring and evaluation of the climate-finance related activities.

REQUIREMENTS

• Master’s degree in Finance, Public Policy, Public Administration, Environmental Economics, or a relevant field.
• Preferred at least 5 years of relevant working experience in the financial sector, preferably in the public administration and in the field of climate/green/sustainable finance.
• Understanding of green finance and sustainable financial instruments (bonds, grants, SPV, PPPs, debt, guarantees and equity) and familiarity with taxonomies.
• Experience finance structuring and project finance.
• Experience in client facing roles in public institutions or development agencies.
• Excellent verbal and written fluency in English and Spanish.

FUNCTIONAL

• Exceptional planning and strategical skills oriented towards the effective and timely delivery of the agreed outputs; highly organized.
• Exceptional analytical and quantitative skills; capacity for synthesis, presentation, and strategic and creative thinking skills.
• Sets high but achievable standards for self and others. Seeks opportunities to improve process and outcomes. Constantly reviews performance to identify areas to develop.
• Able to pick up and assimilate relevant information quickly and easily. Learns new tasks rapidly. Responds swiftly and appropriately. Can think on their feet in rapidly changing environments.
• Takes balanced view of situations incorporating different perspectives. Seeks alternative viewpoints. Recognizes priorities, weighs up different options and evaluates risks. Reaches logical conclusions and decides on appropriate plan of action. Evaluates previous judgements in order to improve.
• Able to communicate information and ideas clearly and articulately both in oral and written form. Uses appropriate language, style and methods depending on audience and the purpose of communication. Able to convey complex information clearly. Anticipates the information that others will need.
• Actively participates in team. Encourages co-operation. Aware of the needs of others and responds flexibly. Shares information and supports other team members.
• Able to identify and separate out the key components of problems and situations. Able to manipulate and interpret information from a range of sources to spot patterns and trends in information and to deduce cause and effect from this. Can generate a range of creative solutions, evaluate them, and choose the most appropriate option.
• Sets personal goals which are challenging but achievable. Pursues these with energy, persistence, and determination. Enthusiastic and committed to improving personal performance levels.
• Outstanding stakeholder engagement, client relationship, communication, teamwork, and consensus building.

CORPORATE

• Understand and actively supports GGGI’s mission, vision and values.
• Promote the optimum use of public resources.
• Promote an organizational culture of trust, transparency, respect and partnership.
• Process and share information easily.
• Manage emotions and stress positively, builds rapport and resolves conflict easily.
• Promote creativity and innovation among staff.
• Be able to lead where needed and provide solutions to project-level challenge.

WORKING CONDITIONS

The Green Investment Services Sr. Associate is a National Position at X7 grade level in GGGI’s national salary scale. The salary will be defined depending on qualifications and experience. GGGI provides 15% of base salary towards retirement plan/long-term savings, 27 days of annual leave, and private health insurance that covers dental and vision. GGGI is committed to providing a work environment that is sufficiently flexible to accommodate diverse life-cycle challenges and assist Staff members to achieve a better balance between work and personal/family commitments, thus ensuring high performance, long-term productivity, and well-being of Staff members.