INTRODUCTION

The Global Green Growth Institute (GGGI) is an intergovernmental organization founded to support and promote a model of economic growth known as green growth, which targets key aspects of economic performance such a poverty reduction, job creation, social inclusion, and environmental sustainability. GGGI works with countries around the world, building their capacity and working collaboratively on green growth policies that can impact the lives of millions. The organization partners with countries, multilateral institutions, government bodies, and the private sector to help build strong economies that are more efficient and sustainable in the use of natural resources, less carbon intensive, and more resilient to climate change. GGGI supports stakeholders through complementary and integrated workstreams that deliver comprehensive products designed to assist in developing, financing, and mainstreaming green growth in national economic development plans.

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 Programme; 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 Programme 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, UKPACT ratified GGGI’s work as Implementing Partner by funding another phase of the project, which consists of three workstreams: 1) continue advancing and strengthening Mexico’s Sustainable Taxonomy and creating skills on users for its implementation,2) continue working with NDB to further mobilize resources in debt capital markets (DCM), and 3) supporting the development of carbon market regulation and its implementation. Within this context, the Sustainable Finance Sr. Associate will support the sound implementation of the first two workstreams in close collaboration with GGGI’s team and partners (Ministry of Finance, NDB, CNBV, subnational authorities, among others)

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.