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.

GGGI in collaboration with the Ministry of Environment of the Government of Ecuador is rolling out an 18-month technical assistance program to the Government of Ecuador titled “Mobilizing International Climate Finance and Private Investments for Low-Carbon Development in Ecuador”. The program, funded by the Green Climate Fund (GCF) Readiness and Preparatory Support Program, aims to enhance the institutional capacity, strategic frameworks, and project pipeline of the Government of Ecuador to increase the mobilization of national and international climate finance and private investments for the implementation if the nationally determined contribution (NDC) and low carbon development

CONTEXT

The achievement of Ecuador’s NDC targets requires a substantial increase in the volume of public and private, national and international climate finance invested in the country.

The significant investment and efforts required for Ecuador to implement its development and climate change plans risks being hampered by the impact of the COVID-19 pandemic, which hit the country after a prolonged period of high debt-financed public infrastructure investments, deteriorating the country’s economic outlook, shifting priorities towards economic recovery, and leaving little fiscal and policy space to pursue priority climate change initiatives.

As a result, the Government of Ecuador under the leadership of the Ministry of Environment has embarked on an ambitious effort to increase the efficiency of its climate finance ecosystem by diversifying the country´s donor engagement, accessing underutilized climate funds and developing new and innovative finance mechanisms to de-risk mitigation and adaptation projects in an effort to increase the mobilization of international climate finance and private investments for a climate resilient and low-carbon development.

GGGI program aims to support the Government of Ecuador’s climate finance efforts by delivering a set of complementary workstreams:

• Workstream 1: Strengthening the capacity of financial institutions to finance climate projects and integrate environmental, social and governance standards into their operations and Instruments
• Workstream 2: Building the capacity of the Government of Ecuador to adopt and implement innovative climate finance instruments;
• Workstream 3: Advancing the development of a National Green Taxonomy
• Workstream 4: Developing a strategic framework for low carbon, climate-smart PPPs

PURPOSE

Oversee and support the delivery of climate and sustainable finance activities, including:

• Strengthen the MAATE and Government of Ecuador´s institutional capacity to access international climate finance;
• Strengthen the sustainable finance capacity of the Institutional Climate Finance Committee (CIFST) and MAATE;
• Delivery of technical assistance to the Government of Ecuador to develop sustainable finance instruments to secure long-term concession capital, including thematic bonds and debt for nature/climate swaps;
• Deliver technical assistant to public and private finance sector actors for the design of thematic bonds (green, social and sustainability);
• Deliver technical assistance to local financial institutions to integrate environmental and social standards into their processes, procedures, and instruments to increase the availability of green finance for private sector-led low-carbon projects;
• Strengthen the Government of Ecuador’s institutional capacity to integrate environmental, social and climate change considerations into public-private partnership (PPP) processes and projects;
• Coordinate the development of a Green Taxonomy Roadmap;
• Support investments projects cycle, including origination, evaluation, structuring, negotiating, and financial advisory until financial close of transactions;
• Development of content for knowledge, training, and communication materials on green investments;
• Delivery of capacity building and technical assistance to local financial institutions to promote the adoption of environmental, social and governance standards

ENGAGEMENT

• Support the engagement with the MAATE and GCF
• Build and maintain strong relationships with the Ministry of Environment, Ministry of Finance, and relevant project stakeholders
• Organize and deliver consultation and validation workshops to validate products and activities
• Engage with focal points, accredited entities and executing entities of international climate funds, including the Green Climate Fund, Adaptation Fund and Global Environment Facility
• Support the establishment of and periodic engagement with the program steering committee
• Support the engagement with government counterparts, negotiation MOUs, advance membership and Host Country Agreement negotiation
• Support the engagement with potential donors and partners

DELIVERY

• Develop and deliver sustainable finance capacity building material and workshops targeting CIFST, MAATE and other public and private sector stakeholders;
• Support the development, validation and operationalization of Ecuador Green Bond Roadmap and Ecuador Green Bond Framework with climate change consideration;
• Support the development of Standard Operating Procedures for the institutionalization of Debt for Climate Swaps in Ecuador’s public finance laws and regulations;
• Support the development of Ecuador Green Taxonomy Roadmap;
• Develop and deliver sustainable banking capacity building material and workshops targeting local financial institutions;
• Support the development of recommendations for the integration of environmental, social and climate change considerations into PPP policies, legislation, regulation, RfPs, bidding documents and contracts developed

REQUIREMENTS

QUALIFICATIONS

• Bachelor’s degree in Economics, Finance and Business Administration;
• Master degree in Finance, Banking, and Applied Economics or other related fields.
• At least 6-8 years of professional experience in the financial sector, private/public banking, micro-finance and stock market institution.
• At least 1 years of professional experience in sustainable finance, or climate change mitigation and adaptation projects with involvement of the financial sector
• Prior experience sourcing, structuring, and closing investments is a strong asset
• Experience in bond emission
• Verbal and written fluency in English and Spanish
• Familiarity with the GCF is a plus

FUNCTIONAL

• Leadership, teamwork and creative problem-solving abilities
• Ability to develop and maintain working relations with financial sector stakeholders
• Committed to learning about the growing field of sustainable finance
• Ability to multi-task and prioritize under stressful circumstances.
• Ability to interact and form relationships with high-level government officials and partners
• Knowledge of and experience in adhering to internationally agreed environmental and social safeguards (ESS) and gender-sensitive design requirements

CORPORATE

• Understand and actively supports GGGI’s mission, vision and values.
• 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 Sustainable Finance Officer is a National Position at X8 grade level in GGGI’s national salary scale. The salary range for the position is USD 50,832-64,811 per annum 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.

*La persona selecciona deberá dedicar el 100% de su tiempo a este proceso, por lo que está prohibido considerar otras consultorías durante el periodo de contratación.

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.