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 2022, IFC committed a record $32.8 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.

The global building construction industry contributes approximately 38% of total energy-related CO2 emissions. To keep global warming below 1.5 degrees Celsius, the building industry will need to reduce emissions by 50% by 2030 and be carbon neutral by 2050. The WBG Board endorsed the FY21-25 WBG Climate Change Action Plan (CCAP). With this endorsement, IFC committed to align 85% of new operations with the goals of the Paris Agreement starting July 1, 2023, and 100% starting July 1, 2025, as well as screen all projects for physical climate risk by FY2023.  Meanwhile, IFC’s clients are increasingly developing sustainability strategies that include committing to formal climate related targets. This is due to a number of business and strategic drivers (e.g. climate related asset risk, utility costs, energy security, franchise value, increasing government regulations, requirements from investors and tenants).

The Global Tourism, Retail and Property (TRP) team at IFC is responsible for delivering investment and advisory programs related to the building/real estate industries globally. In this critical juncture, IFC TRP team developed the Greening Real Estate Institutional Portfolios (GRIP) program to support select large real estate asset owners to define and implement portfolio-level decarbonization and /or net zero strategies with clear interim targets. The objective is to move beyond “greening” individual buildings, deepen IFC’s relationships & value-add with clients on their decarbonization journey and to create a pipeline of investments that can be financed by IFC.  IFC is currently in the pilot phase for its GRIP program, with 6 engagements with private sector clients across South America, Europe and Asia.

IFC is seeking a ‘(Senior) Industry Specialist – Real Estate Decarbonization’ to join the Global TRP team to be based in Washington, DC. The selected candidate will have three main responsibilities/roles:

•  Supporting the global roll-out of the GRIP program and providing technical expertise and thought leadership in real estate decarbonization strategy under the GRIP program;
•  Conducting climate risks assessment for IFC’s tourism, retail and property investment projects; and
•  Advance IFC’s thought leadership on sustainability in the TRP sectors.

Duties And Accountabilities:

Support the development and roll-out of the GRIP program
•  Overall, manage the development and roll-out of the GRIP program across key IFC markets, including support business development, maintain standard pitchbooks, template agreements, presentations, and delivery manuals.
•  Work with global and regional IFC teams, to identify high priority clients, prepare tailored proposals and legal agreements to expand GRIP program.
•  Each GRIP engagement supports large real estate portfolio owners to develop, implement and finance their sustainability strategies. The specialist would be required to work with 3rd party sustainability/green building consultants and firms to deliver the GRIP engagements. Specific engagements could include:

    o Provide guidelines and feedback to the client or client’s sustainability team/consultant to develop a baseline assessment of the portfolio emissions.
o Provide guidelines/recommendations to the client to determine clear climate goals (net-zero carbon by 2050 etc.) in line with international frameworks, client’s baseline status and business plans.
o Assess client’s current sustainability strategies, reports (if any) and identify gaps and areas of improvements based on international standards/frameworks like Science Based Targets (SBTi), Task Force on Climate-Related Financial Disclosures (TCFD), EDGE Green Building Certification, Building Resilience Index, and best practices in the industry.
o Assessment of new regulations in relevant markets that would impact the business operations and valuations for Client and develop mitigation strategies.
o Decarbonization roadmap including relevant KPIs and intermediate milestones – in line with international standards, capex and investment plans.
o Suggested technical interventions/projects to reduce greenhouse emissions and energy, water and material consumption, per each asset and consolidated at a group level.
o ‘Green guidelines’ for all new developments and acquisitions for the group in alignment with the defined corporate climate goals.
o Assessment of the impact of climate change on the building portfolio and an adaptation strategy using the IFC Building Resilience Index tool or similar tools.
o Internal framework for monitoring and reporting on the progress of the implementation of the decarbonization plan, aligned with international standards.
o Assessment of available digital solutions/tools to measure and report emissions based on industry best practices.
o Alignment of the suggested pathway with the IFC’s Paris Alignment principles.

Support climate risk assessment for IFC investment projects
•  Engage with projects teams to carry out Paris Alignment assessments in collaboration with Climate Business Department and TRP Industry Specialists at IFC.
•  Work with Tourism, Retail, and Property Sector Leads and Industry Specialists to refine existing Paris Alignment BB1 and BB2 approaches and streamline processes where possible.
•  Apply or refine existing Paris Alignment tools such as Geoviewer and Resilience Sectoral Methodology.
•  Develop Tourism, Retail, and Property specific Paris Alignment case studies, sectoral guidance notes, and questionnaires as needed.
•  In collaboration with Climate Business Department, monitor Paris Alignment assessments to identify best practices and lessons learned.

Advance IFC’s thought leadership on sustainability in the TRP sectors
•  Support the TRP team in its sustainability agenda by developing new sustainability linked investment and advisory offerings as relevant.

Selection Criteria

•  Master’s degree in a related field (e.g. real estate, sustainability, building engineering, business management etc.)
•  At least 8 years of experience in advising private sector clients in the real estate sector in emerging markets; Experience of working with large real estate portfolio clients in emerging markets on their ESG strategies, specifically on climate strategies a strong plus.
•  A good understanding of green building, resilience and adaptation certifications and systems is required.
•  Understanding of green finance tools such as green loans, sustainability linked loans and etc. is a plus.
•  Direct, “hands-on” experience in climate change decarbonization technologies, green buildings, net zero transitions, decarbonization strategies and international standards/frameworks in the real estate sectors.
•  Strong business sense with ability to judge what motivates private sector strategic and investment priorities and implementation decisions and where to focus IFC resources to deliver results and impact in climate.
•  Knowledge of Paris Agreement objectives and alignment process and sector decarbonization roadmaps is helpful.
•  Ability to work effectively in teams and build bridges across organizational boundaries.
•  Knowledge of IFC mission, products and services is a plus.
•  Travel internationally as needed. 

World Bank Group Core Competencies

The World Bank Group offers comprehensive benefits, including a retirement plan; medical, life and disability insurance; and paid leave, including parental leave, as well as reasonable accommodations for individuals with disabilities.

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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