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.

Climate action is at the core of IFC’s business. In fiscal year 2023, IFC delivered 46% in own-account climate finance and mobilized an additional $6.8 billion.  The World Bank FY21-25 Climate Change Action Plan outlines the institution’s collective response to align financial flows with the goals of the Paris Agreement (referred to as “Paris Alignment” or “PA”). Under the Action Plan, IFC has committed to align 85% of new operations with the goals of the Paris Agreement starting July 1, 2023, and 100% of these starting July 1, 2025, and to achieve at least 35% (on average during FY21-25) of its own account investments in climate positive activities. 

IFC’s Climate Business Department (CBD) works across the organization and beyond to implement the Climate Change Action Plan and deliver on Paris Alignment.  Among other things, CBD is responsible for supporting IFC investment and advisory teams to identify and account for climate investments, track committed climate finance, partner across the institution on IFC’s Labeled Bond Program (Green, Blue, Transition), develop analytical tools, lead climate risk management, and develop thought leadership via publications and external partnerships. This is all to help scale IFC climate impact and guard against greenwashing. 

In order to meet the global objectives enshrined within the Paris Agreement significant financing is needed. To help facilitate these flows, Climate Transition Finance seeks to provide clear guidance and common expectations to capital markets participants on the practices, actions and disclosures to be made available when raising funds in debt markets for climate transition-related purposes. IFC’s work in transition finance aims to (i) leverage existing climate change disclosure frameworks developed by relevant industry groups, regulatory bodies and the scientific community regarding climate change mitigation and adaptation, and (ii) articulate their relevance to use of proceeds or sustainability-linked bonds specifically in emerging markets which have differentiated development needs and emissions accountability in the global context.

About the Position

To deliver on its priorities, CBD is seeking to hire a highly motivated Senior/Operations Officer to join the team leading external standards setting and capacity building on transition and sustainable finance across IFC investment teams and external partners. This highly visible role provides in-depth knowledge internally and externally on transition finance, related taxonomies, sustainable finance products and requirements, Paris Alignment methodologies), and new climate-related initiatives. It also provides an opportunity to collaborate with a wide range of staff across IFC—including industry, regional, and corporate departments, as well as external norms setters ie International Capital Markets Association (ICMA), Climate Bonds Initiative (CBI), Science-Based Targets Initiative (SBTI) and more to support key strategic climate-related priorities and initiatives. The selected candidate will report to the CBD Global Head of Climate Capacity & Inclusion and will work closely with other staff across CBD and the World Bank Group.

This position is a 3 year contract is based in Washington, D.C subject to confirmation.

Duties and Accountabilities

Climate Transition Finance:

•  Advance Transition Finance for IFC in emerging markets context with input from across IFC Industry departments building on ICMA’s Transition Finance Handbook 2023.
•  Lead the internal cross-IFC Transition Finance Task Force which aims to define transition finance standards, products and business model specifically for IFC operating in emerging markets.
•  Contract and manage on-going research clarifying the similarities and differences between EU and other nations taxonomies for climate and sustainability activities and the Multilateral Development Banks approach to transition finance in emerging markets.
•  Support IFC Treasury engagement and related investment strategy.
•  Promote transition to net-zero through climate transition finance structured products and services.

Sustainable Finance:

•  IFC Treasury: Support investor facing activities and broader strategy and product development.  Support IFC Treasury on strategy, product development, impact reporting, second party opinion/sustainability rating and investor meetings.
•  Co-host related working groups and networks. Manage key internal Communities of Practice with frequent proactive sharing of relevant information on market developments and anticipating new trends.
•  Market creation: Support market development through active participation in working groups under the Principles related to Climate Transition Finance, Sustainability-Linked Bonds, Impact Reporting and be available to serve on additional external Task Forces.
•  Taxonomies and ESG regulation: Proactively monitor and build internal awareness about Sustainable Activities Taxonomies and ESG regulations in markets of IFC operations. 

Capacity building: 

•  Support external and internal training programs to grow the sustainable finance market in Emerging Markets.
•  Deliver core trainings, development of impact reporting training module, and project management of relevant research projects.
•  Support IFC’s Financial Intermediaries Group to deliver on specific sustainability funds and their related capacity building needs for issuers and other partners in the eco-system.

Provide global thought leadership on climate business:

•  Monitor and assess policy development and engage in private sector-related opportunities that showcase IFC experience and knowledge to identify new climate business opportunities and mobilize private financing (often in collaboration with other parts of IFC/WBG)
•  Engage IFC Leaders, external investors & partners to advance climate/sustainable finance using public speaking plus creative products in compelling formats.
•  Nominee Directors – Help IFC Nominee directors understand climate opportunities and risks and build Board Climate Competencies

Selection Criteria

•  Masters degree in Business, Finance, Environmental Finance, Public Policy, International Development, CFA or equivalent.
•  15+ years work experience ideally in capital markets or similar sustainable finance issuing/standard setting including fluency in bonds, loans, sustainability-linked, diverse taxonomies, impact reporting standards, and shifting market expectations.
•  Credible expert in climate transition finance, Paris Alignment, and climate risks assessments across companies, sectors and markets.
•  An extensive network and credentials in sustainable finance across private sector actors and MDBs across regions.
•  Proven track record to lead sharp analytic work with significant policy and investment implications.
•  Demonstrated ability to design and deliver impactful training sessions to build capacity across a broad array of stakeholders at senior levels.
•  Deep experience in effective public speaking with both gravitas and inclination to experiment with edu-tainment approaches to upskill many different audiences.
•  Natural ability to convene diverse stakeholders, proactively engage across industries, and enthusiasm to co-create innovative climate finance solutions/products/services.
•  Ability to handle a large workload, balance and prioritize competing demands under high pressure.
•  Proven ability to operate and think strategically, and work independently, with demonstrated organizational skills.
•  Strong initiative and record of performance with low supervisory requirements to function effectively as a team member with both formal and informal authority (when reporting is horizontal).
•  Excellent interpersonal and diplomatic skills dealing with internal and external clients, staff and managers at all levels.
•  Commitment to climate the World Bank Group’s and IFC’s mission, strategy and values.
•  Excellent verbal and written communication skills in English, another language a plus (esp Spanish, French, etc).

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.

Learn more about working at the World Bank and IFC, including our values and inspiring stories.