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.
Climate business is a key strategic focus area for the IFC. The need to address climate is urgent, with global carbon budgets set to be depleted in less than two decades. Following the Paris Agreement, 147 countries around the world submitted their Intended Nationally Determined Contributions (INDCs) with pledges to reduce greenhouse gas (GHG) emissions under the United Nations Framework Convention on Climate Change. To achieve these climate targets, many countries have created policy packages to green their economies. Green financing needs however remain unmet, indicating a significant untapped potential for banks to grow their green financing products and services. The green financing gaps will only be bridged if commercial banks adopt strategies and targets to develop green finance products and services to support the real economy in the green transition. .
The Financial Institutions Group (FIG) is one of three major industry groups at IFC, responsible for managing roughly 40% of IFC’s overall business in terms of volume and capital at risk. FIG engages in a wide range of sub-sectors including Microfinance, SME, Gender, Climate, Insurance, Capital Markets, Housing, Distressed Assets, and other areas, with both investment and advisory services delivered to IFC’s clients through IFC’s global network. FIG contributes a critical piece to the IFC’s climate program and ambitions by building climate markets globally and providing thought leadership in new high-growth areas for climate finance. IFC recognizes that financial institutions are central to these efforts and that they will be needed to support regional markets to transition to low-carbon economies, including via offering new financial products.
IFC is seeking an experienced senior professional as Lead and Principal Climate Finance Specialist to lead the implementation of a successful FIG Climate Business program in South Asia and East Asia Pacific. The Lead/Principal Climate Finance Specialist will manage a multi-disciplinary team to assist partner financial institutions and other program partners to develop and deliver on the program. S/he will also work closely with the global network of practitioners to contribute to and share knowledge and best practices. S/he will also be responsible for working with a broad range of public and private sector stakeholders to identify climate business opportunities in the market, and to disseminate lessons learned from IFC’s program to make a substantive impact on sustainability and climate change agenda in the market through FIs. The position will be based in Singapore and will require frequent regional travel.
Roles and Responsibilities
The Lead/Principal Climate Specialist will manage a small team that will support the FIG business to generate new climate investments, implement Paris alignment and other climate advisory programs, and manage the climate aspects of the portfolio. The team will have responsibility for driving innovation, leading new product development, climate strategy and managing and mentoring a climate team that will provide technical expertise and support to the IS transactions. The duties & responsibilities of the role will include but will not be limited to:
• Manage the team’s other climate investment staff and specialists across the Asia region.
• Lead and drive scoping of technical and commercial market potential for and climate finance in targeted countries and identify market opportunities.
• Identify gaps and needs for developing sustainable energy/climate finance programs in targeted countries, including formulation of motivation/drivers for end-users to implement climate friendly projects using FI’s financing.
• Prepare and update IFC’s Climate Finance strategy in the region to address climate change issues, including preparation and updating of applicable tools, manuals and procedures.
• Develop innovative approaches for sustainable energy project development, financing and capital markets, through partnerships and transaction structures with financial institutions, and other key market players (EPCs, Technical Service providers etc.) market players.
• Actively develop new business by leveraging his/her network of industry contacts
• Implement Climate Finance strategy roll outs in target countries as needed and align with regional and global strategy.
• Provide expert advice to investment and advisory services teams and financial sector clients on the potential and scope for climate finance, to help identify opportunities on the market for FIs and to help formulate strategies to grasp those opportunities.
• Provide technical inputs and support to IS teams on transactions and quality control climate team deliverables in the following areas:
• Working with business development leads and in marketing the product to clients.
• Conducting Climate Finance diagnostics/appraisals with clients, drafting of appraisal reports, leading/contributing to internal /IS transaction documentation, Legal Agreements and Monitoring and Reporting etc.
• Support the program to develop standardized policies, procedures and training materials that can be tailored for individual banks such as Paris Alignment and Climate Risk.
• Monitor the progress and impact of projects through regular reporting and project performance.
• Carry out technical due diligence in line with IFC climate standards, and work with the legal team to ensure contract conditions include necessary guidelines and reporting procedures.
• Ensure implementation of reporting formats for the FIG Climate portfolio to be used by bank management and IFC; and, where possible, gain insight into the portfolio management procedures and data processing to improve decision making.
• Provide portfolio support for investment projects in using IFC’s CAFI tool for GHG accounting.
• Provide technical inputs in establishing and managing partnerships and networking initiatives with key players in the climate change space to advance IFC’s Climate finance agenda.
• Recruit and supervise consultants in preparing detailed energy audits and feasibility studies, as required.
• Represent IFC in selected national, regional conferences, workshops and training seminars.
• As the role requires a knowledge of the Climate Finance space as well as knowledge of financial institutions, the successful candidate should have a combination of educational qualifications and work experience that address these two needs.
• Experience in managing and motivating a global or regional team to deliver on investment and advisory objectives.
• PhD or master’s degree in Economics, Engineering, Finance, Business, or Environmental Sciences.
• Minimum 15 years of work experience in the Sustainable Energy (SE) and climate business, particularly the technical and financial aspects of climate finance projects across multiple asset types (solar, wind, energy efficiency, EV, transport, climate smart agri, water and waste).
• Minimum of 7 years’ experience in Capital Market transactions with at least 5 years in a Financial Institution or working with Financial Institutions.
• Deep experience in Asian Emerging Markets with a wide network across financial institutions in the Region.
• Recognized a market thought leader in Asia.
• Expertise/familiarity with metrics and tools for tracking climate investments, including GHG accounting tools as well as TCFD, Climate Risk and Paris alignment.
• Strong understanding of with IFC Climate Definitions and Guidance Notes, ICMA/LMA/APLMA Principles, and donor and bilateral programs in Climate Finance related to blended and concessional finance
• Sound understanding of financial structures used to finance climate friendly projects as well as how banks, insurance companies, capital markets, and other financial intermediaries typically work in climate friendly financing.
• Extensive knowledge of clean energy and environmental markets in the region and knowledge of international best practices and global trends in the industry.
• Excellent understanding of the perspective of the private commercial banks, private equity, insurance companies and other financial intermediaries, including their business drivers, the scope of their operations, and their interests, so as to be able to successfully engage and sell to them.
• Familiarity and confidence to be able to negotiate and be effective in a matrixed working environment.
• Capacity to deal with conflicting priorities and deliver high quality work on schedule.
• Excellent communication and presentation skills in English language skills are required.
• Experience and proven ability to work with senior management of Government institutions, industry associations, private sector technical players and financial institutions, through technical competence and excellent interpersonal skills.
• Good interpersonal skills and team spirit.
• Ability to work under pressure, handle multiple tasks simultaneously, travel and work across time zones.
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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