Job Description
Carbon Finance Specialist
Reference Number 60008532
Country United Kingdom
City London
Department Banking
Team Energy Efficiency and Climate Change
Closing Date 10 May 2007
3 Year Fixed Term Contract – Carbon Finance Specialist opportunity with Energy Efficiency and Climate Change Team.
Role Overview
A carbon finance Specialist is sought to support the growing involvement of the Bank in the carbon market(s) in its 29 Countries of Operations (CoOs).
The Bank is playing, or looking at playing four main roles in the carbon market in its CoOs: first, policy dialogue with governments in its CoOs in order to improve the investment climate, address barriers, and improve capacity; second, project preparation support; third, creating funds that can purchase credits for the account of third party compliance buyers; and fourth, lending against the carbon cash flow, i.e. the revenue stream accruing to a Bank client from the sale of carbon credits.
In particular, the Bank’s Sustainable Energy Initiative (SEI), launched in 2006, contemplates increased EBRD support to improving awareness of, and addressing barriers to, carbon finance and the use of emission trading mechanisms. Following the creation of the Netherlands-EBRD Emission Reduction Cooperation Fund (NERCOF) in 2003, the Bank established in December 2006 together with the EIB the Multilateral Carbon Credit Fund (MCCF) which aims to buy ca 20 million tonnes CO2 from projects financed by it or the EIB.
The Carbon Finance Specialist position will be based at EBRD’s HQ in London, reporting to the Director of Energy Efficiency and Climate Change (E2C2) Team. The roles of this team are to:
- Design specialised energy efficiency investment mechanisms such as ESCOs and energy efficiency credit lines
- Identify and support development of industrial energy efficiency opportunities with other Bank clients
- Identify and develop opportunities to sell carbon credits from EBRD funded projects, including the NERCOF and MCCF.
The E2C2 Team comprises 10 professionals, with backgrounds in public finance, investment banking, carbon financing and energy efficiency engineering. With the increasing global focus on climate change and energy security the range of energy efficiency and climate change activities is expanding and there is a need to strengthen the Team, especially in the carbon finance field.
The successful candidate will work with both resident office staff in the EBRD’s countries of operations as well as with members of the EECC Team and other banking staff in London.
Key Responsibilities and Deliverables
- Monitor developments in the CoOs with respect to climate change and in particular Kyoto Protocol issues relating to Government approval procedures and carbon credit opportunities and projects;
- Market, originate and provide advice and support to Joint Implementation (JI) and Clean Development Mechanism (CDM) carbon projects in connection with EBRD funded projects which reduce greenhouse gas emissions in the CoOs;
- Develop and implement technical co-operation projects that relate to innovative carbon projects and preparation for policy dialogue activities, including the hiring and managing of consultants;
- Assist in the development of new carbon finance products and services, including market research and analysis in close co-operation with the Bankers and staff departments.
- Manage the portfolio of 9-10 carbon transactions signed under the Netherlands EBRD Emission Reduction Cooperation Fund, which entails regular reporting to the Dutch Government, regular contacts with project companies (sellers) and troubleshooting as may be needed.
Essential Skills, Experience and Qualifications
- Excellent knowledge of Kyoto Mechanisms, environmental certificates trading and strong experience of carbon financing, especially under Joint Implementation and Clean Development Mechanism.
- Minimum 3- 5 years of relevant work experience from a major international financial institutions or energy/infrastructure utility or corporate/project finance group of a large organisation of similar expertise.
- Track record in project and product development, including the ability to analyse and structure complex products, to come up with creative solutions and to translate such in co-operation with Bank operation leaders into projects.
- Team player with good marketing, communication and inter-personal skills as well as proven business judgement and high ethical and professional standards.
- Very good written and oral communication skills in English
- Good relevant degree from a leading university and computer literacy
- Prior experience in central/eastern Europe and/or former Soviet Union will be a plus.
Competencies and Personal Attributes
- Ability to operate sensitively in multicultural environments and build effective working relations with clients and colleagues
- Ability to communicate effectively with senior government and business contacts
- Ability to plan and organise work unsupervised
- Ability to work to and meet tight deadlines Willingness to travel to and work in EBRD countries of operation
This job description is not limited to the responsibilities listed and the incumbent may be requested to perform other relevant duties as required by business needs.
Please click to apply online.
