Sustainable Finance and Investment Specialist

Job Description

Background

Diversity, Equity and Inclusion are core principles at UNDP: we value diversity as an expression of the multiplicity of nations and cultures where we operate, we foster inclusion as a way of ensuring all personnel are empowered to contribute to our mission, and we ensure equity and fairness in all our actions. Taking a ‘leave no one behind’ approach to our diversity efforts means increasing representation of underserved populations. People who identify as belonging to marginalized or excluded populations are strongly encouraged to apply. Learn more about working at UNDP including our values and inspiring stories.

UNDP does not tolerate sexual exploitation and abuse, any kind of harassment, including sexual harassment, and discrimination. All selected candidates will, therefore, undergo rigorous reference and background checks.

Office/Unit/Project Description

UNDP is the knowledge frontier organization for sustainable development in the UN Development System and serves as the integrator for collective action to realize the Sustainable Development Goals (SDGs). UNDP’s policy work carried out at HQ, Regional and Country Office levels, forms a contiguous spectrum of deep local knowledge to cutting-edge global perspectives and advocacy. In this context, UNDP invests in the Global Policy Network (GPN), a network of field-based and global technical expertise across a wide range of knowledge domains and in support of the signature solutions and organizational capabilities envisioned in the Strategic Plan.

Since 2022, UNDP and the Italian Ministry of Environment and Energy Security have started to work together on the policy areas of “youth-led climate action” and “energy transition” through two programmes: the Youth4Climate Initiative and the Italy-UNDP Energy Partnership. These activities will run from 2022 to 2025 gearing up - among other initiatives - to the Italian Presidency of the G7 in 2024.
Youth4Climate promotes youth engagement in climate action, contributing to SDG13. Youth4Climate supports the implementation of youth-led and youth-inclusive solutions to environmental and climate challenges, both financially and through capacity development. It also gives young people around the world who are committed to fighting climate change a platform to engage with policymakers and global leaders.

The Italy-UNDP Energy Partnership (EP) aims to promote access to sustainable energy in developing countries, contributing to SDG7. The goal of the partnership is to assist partner countries in unlocking finance to scale up the diffusion of clean energy solutions, increase access to energy and boost the energy transition. The Partnership is now in its pilot phase, and it focuses on a set of 8 countries in Africa: Algeria, Nigeria, Kenya, Rwanda, Mozambique, Zambia, Eswatini and Comoros. Overall, the Partnership aims to foster the mobilization of public and private capital toward projects aligned with the international policy agenda and the Sustainable Development Goals. It does so by connecting UNDP’s capacity and connections in emerging economies and developing countries with the public-private ecosystem of Italy and other G7 countries, in the crucial sector of energy.
Cross-cutting to these two initiatives and to the thematic areas of climate and energy is the Platform for Investment Support and Technical Assistance (PISTA) implemented by the Rome Centre, which aims to mobilise finance for climate, energy and environment. Specifically, PISTA aims to originate projects that contribute to the decarbonization efforts of developing economies and to their transition to climate-resilient economies, and it aims to catalyse international financial resources toward these initiatives. Matching impactful projects with investors and capital providers goes hand in hand with the engagement with financial institutions - both institutional and private - at Italian and global level.

Duties and Responsibilities

The Rome Centre for Climate Action and Energy Transition requires the support of Sustainable Finance and Investment Specialist (“the Specialist”) to deliver on the activities described below. The successful candidate will give a crucial contribution to both the PISTA team and the Energy Partnership team, serving as a technical expert for both. The Specialist will play a pivotal role in overseeing and managing the post-origination phase of projects, ensuring interventions are designed, implemented, and monitored effectively to achieve desired outcomes. The Specialist will report to the PISTA coordinator and the Energy Partnership coordinator. The scope of work over the course of the period may vary depending on the specific assignment and region.

1.Lead Project scoping and selection (PISTA)

• Collaborate with project origination teams to assess climate and sustainability aspects of identified projects.
• Evaluate project eligibility based on defined criteria, including alignment with sustainable finance principles and climate objectives.
• Lead the co-design process for interventions in collaboration with stakeholders, including government entities, relevant climate finance experts, UNDP regional/country offices, and the dedicated Joint Working Group (“JWG”) for each window.
• Prepare comprehensive intervention proposals that incorporate sustainable finance strategies, according to the specific requirements for each window (ICW or BCW) and emphasizing the project’s contribution to a sustainable future.
• Present intervention proposals to the relevant JWG for final selection

2. Lead intervention design and implementation (EP and PISTA)

• Develop or support the development of work plans for approved interventions, ensuring alignment with project objectives and PISTA/EP guidelines.
• Based on intervention needs, manage the procurement of required expertise and services (consultants, training providers, etc.) following UNDP procurement procedures.
• Provide technical guidance and support to project implementation teams.
• Oversee the quality of deliverables produced during project implementation (reports, studies, etc.).
• Monitor progress against timelines and budgets, identifying and mitigating potential risks and issues for assigned projects.
• Maintain clear communication with stakeholders, including government counterparts, relevant experts, UNDP country offices, and the respective JWG, providing regular updates and progress reports.

3. Substantively contribute to Project Climate Finance Strategy, and Investor Engagement (EP and PISTA)

• Engage potential financiers aligned with these principles, including both public and private sector institutions, for PISTA and for the Energy Partnership
• Coordinate with financial intermediaries, institutions and development finance institutions to explore co-financing opportunities that promote long-term environmental and social benefits.
• Develop and present compelling financial packages that not only demonstrate project financial viability but also effectively communicate the project’s positive sustainability impact, attracting investment towards assigned projects under both ICW and BCW windows.
• As needed, support access to Finance for Renewable Energy Projects in Eswatini by maintaining communication and collaboration with key stakeholders in the Eswatini financial sector, and supporting the EP team in its engagement in the country.
• As needed, support progress for projects sourced in Eswatini that received expressions of interest for financing from the Italian Climate Fund.

4. Lead knowledge sharing, monitoring and evaluation (EP and PISTA)

• Monitor activities to track progress, results, and identify areas for improvement for assigned projects.
• Report on project effectiveness and impact, contribute to the development of the PISTA’s annual report by providing data and insights on performance of projects under your responsibility.
• Contribute to knowledge sharing initiatives within the PISTA team and with UNDP country offices

The incumbent performs other duties within their functional profile as deemed necessary for the efficient functioning of the Office and the Organization. Supervisory/Managerial Responsibilities: The Sustainable Finance and Investment Specialist is accountable for integrity, transparency, and equity in the management of UNDP resources, including equipment, and supplies. The incumbent may also be asked to supervise work of external consultants and more junior staff.

Institutional Arrangement

• The incumbent will be office based with The Rome Centre for Climate Action and Energy Transition in Rome, Italy;
• The incumbent will report to, and be directly supervised by the PISTA coordinator.
• The incumbent will be given access to relevant information necessary for execution of the tasks under this assignment.
• International mission travel may be required.

Required Skills and Experience

Min. Academic Education

• Advanced university degree (master’s degree or equivalent) in Economics, Development Finance, Business Administration or similar degree is required. Or
• A first-level university degree (bachelor’s degree) in the areas mentioned above, in combination with an additional two years of qualifying experience will be given due consideration in lieu of the advanced university degree.

Min. years of relevant Work

• Minimum of 5 years (with master’s degree) or 7 years (with bachelor’s degree) of relevant professional work experience in the fields of banking, economics, development finance and investment management.

Required skills

• Demonstrated experience in presenting, research and writing skills in the climate, energy or sustainable finance space is required.
• Proven track record of delivery on project implementation of investments and/or advisory operations is required.
• Proven experience in sound financial, credit, and analytical skills (including reviewing and advising the development of financial models), sound business judgment, and ability to assess project bankability is required.
• Proven experience at a professional level with a financial institution, working on investments, of at least 1 year (e.g. World Bank Group, African Development Bank, European Investment Bank, regional and national banks, commercial banks etc) is required.
• At least 3 years’ experience in the field of private sector project finance and in managing multistakeholder relations including with private sector enterprises and financiers is required.
• Experience in coordinating multiple workstreams is required.
• Extensive experience working with emerging economies and developing countries in Africa is desired.

Desired additional skills and competencies

• Experience at a professional level with a financial institution, working on investments, of 3 years or more would be an asset (e.g. World Bank Group, African Development Bank, European Investment Bank, regional and national banks, commercial banks etc);
• Experience in structuring / deploying innovative financial instruments such as guarantees/risk sharing facilities, local currency facilities, structured equity, and other instruments will be a strong asset.
• Demonstrated experience in renewable energy and climate infrastructure in Africa is an asset.
• Experience working in international organizations to engage with private sector stakeholders in Africa (preferable Southern African Countries) would be an asset.
• Work experience in Eswatini or Southern African Countries and demonstration of knowledge of this market would be an asset.

Required Language(s) (at working level)

• Fluency in oral and written communication skills in English required.
• Working knowledge of another UN language is desired.

APPLICATION DEADLINE: 07/15/2024, 11:59 AM

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