Consultancy to assess nexus of blended climate financing with adaptation focus for Vietnam Red Cross Society

1. Background

Vietnam remains one of the most hazard‑prone countries in the Asia‑Pacific, exposed to typhoons, floods, droughts, heat waves, landslides, and forest fires. Its long 3,260 km coastline, mountainous terrain, and dense river systems magnify vulnerability to natural hazards, many of which are intensified by climate change. In September 2024, Typhoon Yagi—the strongest storm to strike Vietnam in decades—made landfall over Quảng Ninh and Haiphong with winds exceeding 200 km/h. The disaster resulted in over 320 deaths and missing, nearly 2,000 injuries, and more than 102,000 houses destroyed or damaged. The estimated economic damage reached 83.7 trillion VND (≈ US $3.3–3.5 billion)—equivalent to roughly 0.6% of Vietnam’s 2023 GDP and causing projected downward revisions of GDP growth by 0.15–0.35 percentage points.

One of the world’s most climate-vulnerable countries[1], without adaptation Vietnam could lose 12.5% of GBP by 2050, alongside significant loss of life. The country requires $233 billion in adaptation investments by 2050, but limited access to blended and climate finance[2] by a key national actor – the Viet Nam Red Cross Society (VNRC) – is delaying progress.

VNRC’s auxiliary status to the Vietnamese government – legally mandated to lead disaster response with accelerated authorisation structures–, its nationwide access and 30 years’ experience in climate adaptation, uniquely places it to significantly scale climate action. A recent World Bank Report[3] recommends leveraging public-private-donor finance models to increase climate finance for the country.

The British Red Cross (BRC) Society in partnership with Vietnam Red Cross (VNRC) Society has recently secured flexible funding through Climate Action for a Resilient Asia (CARA) project, a UK Government initiative supporting climate adaptation and resilience across Indo Pacific in Vietnam. This project provides a catalytic opportunity to support VNRC to improve its access to nexus of blended climate finance, which will, i) enable delivery of climate adaptation, resilience and disaster response programming at scale; and ii) develop a replicable model for the Red Cross Movement using Vietnam as a pilot case and that can be replicated by other Red Cross (RC) National Societies regionally. This project will run through from September 2025 – September 2026, with final deliverables expected to be achieved by July 2026.

The BRC is commissioning a professional consultant to develop an actionable investment case and roadmap for VNRC to access and effectively mobilise sustainable blended climate finance that have an explicit adaptation focusat national, regional and international level.

2. Rationale of the consultancy

To strengthen VNRC’s capabilities in effectively mobilising sustainable finance, enabling locally led climate resilience, response programming and Nature based solutions at scale that will support Vietnam’s climate goals[4] in protecting vulnerable communities and also form a foundation for other national societies around climate blended financing within the region.

3. Objective

The overall objectives of this consultancy are to

4. Methodology

The consultancy firm has to bring in a group of domain experts who will work as a team to deliver the outputs as mentioned below under section 6 of the ToR.

At the start of contract, the consultancy firm will prepare an inception report with a detailed methodology/technical approach including a clear work plan to produce key deliverables as specified in the TOR.

The consultancy firm will maintain regular communication with agreed time intervals to share the progress with project strategic group comprising of representatives from VNRC, BRC, FCDO, climate finance expert from IFRC and external agencies for strategic guidance. For day-to-day operations and coordination, the consultants will communicate with BRC and VNRC team lead.

5. Scope of work

A. Analyse feasibility of financial tools (like loans, bonds, parametric insurance, results-based finance, and other innovative instruments), focusing on how they can be blended especially with insurance and other suite of investments options —into a broader disaster risk finance that fits with Vietnam’s legal framework and explore how the approach could be scaled and adapted for use by other Red Cross Societies in the region.

B. Analyse the political and governance system to understand the different roles that specific Government of Vietnam departments, linked entities, domestic financers, bankers and broader stakeholder have in influencing and regulating access to blended climate financing, with explicit adaptation focus.

C. Map nexus of blended climate related financing landscape, that have an explicit adaptation focusavailable at national and international climate finance options with a focus on the role that blended finance can play viz. the Growth Investment Partnership such as BII / PIDG, Green Bonds etc that are backed by local banks and potentially attractive for humanitarian settings. This could include selecting 3-4 priority instruments (e.g., loans, credit lines via local banks, green/blue bonds, blended financing structures insurance, results-based finance etc.). For each instrument, check Vietnam’s fit based on legal requirements, set-up time, financial risks, controls needed). Build simple selection tools: Decision Matrix or Decision Tree to assess applicability of different instruments.

D. Assess VNRC’s funding architecture, income generation potential, and institutional readiness for managing climate financing, identify structural gaps in relations with government of Vietnam regulations / policies and recommend mechanisms to address them.

E. Return on investment analysis to assess the impact that blended financing could have to justify the choice of instrument in terms of cost effectiveness and efficiency of operations during emergency and long-term programming while cross referencing case studies developed by Red Cross under component 1 of CARA project.

F. Develop a clear blended climate financing roadmap (with short term, mid term and long term objectives and associated action plans) for VNRC that have an explicit adaptation focus and that has a scope for replication across the region to enhance climate resilience, disaster risk reduction and sustainable humanitarian actions.

G. Develop an actionable funder-ready investment case for VNRC based on various analysis undertaken under the scope of this work that include purpose, problem statement built on latest climate research, governance, budget, risk/mitigation measures.

H. Using Vietnam as a pilot case, to provide guidance note with clear pathways for the Red Cross Movement in accessing / using the nexus of blended climate finance instruments with explicit adaptation focus by other Red Cross-National Societies across the region.

6. Deliverables/expected outputs

A. A clear blended climate financing roadmap (with short term, mid term and long term objectives and associated action plans) for VNRC and that has a scope for replication across the region to enhance climate resilience, disaster risk reduction and sustainable humanitarian actions.

B. An actionable funder-ready investment case for VNRC based on various analysis undertaken under the scope of this work including application tool kit. This application kit to include editable templates and models commonly required by public and private institutions such as policies, financials, logical frameworks, draft MoU templates.

C. Return on investment analysis with a clear framework to demonstrate the impact of blended climate financing to justify the choice of instrument in terms of cost effectiveness and efficiency of operations during emergency and long-term programming. This could include simple climate finance screening tool/Process (Excel/low-code tool) to scan, score and triage opportunities (based on eligibility and strategic fit).

D. Two policy briefs and recommendations on climate financing and blended financing in resilience and humanitarian setting ensuring they are tailored to the audience which should cut across blended finance providers as well the humanitarian community.

E. Using Vietnam as a pilot case, to provide guidance note with clear pathways for the Red Cross Movement in accessing / using blended finance instruments with explicit adaptation focus by other Red Cross National Societies across the region.

7. Timeline

01 December 2025 to 31 July 2026

8. Payment schedule

Payment will be made to the consultancy firm against the agreed work plan.

9. Consultancy firm/consultants’ profile

Essential criteria

Desired criteria

10. Expression of Interest

The interested consultancy firm should submit an expression of interest including both a Financial Offer and a Technical Offer. That should include the following:

10.1. Technical Offer

A method statement/proposal outlining the proposed approach, clear methodology for each of the scope of work and deliverable to ensure quality is maintained throughout the contract and how they propose to meet the Terms of Reference with clear timeframe. Also include

10.2. Financial Offer –

This consists of a detailed financial proposal for the delivery of services outlined above, with costs broken down significantly for each task and sub-activities with value propositions.

Female led consultant team/consultant is highly encouraged to apply.

11. Market Place Engagement and Date of application submission

12. Date of application submission

Consultant firm to apply within 3 weeks from the date of publication on BRC website /online portal/ market-place engagement.

13. Award Procedure

This section outlines and describes the procedure that Red Cross will follow in selecting the consultancy to enter into this Contract.

The purpose of the Award Procedure is to enable the Red Cross to assess the relative advantages of each submission meeting the Award Criteria. The assessment of bids in accordance with the Award Procedure will be based on the following criteria:

The financial offer will be assessed on the basis of the total quote submitted for the requirements detailed, rather than the component parts individually.

Following the submission of quotes, the bidder with the lowest total shall receive 100% of the weighting attributed to the Financial Offer (i.e. 30%) award criteria. All subsequent bids will be weighted by calculating a percentage of the lowest price.

The Technical Offer will represent 40% of the overall tender score attainable by Bidders.

Bidders must note that there must be no changes to the key personnel proposed as part of any tender submission, without the approval and authorisation of the Red Cross. In such circumstances, replacement personnel proposed must be at least equally qualified and skilled as the personnel they are replacing. Red Cross may veto the proposed replacement personnel with a full explanation as to why the proposed individual is not considered to be suitable.

The Technical Offer shall assess the Bidders response in relation to the criteria as detailed below:

Technical Offer

Bidders must provide a method statement / proposal outlining the proposed approach with detailed methodology for the scope of work/deliverable to ensure quality is maintained throughout the duration of the Contract and how they propose to meet the Red Cross’ Terms of Reference (see details above in EOI).

1. Your understanding of Red Cross’ Terms of Reference and how your proposed methodology shall achieve our aims and objectives

2. Your approach paper and how it details the process of delivering the expected outputs

3. CV(s) of the consultants proposed for the task, with a focus on similar assignments

4. At least two examples of similar work including references from the organization for whom those pieces of work were developed

5. Approach to communication and engagement with the Red Cross

6. Added value and innovation, including tangible charity discounts, consultancy and additional support provided at zero additional cost etc.

Following the assessment of the technical offer, the score attained by each Bidder will then be added to their Financial Offer score to give a total tender score out of 70%.

The highest scoring Bidders will then be invited for a technical interview/presentation which will make up the remaining 30% of the score.

14. Confidentiality and Intellectual Property Rights:

“Intellectual Property Rights” refers to any patent, copyright, design right, community design right, registered design, rights in know-how, or any similar right in any part of the world and shall include any applications for the registration of any patents or registered designs or similar rights capable of registration in any part of the world.

All Intellectual Property Rights whatsoever in any work produced by the Contractor and/or the Individuals for British Red Cross shall belong to British Red Cross absolutely and the Contractor hereby waives and shall procure that the Individuals (or any individuals it uses in any capacity to provide or assist in providing the Services) waives any moral rights or any other rights whatsoever which it may have in such work and will, at the expense of British Red Cross, take or join in taking such steps to vest such rights in British Red Cross or enforce the same on behalf of British Red Cross as British Red Cross shall require.

The Contractor shall indemnify the British Red Cross (as appropriate) against any costs claims demands expenses or liabilities arising from a claim brought against British Red Cross by a third-party alleging infringement of its intellectual property rights arising from use of British Red Cross of the Services provided by the Contractor.

The Red Cross emblem is a protective symbol, the use of which is restricted by international and national law. It may not be reproduced without prior authorisation. For more information, about the emblem, please go to www.redcross.org.uk/About-us/Who-we-are/The-international-Movement/The-emblem.

15. Confidentiality

All information collected by the learning partner on behalf of VNRC, and BRC will remain the property of VNRC and BRC and require explicit permission by both parties for any use not stated here.