Consultant for DA16 project

Result of ServiceOutput 1. Annotated outline of the study, with a description of its methodology and data sources. (Necessary adjustments to the expected elements of the study can also be suggested at this stage) Deliverable 1. An annotated outline including (a) proposed structure, (b) literature review of methodologies, and (c) proposed methodology tailored to Cambodia. Delivery Date 1. 15/12/2025 Output 2. First complete draft of the study Deliverable 2. First draft of the assessment, including scenario design, preliminary stress-testing results, and initial findings from the climate-debt sustainability analysis. Delivery Date 2. 15/02/2026 Output 3. Final study, incorporating all the feedback received. Deliverable 3. Final draft incorporating feedback, with references and technical annexes, that is ready for policy dialogue and publication. Delivery Date 3. 30/04/2026 Output 4. Presentation of findings at capacity-building workshop for relevant policymakers Deliverable 4. Presentation delivered at national capacity-building workshop; accompanying PowerPoint and summary handout submitted. Delivery Date 4. 30/06/2026 How are the outputs to be delivered: Digital copy Work LocationRemotely Expected duration10/12/25-30/6/26 Duties and ResponsibilitiesAs climate change intensifies, Cambodia faces significant macroeconomic risks, magnified by its reliance on climate-sensitive sectors like agriculture, tourism and construction. These risks threaten economic growth, macroeconomic stability and public debt sustainability, particularly given Cambodia’s relatively limited fiscal space and institutional capacity. ESCAP is implementing a Development Account project titled “Catalyzing finance and investments for climate action while ensuring debt sustainability in developing Asia-Pacific countries”. Part of this project supports selected countries in the region in assessing their macroeconomic exposure to climate risks, evaluating policy and institutional readiness, and identifying sustainable fiscal, monetary and financing strategies to enhance macroeconomic resilience amid climate change and climate action. The consultant will adapt a standardized analytical approach to Cambodia’s context, combining baseline debt diagnostics, fiscal-risk screening based on existing government and partner assessments, and the Network for Greening the Financial System (NGFS)-aligned climate-scenario analysis linked to policy design. A key feature of this assignment is to apply a climate-risk lens to Cambodia’s public finances and debt position. The analysis will focus on assessing how physical climate impacts (such as floods and heatwaves) and transition risks are likely to influence the country’s public debt dynamics and overall fiscal resilience. Specifically, the analysis will first conduct pragmatic fiscal-risk screening by synthesizing existing assessments by the government and its development partners (i.e., a targeted literature and data review), and secondly, implement new, NGFS-aligned climate scenario analysis to illustrate how alternative climate and policy pathways may affect fiscal revenues, expenditures, contingent liabilities, and borrowing needs. A central output of this work will be to propose climate risk-informed policy options and recommendations that support macroeconomic resilience, keeping in view the potential role of innovative, sustainable financing instruments. This provides an important evidence base that can inform broader policy and financing discussions, including potential linkages to Cambodia’s Sovereign Sustainability Bonds, by highlighting the fiscal and public debt management dimensions of resilience investments. The work will be conducted in close coordination with key government institutions, including the Ministry of Economy and Finance, the National Bank of Cambodia, the Securities and Exchange Regulator, the Ministry of Planning, the Council for the Development of Cambodia, and the National Institute of Statistics. These institutions are jointly engaged in strengthening Cambodia’s climate-aligned public investment, sustainable public debt management, green finance ecosystem, and fiscal risk management capabilities. NC-ESCAP, acting as the national coordination partner to ESCAP for this project, will support the consultant in accessing and compiling existing macro-fiscal, climate and disaster-related data. In particular, NC-ESCAP will coordinate with relevant ministries and agencies (such as the Ministry of Economy and Finance, the National Bank of Cambodia, the National Institute of Statistics and disaster-risk agencies) to facilitate data collection and information sharing required for this assignment. The output of this assignment will contribute to a national policy dialogue and a capacity-building workshop, supporting the integration of climate-related risks into fiscal and economic planning. It will also reinforce institutional cooperation and provide an analytical foundation for aligning Cambodia’s public investment and sovereign debt strategies with long-term climate and development goals. The objective of this consultancy is to support the government of Cambodia in developing analytical capacity to integrate climate risks into macroeconomic and fiscal policy planning. Deliverables and Structure: The consultant will deliver two parts: (A) the Core Study, and (B) the Institutional Uptake. Part A: Core study: A macroeconomic-fiscal-climate assessment study This study should be around 10,000-15,000 words. An indicative allocation is around one-third of the words each for (1), (2) and (3), with flexibility as needed. (1) Baseline and analytical framework • Conduct a review of Cambodia’s public debt landscape to establish a baseline for the climate-debt analysis • Assess Cambodia’s macroeconomic exposure to climate-related physical and transition-related shocks • Specify and document a transparent analytical framework for tracing climate shocks into fiscal variables and public debt dynamics (model structure, data sources, key equations and elasticities, and simple sensitivity ranges), ensuring the methodology and assumptions are accessible to government counterparts. • Set out a detailed evidence plan for the subsequent ‘readiness and gaps’ assessment, including: • Clear assessment criteria linked to Cambodia’s macro-fiscal resilience and climate-risk management objectives; • A proposed list of quantitative and qualitative indicators (for example on macro-fiscal aggregates, climate- and disaster-related spending, financing, and institutional practices) that are indicative rather than prescriptive; • A structured overview of data needs, specifying potential national data sources, known limitations or gaps, and opportunities to complement domestic data with external benchmarks (e.g. NGFS scenarios and cross-country parameters), to guide practical data collection and prioritisation in collaboration with NC-ESCAP and government counterparts. (2) Scenario design and analysis • Design and analyze four policy-relevant scenarios according to the Network for Greening the Financial System (NGFS) climate-scenario framework, including: • Current Policies baseline: Business-as-usual pathway reflecting policies in force at the cut-off date • Nationally Determined Contributions (NDCs) (Pledges / Hot-house World): Full implementation of Cambodia’s NDCs with no additional global policy tightening beyond stated pledges • Orderly Transition (Below 2°C / Net Zero 2050): Early, predictable and coordinated policy ramp-up consistent with Paris-aligned pathways • Disorderly Transition (Delayed / Divergent): Late and abrupt policy tightening to meet long-run targets, generating higher transition risks, such as stranded assets and inflationary and fiscal pressures • Apply the analytical framework specified in (1) to these scenarios to quantify impacts on fiscal space and public debt dynamics • Use these policy scenarios to: • Summarize key diagnostic drivers (e.g., revenue volatility, disaster-related spending, contingent liabilities) to inform policy package. • Link climate investment choices to feasible financing options (3) Policy package, implementation, and monitoring and evaluation • Readiness and gaps assessment (evidence-based): Using the scenario results, evaluate the readiness of fiscal, financial and institutional systems to manage identified risks (e.g. public investment management quality, debt-management operations, supervisory capacity, data infrastructure), and priorities capacity-building actions. • Propose tailored policy recommendations based on the scenario analysis, focusing on: • Fiscal strategies: Issues such as Medium-Term Fiscal Framework-embedded climate-fiscal strategy; budget tagging and climate fiscal-risk statements (including state-owned enterprises and public-private partnership projects); capital expenditures reprioritization and stronger public investment management (such as climate screens and shadow carbon price); fiscal revenue options and subsidy reform with targeted climate-related social protection; layered disaster-risk financing; and prudent public debt management including the potential use of credible sustainability-linked bonds and loans. • Regulation & supervision: Issues such as supervisory expectations on climate governance and risk appetite; climate scenario analysis/stress tests with supervisory measures and, where warranted, macroprudential tools; ISSB/TCFD-aligned (International Sustainability Standards Board/ Task Force on Climate-related Financial Disclosures) disclosures and an ASEAN-consistent taxonomy; updated collateral and credit parameters for climate-exposed assets; and catastrophe-risk market enablers and data infrastructure. • Monetary policy & operations: Issues such as integrating climate shocks into forecasting of inflation, economic growth, output gaps (and employment), key relative prices (such as energy and food), exchange-rate and balance of payments pressures where relevant, and market liquidity/bank funding needs; reviewing collateral and asset-eligibility frameworks (risk-based haircuts where justified); stress-testing liquidity backstops and payment systems; and considering official reserve-management practices reflecting climate risk. • Implementation & monitoring and evaluation: Issues such as scenario-to-policy mapping matrix with thresholds/triggers, sequencing, responsibilities, and time-bound indicators; identification of policy gaps and capacity needs; and just-transition measures. Part B: Institutional uptake of the study • Prepare and deliver a policy-focused presentation of the study’s key findings, methodologies, and recommendations. • Participate in a national capacity-building workshop with key government stakeholders to promote integration of climate-related macro-fiscal risks into policymaking and government budget processes. The consultant is expected to work under the general guidance of the Economic Affairs Officer of the Macroeconomic Policy and Analysis Section (MPAS) of ESCAP’s Macroeconomic Policy and Financing for Development Division (MPFD). Broad and in-depth understanding of macroeconomic policy, climate risk analysis, climate-integrated debt diagnostics, and fiscal instruments is required, along with sound knowledge of policy landscape and challenges in Cambodia. Experience in analytical or advisory roles in support of national governments or international development agencies is highly desirable. Qualifications/special skillsMaster of Arts in International Development/Economics Having experiences in Policy researchs LanguagesFluent in English Additional InformationNot available. No FeeTHE UNITED NATIONS DOES NOT CHARGE A FEE AT ANY STAGE OF THE RECRUITMENT PROCESS (APPLICATION, INTERVIEW MEETING, PROCESSING, OR TRAINING). THE UNITED NATIONS DOES NOT CONCERN ITSELF WITH INFORMATION ON APPLICANTS’ BANK ACCOUNTS.