National Consultant PAGE Morocco Finance and Climate Risk

Result of ServiceThe consultant’s services will result in the development of analytical inputs, coordination outputs, and knowledge products that support the Government of Morocco in integrating climate risk considerations into national investment and financing frameworks. Specifically, the consultant will contribute to the national diagnostic study, facilitate stakeholder consultations, and support the pilot application of a climate risk assessment methodology with the FM6I. The outcomes will serve as a foundation for scaling the approach across other Moroccan financial institutions. The national consultant will collaborate closely with the international consultant recruited by UNEP to ensure coherence, alignment with national policy frameworks, and effective stakeholder engagement. The consultant’s work will contribute to the implementation of PAGE in Morocco and support UNEP’s “Finance and Economic Transformation,” “Nature,” and “Biodiversity” programmes, reinforcing national capacities for green and climate-resilient finance. Work LocationRemote Expected duration5 months Duties and ResponsibilitiesUNEP is the voice of the environment within the United Nations system. UNEP acts as a catalyst, advocate, educator and facilitator to promote the sound use of the environment and sustainable development. Located within the Industry and Economy Division, the Resources and Markets Branch examines how the economy, trade and finance interact with the environment and contribute to sustainable development at the local, national, regional and global levels. Based in Geneva, the Division leads the Green Economy Initiative to help countries integrate environmental considerations into their economic and trade policies. The Government of Morocco is committed to integrating climate risks into financial decision-making as part of its broader transition to a green and resilient economy. This initiative, implemented under the PAGE framework, contributes to national efforts to align investment practices with Morocco’s sustainable development and climate objectives. Within this framework, the Mohammed VI Fund for Investment (FM6I) serves as a pilot institution for testing approaches to climate risk integration. Established in 2020 under the guidance of His Majesty King Mohammed VI, with an initial capital of 15 billion dirhams, the Fund is a state-owned investment vehicle that supports Morocco’s economic transformation through public–private partnerships and targeted equity investments. The lessons drawn from the pilot with FM6I will provide valuable insights for strengthening Morocco’s financial ecosystem and informing government-led initiatives to mobilize green and climate-resilient finance. At the government’s request, this assignment will support efforts led by the Ministry of Energy Transition and Sustainable Development (MTEDD), in collaboration with the Ministry of Economy and Finance (MEF), to develop a methodological and institutional approach for integrating climate risk management into investment evaluation processes across the national financial system. The Mohammed VI Fund for Investment (FM6I) will serve as a pilot institution for testing this approach, given its strategic importance and ongoing work on environmental, social, and governance (ESG) integration. This work will build on existing progress. FM6I has already implemented an ESG strategy aligned with international standards, including the IFC Performance Standards and Principles for Responsible Investment (PRI), and has operationalized environmental and social risk management systems for its direct investments and its “CapAccess” subordinated debt product. However, the explicit integration of climate-related risks remains an area for further development. The Partnership for Action on a Green Economy (PAGE), launched in 2013 following the Rio+20 call, aims to support countries towards greener and more inclusive growth pathways. It brings together the expertise of five UN agencies – the International Labour Organization (ILO), the United Nations Industrial Development Organization (UNIDO), the United Nations Institute for Training and Research (UNITAR), the United Nations Development Programme (UNDP), and the United Nations Environment Programme (UNEP) – to help nations integrate sustainability into their economic policies, promote growth, reduce poverty and inequality, create jobs, and strengthen the ecological foundations of their economies, in line with the UN's 2030 Sustainable Development Goals. Through the Partnership for Action on Green Economy (PAGE), UNEP will support the Government of Morocco in strengthening national capacities to assess, manage, and disclose climate risks across financial institutions. The experience gained with FM6I will serve as a practical demonstration that can inform broader policy and institutional reforms to enhance climate resilience within Morocco’s finance ecosystem. Morocco joined PAGE in 2020, identifying the mobilization of finance for a green and inclusive economy as a key national priority. This initiative directly contributes to that priority by advancing tools, evidence, and institutional capacities to redirect existing resources toward the green economy. The initiative will focus on two complementary dimensions: • On the one hand, the aggravation risks posed by investment projects on the climate and on Morocco's ability to mitigate and adapt to climate change and align with the objectives of the Paris Agreement (greenhouse gas emissions, changes in land use and cover, water use, etc.); • On the other hand, the risks posed by climate change on the viability and profitability of investment projects, which makes it possible to assess the resilience of financed economic activities to climate change as well as their adaptation needs. Implementing a systematic climate risk assessment framework requires a thorough understanding of the different dimensions of climate risk and their potential impacts on investment portfolios. This includes the analysis of physical risks, such as extreme weather events (droughts, floods) and long-term climate trends, including loss and damage related to climate change; and transition risks, related to regulatory changes, technological changes and market responses to climate change, including carbon non-compliance risks (e.g. EU Carbon Border Adjustment Mechanism), in order to avoid the creation of stranded assets. This framework should incorporate qualitative and quantitative assessment tools, allowing FM6I investment teams to assess climate risks across different asset classes and investment horizons. This comprehensive approach will help identify vulnerable investments and climate-resilient portfolio construction opportunities. The specific tasks, duties and responsibilities of the National Consultant include the following: • Collect data, national documents and other relevant documents necessary for the preparation of the study. • Carry out the diagnostic study of FM6I's current climate practices. • Prepare the review of good practices and lessons to be learned from other relevant Moroccan financial institutions and the specificities of the Moroccan context relevant to the development by the FM6I of an ESG strategy integrating climate risks. • Review the draft diagnostic study and international best practices and lessons learned prepared by the international consultant and contribute substantially to it through modifications and comments. • Review the draft methodology for the systematic assessment and management of climate risks prepared by the international consultant and contribute substantially through modifications and comments. • Facilitate the organization of monthly meetings with UNEP and PAGE Morocco on the progress of the study and facilitate effective communication with national stakeholders on the progress of the work. • Facilitate consultations with FM6I on the review and revision of the first draft of the study and the collection of their comments. • Organize in collaboration with the international consultant the training for FM6I staff on the subject of climate risk integration. • Organize in collaboration with FM6I the pilot implementation of the methodology on at least 3 investment projects and produce a report with aggregated data by sector. The pilot implementation will include projects in vulnerable sectors (agriculture, water, energy, coastal infrastructure), in order to produce usable lessons for both PNSA version 2 and the future Biennial Transparency Report (RBT). Qualifications/special skillsMaster's degree or higher in finance, economics, social and environmental corporate responsibility, climate science, or related field. (required) -In-depth knowledge of economic and financial dynamics, the regulatory context, and sustainable development and climate risk issues in Morocco is required. (required) In-depth knowledge of economic and financial dynamics, the regulatory context, and sustainable development and climate risk issues in Morocco is required. (required) Professional experience in producing relevant analysis for the financial sector, and particularly for institutional investors. (desired) -Experience in the design and delivery of customized training and advice on the topic of climate risks. (desired) -Strong analytical and research skills, with the ability to synthesize complex information and generate actionable insights. (desired) -A commitment to the principles and goals of sustainable development. (desired) LanguagesEnglish and French are the working languages of the United Nations Secretariat. Arabic and Moroccan Berber are the official languages of the Kingdom of Morocco. For the position advertised, fluency in English and French, both oral and written, is required. Knowledge of Arabic (desired) is considered an asset. 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.