Sustainable Fiance Lead, Africa
Please note that the deadline is based on Korean Standard Time Zone (KST, UTC+9)
INTRODUCTION TO GGGI
The Global Green Growth Institute (GGGI) is a treaty-based international, inter-governmental organization dedicated to supporting and promoting strong, inclusive and sustainable economic growth in developing countries and emerging economies. To learn more please visit about GGGI web page.
The Global Green Growth Institute (GGGI) is an intergovernmental organization founded to support and promote a model of economic growth known as green growth, which targets key aspects of economic performance such a poverty reduction, job creation, social inclusion, and environmental sustainability. GGGI works with countries around the world, building their capacity and working collaboratively on green growth policies that can impact the lives of millions. The organization partners with countries, multilateral institutions, government bodies, and the private sector to help build strong economies that are more efficient and sustainable in the use of natural resources, less carbon intensive, and more resilient to climate change. GGGI supports stakeholders through complementary and integrated workstreams that deliver comprehensive products designed to assist in developing, financing, and mainstreaming green growth in national economic development plans.
GGGI has a rapidly expanding sustainable finance portfolio, especially on green, social and sustainable (GSS) bonds, having supported GSS bond issuances exceeding USD 6.5 billion. In 2024 GGGI has entered into a partnership with the European Commission (EC) to deliver technical assistance under the framework of the EU Global Green Bond Initiative (GGBI).
CONTEXT
Under the framework of the GGBI, GGGI is tasked to promote the development of green bond markets by accompanying first-time issuers in EU partner countries across Latin America and the Caribbean (LAC), Southeast Asia (SEA) and Subsaharian Africa (SSA) to enter the green bond market.
GGGI is to support a minimum of fifteen (15) issuers from low- and middle-income countries throughout the issuance of green bonds, mobilizing at least USD 3 billion, yielding significant environmental and economic benefits, including a reduction of emissions equivalent to 130 million tons of CO2e, the sustainable management of 300,000 hectares of forest, the creation of 250,000 green jobs and enhance the climate change resilience of 2 million beneficiaries.
GGGI activities are organized under 4 outputs:
Outcome 1: Thematic Bond Markets are Scaled up
Workstream 1: Horizontal Capacity-Building and Awareness Programme
Workstream 2: Transaction-Based Technical Assistance
Output 1.1 Country-level capacity building to public and private actors on Green Bonds pre- and post-issuance processes, requirements and steps delivered
Output 1.2 Awareness raising material and case studies disseminated
Output 1.3. Green Bond pre-issuance support delivered to potential issuers
Output 1.4 Green Bond post-issuance support delivered to issuers
POSITION SUMMARY
Based in Addis-Abeba, Ethiopia, the Sustainable Finance Lead will hold overall responsibility for the implementation, oversight and management of GGGI-GGBI activities in Africa.
The Sustainable Finance Lead will lead the identification and engagement of perspective issuers, accompany them throughout the pre- and post-issuance process, including stakeholders engagement (regulators, arrangers, underwriters, stock exchanges, investors, guarantors), green bond framework development, green project pipeline development, roadshow organization and delivery, second party opinion negotiation, development of impact reporting.
PURPOSE
The Sustainable Finance Lead will be the regionsโ sustainable finance highest technical expert, and will thus be expected to take the lead on the delivery of GSS bond pre- and post-issuance processes, with minimal support from external consultants. The Sustainable Finance Lead will support at least 10 green bond issuances over a period of 4 years. The Lead will work closely with Sustainable Finance and Green Investment Officers across the region, supervise a Sustainable Finance Associate, and maintain a double reporting line to the GGBI Program Manager and the Africa Regional Director.
ENGAGEMENT
Build and maintain strong relationships with ministries of finance and environment, local financial institutions, national development banks, international financial institutions and international climate funds Engage with partners, donors and industry actors to identify new sustainable finance opportunities to expand Sustainable Finance Workstreams in Africa Support the engagement with GGGI member countries on sustainable finance and green investment workstreams Map and engage with potential green bond issuers, secure mandate letters to activate GGGI-GGBI technical assistance Map, identify and engage with potential green bond issuers, stock exchanges, SPO providers and relevant industry actors Build and maintain a network of partner Second Party Opinion providers, Stock Exchanges, partner Arrangers, institutional investors, perspective issuers
DELIVERY
Act as Africaโs principal sustainable finance expert, providing on-demand support to country programs on sustainable finance matters Develop issuersโ Green Bond Frameworks, including i) Use of Proceeds, ii) Process for projects identification and selection, iii) Management of Proceeds, iv) Monitoring and reporting; Deliver capacity building to perspective issuers, in the form of workshops, webinars and bilateral engagement to build issuersโ awareness and capacity to complete green bond issuances; Negotiate with Second Party Opinion providers to secure positive evaluation of issuersโ green bond framework; Accompany the issuers in investor roadshows to respond and clarify potential investorsโ questions; Assist issuers to screen, identify, prioritize and select eligible green projects; Advise the Africa Regional Director to identify new sustainable finance opportunities to expand Sustainable Finance Workstreams in Africa
REQUIREMENTS
QUALIFICATIONS
Masterโs degree in Economy, Finance, Public Administration, Social Science, or other related fields An advanced degree in Finance, Public Administration, Economics, International Affairs or other relevant field Preferably at least 10 years of professional experience in sustainable finance Minimum of two (2) years of living and working outside of their country/countries of nationality (periods of study, volunteer work or internship positions would not be included). Prior experience with green, social, or sustainable bonds is required Familiarity with national and international taxonomies is strongly preferred (e.g. EU taxonomy, Climate Bond Initiative) Experience and familiarity with sustainable finance and sustainable banking standards is an asset Excellent written and oral communication skills in English and French are essential for this position (the selection process will involve a technical tests in English)
FUNCTIONAL
Exceptional analytical skills, alongside strong synthesis skills Leadership, teamwork and creative problem-solving abilities Able to pick up and assimilate relevant information quickly and easily. Learns new tasks rapidly. Responds swiftly and appropriately. Can think on their feet in rapidly changing environments. Excellent ability to multi-task and prioritize under stressful circumstances. Attention to detail, quality control and strong organizational abilities.
CORPORATE
Understand and actively supports GGGIโs mission, vision and values. Promote an organizational culture of trust, transparency, respect and partnership. Process and share information easily. Manage emotions and stress positively, builds rapport and resolves conflict easily. Promote creativity and innovation among staff. Be able to lead where needed and provide solutions to project-level challenge.
WORK CONDITIONS
The Sustainable Finance Lead is an X10 grade level in GGGI's International Position Scale. For X10 International grade, the base salary starts from USD 93,480 with an expatriate benefit upon the eligibility of selected candidate. Determination of base salary is subject to candidate's experience, academic background and internal equity. GGGI provides 15% of base salary towards retirement plan/long-term savings, 27 days of annual leave, and private health insurance that covers dental and vision.
GGGI is committed to providing a work environment that is sufficiently flexible to accommodate diverse life-cycle challenges and assist Staff members to achieve a better balance between work and personal/family commitments, thus ensuring high performance, long-term productivity, and well-being of Staff members
Child protection โ GGGI is committed to child protection, irrespective of whether any specific area of work involves direct contact with children. GGGIโs Child Protection Policy is written in accordance with the Convention on the Rights of the Child.