Sustainable Finance Consultant

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.

GENERAL INFORMATION

Project: PE048-E1-4

Duty Station: Lima, Peru

Estimated Workdays: 100 days

Consultant Level: Level 3

Budget: US $20,900

Deliverable-based or daily rate: Deliverable-based

PROJECT BACKGROUND

Accelerating Biodiversity Conservation in the Peruvian Amazon: Innovative and Inclusive Financial Mechanisms for Peru (ABCPA)\" is a 25-month technical assistance program that GGGI is implementing for the Peruvian government in partnership with the Ministry of Environment, Ministry of Economy and Finance, and other pertinent public entities, including the National Park Services, National Forest and Wildlife Service, and Ministry of Women and Vulnerable Populations. The program, which is supported by the Amazon Regional Fund (ARF), an arm of the UK's Partnering for Accelerated Climate Transitions (UK PACT) initiative, which is a part of the UK's International Climate Finance (ICF) portfolio, aims to play a key role in implementing the nation's National Strategy for Biological Diversity (NBSAP), which outlines strategic measures and actions to accelerate the implementation of international environmental finance, biodiversity finance frameworks, and private sector investments in biodiversity projects and initiatives.

The project addresses critical barriers to biodiversity conservation in Peru by establishing the financial and institutional frameworks and conditions necessary for the sustainable management of the country's biodiversity. Peru's biodiversity is under significant threat due to a lack of cohesive financial mechanisms and frameworks for effective biodiversity conservation. To overcome these challenges, the project aims to strengthen the alignment between Peru's financial architecture and the country's biodiversity needs by designing and implementing innovative and inclusive financial mechanisms, such as biodiversity bonds, and habitat banks.

The project adopts a collaborative, government-led approach to establish the enabling conditions needed to overcome barriers to biodiversity conservation. It will do so by raising awareness of the materiality of nature-related financial risks (OU1), developing standardized definitions and metrics for biodiversity conservation and strengthening the integration of nature-based solutions into Peru's Nationally Determined Contributions (NDCs) (OU2), complemented by GEDSI-responsive implementation strategy (OU3). These foundational actions will pave the way for the development of a National Financing Strategy for Peru's Biodiversity (OU4), which will outline innovative financing mechanisms and set the stage for the design and piloting Habitat Banks (OU5), and the integration of biodiversity conservation into public debt instruments (OU6). Together, these efforts will establish a cohesive financial structure to support Peru's National Strategy for Biological Diversity (NBSAP), advancing progress toward the 30 by 30 roadmap goals.

Key expected outcomes include increased financial flows toward biodiversity conservation, strengthened institutional frameworks, and a more equitable distribution of social and economic benefits. By 2027, the project will have mobilized USD 500 million toward the sustainable management of 300,000 hectares of forests, providing a sustainable foundation for biodiversity conservation and climate resilience, directly benefiting the livelihoods of 500,000 people and contributing to the mitigation of up to 20 M tCO2e.

OBJECTIVES OF THE ASSIGNMENT

The Global Green Growth Institute (GGGI) is seeking a Sustainable Finance Consultant to support the construction of two Thematic Bond Frameworks. Working under the direct supervision of GGGI staff SPA Sustainable Finance, the Consultant will ensure the framework aligns with recognized international standards, such as ICMA’s Principles and aid in the Second Party Opinion (SPO) review process. Additionally, through regular coordination and guidance from GGGI’s Project Manager, the Consultant will contribute in capacity building efforts regarding sustainable finance.

The main objective of this assignment will focus on providing operational support in the design of two Thematic Bond Frameworks and their respective Second Party Opinion (SPO) review for GGGI counterparts. This effort will involve the alignment to international standards defining clear eligibility criteria, outlining robust governance and oversight structures, and establishing transparent reporting protocols to ensure the credibility of the issuers.

SCOPE OF WORK - DELIVERABLES

Under supervision of the SPA Sustainable Finance, the consultant will deliver the following:

Deliverable 1: Work Plan

The Consultant will develop a clear and actionable work plan outlining the tasks, timelines, and resources required to support various GGGI´s counterparts in building a total of three Thematic Bond Frameworks with three Second Party Opinions. This plan will detail internal review milestones, and coordination mechanisms, ensuring efficient collaboration with GGGI staff and relevant external parties.

Deliverable 2: Operational Support for Three Thematic Bond Framework Construction

The Consultant will carry out a focused review of the beneficiaries’ general information, project pipeline, portfolio data, and relevant market analyses to inform the development of the framework’s introductory section and identify potential sectors aligned with sustainable finance eligibility criteria. This process will include gathering and synthesizing inputs from GGGI staff, as well as from relevant internal and external sources. The outcome will be a set of well-founded recommendations, including the framework’s introduction, proposed use-of-proceeds categories with corresponding eligibility criteria aligned to international standards, and guidance in the project selection process, proceeds management, and monitoring and reporting sections of the framework. The method of verification will be three ICMA aligned final drafts of the relevant counterpart approved by GGGI`s project manager.

Deliverable 3: Operational Support for Three Second Party Opinions

The Consultant will provide operational support throughout the Second Party Opinion (SPO) process to ensure alignment between the drafted sustainable finance framework and international best practices. This includes preparing technical documentation, resolving questions from the selected SPO provider, and supporting the timely exchange of information between the beneficiary, GGGI, and the external reviewer. The Consultant will also assist in responding to technical queries from the SPO provider and facilitate revisions to the framework as needed to meet the requirements for a positive opinion. The method of verification will be three final draft opinions of the relevant SPO provider.

PAYMENT SCHEDULE

Please note that payments will be disbursed based on the successful completion (reviewed and approved by the project manager GGGI, an approval is granted once the corrections suggested in the review process are implemented) of the deliverables described above, according to the following table:

Deliverables

Payment Percentage

Completion Date

Deliverable 1: Work Plan

15%

Two weeks upon contract’s start date

Deliverable 2: Operational Support for Frameworks Construction

60%

Twelve weeks upon contract’s start date

Deliverable 3: Operational Support for Second Party Opinions

25%

Twenty weeks upon contract’s start date

COORDINATION AND COMPLIANCE

The consultant will make the best use of both primary and secondary sources of information to develop activities defined under the contract objective

All deliverables and each of its related activities must be approved by the GGGI Project Manager to be marked as completed

This consultancy fee is a lump sum cost

This is a full-time hybrid consultancy: (50%) remote, (25%) in-person at counterpart, and must be able to attend in person meetings at GGGI´s office in Lima, Peru (25%) that may be notified with less than 24 hours in advance

EXPERTISE REQUIRED

5+ years relevant experience in the national context with a Master’s degree, or equivalent combination of relevant education and experience

Tangible Experience in Sustainable Finance

Verifiable experience in thematic bond framework development, second party opinion review processes

Prior experience in local or international capital markets is highly valued

English Proficiency Required

Knowledge and skills:

ICMA’s thematic bond principles

Proficiency in Microsoft Office Suite

Financial acumen and proficiency

Climate, Nature, Biodiversity Finance

Proactive Learner

Assertive Communication Skills

ADMINISTRATIVE INFORMATION

Request: GGGI Application form, CV and cover letter

Selection method/process: competitive

Timeline of selection: 14 days

Date to close is Korean Standard Time (KST). Applications submitted after the deadline will not be considered Application. Cover Letter, and CV must be sent in English. A consortium, or a firm may not be engaged for the individual consultant assignment.

ANTI-FRAUD AND SAFEGUARD

GGGI is committed to apply transparency and accountability in its decisions and actions, and to practice integrity in all aspects of its operations. GGGI’s anti-corruption policy establishes zero tolerance for corruption and fraudulent, coercive, and collusive practices in GGGI’s operations. The whistleblowing policy is available at the following link https://gggi.org/site/assets/uploads/2017/11/Whistleblower-Policy_02072015.pdf

In addition, all GGGI’s policies are available for open consultation under the following link: https://gggi.org/policy-documents/

Lastly, within the framework of UK PACT Peru’ projects with GGGI and their respective activities, the following reporting channels from FCDO (UK Foreign, Commonwealth & Development Office) are available to GGGI suppliers and consultants:

reportingconcerns@fcdo.gov.uk: to report any case of fraud or theft (whether proven or suspected).

reportingconcerns@fcdo.gov.uk: to report any credible suspicions of or actual incidents of sexual exploitation, abuse, or harassment related.

Child protection – GGGI is committed to child protection, irrespective of whether any specific area of work involves direct contact with children. GGGI’s Child Protection Policy is written in accordance with the Convention on the Rights of the Child.