Senior Climate Finance Specialist

Senior Climate Finance Specialist

Job #:

req24585

Organization:

World Bank

Sector:

Climate Change

Grade:

GG

Term Duration:

3 years 0 months

Recruitment Type:

International Recruitment

Location:

Washington, DC,United States

Required Language(s):

Preferred Language(s):

English

Closing Date:

10/26/2023 (MM/DD/YYYY) at 11:59pm UTC

Description

Do you want to build a career that is truly worthwhile? The World Bank Group is one of the largest sources of funding and knowledge for developing countries; a unique global partnership of five institutions dedicated to ending extreme poverty and promoting shared prosperity. With 189 member countries and more than 120 offices worldwide, we work with public and private sector partners, investing in groundbreaking projects and using data, research, and technology to develop solutions to the most urgent global challenges. For more information, visit www.worldbank.org.

The Sustainable Development Practice Group & the Climate Change Group

Climate change, poverty, and inequality are the defining issues of our age. The World Bank is the biggest multilateral funder of climate investments in developing countries. Over $32 billion in 2022 alone - accounting for over half of multilateral climate finance to developing countries-and over two-thirds of adaptation finance. We intend to go further in helping countries reduce poverty and rise to the challenges of climate change with our revamped mission to create a world free from poverty on a livable planet.

The Sustainable Development (SD) Practice Group (PG) helps countries tackle their most complex challenges in the areas of Agriculture and Food, Climate Change, Environment, Natural Resources & Blue Economy, Environmental and Social Framework, Urban, Disaster Risk Management, Resilience & Land, Social Sustainability and Inclusion, and Water. The Climate Change Group (CCG) resides in the SD PG and is responsible for mainstreaming climate change across the Bank and scaling climate finance.

The Climate Finance & Economics Unit

The Climate Finance & Economics Unit (SCCFE) is one of five units in the World Bank's Climate Change Group (CCG). The mandate of the unit encompasses three workstreams:

(i) Climate analytics and diagnostics: development of climate analytics and diagnostics, including tools, instruments and flagship reports that inform climate policy, priorities and finance;

(ii) Carbon markets & finance and carbon pricing: support client countries on carbon markets and carbon pricing and drive innovation in international carbon markets infrastructure; and

(iii) Scaling up and innovation in climate finance: develop innovative climate finance instruments and business models to help the Bank scale up climate finance.

SCCFE accomplishes its mandate in close collaboration with other units within CCG and other regional teams and global practices (GPs).

About the Position:

SCCFE is seeking a highly motivated Senior Climate Finance Specialist. The selected candidate• Will contribute to the thought leadership for and delivery of the climate finance workstream and support the delivery of the SCCFE's carbon markets and finance and carbon pricing work program. • Is expected to demonstrate solid understanding of key climate change issues, climate finance, carbon markets, and carbon pricing. • Will have as a proven track record in originating and structuring innovative climate finance approaches, in particular have the ability to structure and integrate financial innovation into World Bank products and operations. • Is expected to have strong analytical and project management skills, superb attention to detail, and excellent communication, interpersonal skills and ability to work across Practice Groups, in particular the financial complex of the World Bank.

The position will be based in Washington, DC and will report to SCCFE's Practice Manager.

Duties & Accountabilities

• Contribute the strategy for and execution of SCCFE's climate finance workstream and provide expertise and insight on climate finance and the role of the financial sector in climate change mitigation and adaptation. • Structure innovative climate finance approaches and integrate financial innovation into World Bank products and operations, including on the design and implementation of interventions that mobilizes climate funds, public and private capital for climate mitigation, adaptation and resilience projects.• Support identification and development of new synergies and partnerships, and deepen existing engagements across teams in CCG, the GPs, Regions and externally, where climate finance approaches and instruments have the potential to support countries in transitioning to low carbon economies and mobilizing finance. • Participate as core team member in policy and/or investment operations in relevant sectors and collaborate with operational teams to source, evaluate, develop, and execute innovative business models, financial structures, and platforms to scale up climate finance in World Bank's products and operations. • Playing a leading role in supporting GPs and Regions on developing project pipeline for climate transition programs across sectors.• Collaborate with Regions and the GPs for sustainable development of climate-smart investments through regular outreach with global climate funds and private sector initiatives, ESG investors, rating agencies, public and private stakeholders, including government client counterparts, private sector, thinktanks, NGOs, etc.• Playing a leading role in designing innovative financing products for scaling-up climate finance in WB operations.• Contribute to leading the design of complex ASA programs and knowledge products on cutting-edge areas of climate and carbon finance, pricing, adaptation and mitigation. Disseminate WB capabilities, products and instruments to scale-up climate finance through targeted knowledge products, blogs and webinars.• Support internal and external clients on knowledge, innovations, trends, and approaches to climate finance, working closely with sector specialists to create a seamless interface for clients between low carbon transition (including carbon pricing) and broader sector reform policies, dialog and technical assistance.• Develop and maintain close relationships with IFC, MIGA, WB Global Practices, regional teams, Treasury, Development Finance (DFI) and the Operations, Policy and Country Services (OPCS) Vice Presidencies.• Collaborate with Lead Climate Finance Specialist and SCCFE Practice Manager to set the agenda for and organize meetings of the cross-WBG Climate Finance Working Group.• Mentor staff in the Climate Finance workstream and the wider SCCFE team as needed.

Perform other duties and functions as assigned by the SCCFE Practice Manager, SCCFE Lead Climate Finance Specialist, or other SCCFE leads.

Selection Criteria

• A Masters' level degree, or equivalent post-bachelor's qualification in finance, economics, environment, law, or public administration or other relevant areas;

• At least eight years of combined experience in the World Bank, other international institutions/ companies and/or government including.

• Demonstrated experience in developing and implementing innovative investment program and climate finance instruments.

• Deep understanding of World Bank's products and operations (including trust funds) so as to be able to integrate new climate finance structures.

• Experience with and/or exposure to recent developments in climate mitigation approaches; good understanding of carbon pricing and international carbon markets and climate agreements;

• Demonstrated ability to innovate from ideation, through concept development and piloting, mobilizing climate finance and implementation of projects across sectors

• Solid understanding and experience of climate finance, structured finance, capital markets, ESG linked finance instruments and products.

• An understanding of market trends and innovative financial developments across sectors and regions and an ability to translate such trends and developments to potential opportunities that could expand the World Bank's project pipeline that is targeted to mobilize private sector financing.

• Experience with leading teams, working effectively as part of multi-cultural teams, and mentoring staff; and

• Excellent oral and written communication skills in English; Proficiency in other WB languages will be an advantage.

Climate Change Competencies

World Bank Group Core Competencies

The World Bank Group offers comprehensive benefits, including a retirement plan; medical, life and disability insurance; and paid leave, including parental leave, as well as reasonable accommodations for individuals with disabilities.

This internal requisition is open to WBG andIMF staff only (including short-term and extended term consultants/temporaries). External candidates are requested not to apply. In case anexternal candidate applies, their application will not be considered.

We are proud to be an equal opportunity and inclusive employer with a dedicated and committed workforce, and do not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.

Learn more about working at the World Bank and IFC, including our values and inspiring stories.