Job Opening

Posting Title: UNEP Finance Initiative (UNEP FI) – Consultant for Fiduciary Duty in the 21st Century report,
Department/Office: United Nations Environment Programme
Duty Station: GENEVA
Posting Period: 18 March 2020 - 26 March 2020
Job Opening Number: 20-United Nations Environment Programme-133681-Consultant
Staffing Exercise N/A
United Nations Core Values: Integrity, Professionalism, Respect for Diversity
Sorry, this job opening is no longer available.

Result of Service

The services will be used by the Secretariat to provide assistance as part of the Work Programme on climate change and portfolio decarbonization, on fiduciary duty and by the Initiative as a whole – and in particular members of the Investment Commission - to assist institutions with their work in this area. However, portfolio decarbonization is an area relevant to all of FI’s members.

Work Location

Working remotely

Expected duration

The duration is one month.

Duties and Responsibilities

The United Nations Environment Programme Finance Initiative (UNEP FI) is a strategic public-private partnership between UNEP and the global financial sector. UNEP FI works with over 320 financial institutions, signatories to UNEP Statement of Commitment by Financial Institutions on Sustainable Development, and a range of partners and organizations, to embed environmental, social and governance considerations in financial decision-making. Through its industry, thematic and regional activities, UNEP FI promotes the adoption of sustainability practices by financial institutions and the finance sector at large.

In September 2015, UNEP FI and the Principles for Responsible Investment (PRI) launched the report Fiduciary Duty in the 21st Century. The report argued that modest changes in law and policy relating to fiduciary duty could catalyze significant and rapid change in the importance assigned by investors to ESG issues in their investment processes (The report looked at 8 countries). In 2016, UNEP FI, PRI and The Generation Foundation partnered to launch a four-year programme with the objective to implement the recommendations made in the report Fiduciary Duty in the 21st Century.

The consultant will work with UNEP FI members and the Principles for Responsible Investment Team to research and review a report of the programme “Fiduciary Duty in the 21st Century”.

The consultant shall be under the overall supervision of Head of UNEP FI and report directly to UNEP FI Investment Programme Officer. The consultant should take direction from the Programme Officer while final deliverables shall be approved by Head of UNEP FI.


Fiduciary Duty in the 21st Century Programme, seeks to update conceptions of fiduciary duty and in doing so create the conditions for a more sustainable global economy. The project finds that, far from being a barrier, there are positive duties to integrate environmental, social and governance factors in investment processes. Fiduciary duties exist to ensure that those who manage other people’s money act in the interests of beneficiaries. The most important fiduciary duties are the duty of loyalty and the duty of prudence. A decade after the original Freshfields report, changes in investment practice and in public policy demonstrate that far from being a barrier, there are positive duties on investors to integrate ESG issues. Following the launch of the report Fiduciary Duty in the 21st Century (2015), the Principles for Responsible Investment (PRI), the United Nations Environment Programme Finance Initiative (UNEP FI) and The Generation Foundation launched a three-year project to clarify investors’ obligations and duties in relation to the incorporation of environmental, social and governance (ESG) issues in investment practice and decision-making.

The project Steering Committee has recommended a final report be delivered before the end of the project. In this context, the consultant will carry out the following project tasks for UNEP FI in coordination with the Principles for Responsible Investment Team:

• A quantitative and qualitative analysis of current status and progress of the different project elements including all the country roadmaps published on www.fiduciaryduty21.org, the Global Statement in Investor Obligations and Duties and the multilateral engagements with the European Commission and the OECD.
• The analysis should identify indicators/performance measures that are most relevant to the project, element cited above and relevant to the long-term objective of the fiduciary duty programme.
• The analysis should include specific recommendations, and general advice to the project team on current progress, and alignment with mid to long term objectives of the fiduciary duty issue in relation to sustainable development more broadly.
• A public analysis of project outcomes developed in collaboration with the project team to be published in Q2 2020.
• The analysis should include a mapping of the recommendations and actions undertaken in several jurisdictions.
• The report should be designed in a way that makes it straight forward for investors to read (including graphs, info graphs, timelines etc.)

The consultant will finalise one report in a comprehensive and suitable format, with the coordination support from the UNEP FI Secretariat.

• An internal quantitative and qualitative analysis of the current status and progress of the different project elements including the 8 country roadmaps, the Global Statement in Investor Obligations and Duties and the multilateral engagements with the European Commission and the OECD.
• The analysis should benchmark the project against internal project management objectives (inputs, output measures and outcome measures) as well as against external objectives in terms of the expected outcomes of the overall programme.
• The analysis should identify indicators/performance measures that are most relevant to the project, element cited above and relevant to the long-term objective of the fiduciary duty programme.
• The analysis should include specific recommendations, and general advice to the project team on current progress, and alignment with mid to long term objectives of the fiduciary duty programme.
• The analysis could include a mapping of the recommendations and actions undertaken in several jurisdictions, quotes from stakeholders involved and an invitation for PRI signatories to engage with the project at national and international levels.
• The report should be designed in a way that makes it straight forward for investors to read (including graphs, info graphs, timelines etc.).

Qualifications/special skills

Skills: Proven knowledge in the field of sustainable finance, particularly responsible investment and a strong understanding of climate change risks and opportunities for institutional investors (e.g. pension funds, insurers); ability to cope with and manage complex projects and activities in an organised and timely manner; proven conceptual, analytical and evaluative skills; excellent communication (spoken and written) skills; outstanding ability to conduct both desk-top research and on-the-ground fieldwork; ability to work independently and with remote teams. Proven project management skills, particularly in international and multi-stakeholder environments. Proven conceptual, analytical and evaluative skills. Excellent written skills, including strong report writing skills. Ability to work and deliver independently with little oversight.

Academic Qualifications: Master’s Degree is required in one or several of the following areas: finance, law, business administration, environmental studies, economics, management or sustainable development. Ideally, the consultant will have published in this area or have access to, or support from, relevant academic networks.

Experience: 7 years of relevant experience is required, especially in the financial services sector and/ or responsible investment, or at NGOs, academic organizations, standard-setting bodies.

Language: Fluent written and spoken English is required. Knowledge of other official languages in the United Nations System is an advantage.

No Fee

THE 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.

Sorry, this job opening is no longer available.
Home | Privacy notice | Site map | Fraud alert | Contact Us
Copyright 2020 United Nations. All rights reserved