The purpose of this consultancy is to assist the Project Coordinator for overall project financial and operational management activities and provide technical inputs related to the project coordination of the Green Climate Fund (GCF) Readiness project “Aligning financial flows of the financial sector in Panama with the Paris agreement climate change goals ” whose main objective is to provide the guiding structure for the financial sector to: (1) mobilize private capital flows towards a low-emission and climate-resilient economy and; (2) strengthen the resilience of the financial system to climate-related financial risks.
Specifically, this GCF Readiness in Panama will achieve its objective by executing the following Outputs:
Output 1.2.1 Pre-accreditation technical assistance support for one Direct Access Entity candidate for the GCF;
Output 2.4.1. Workplans and constitutive arrangements for the Taxonomy Committee and the Environmental and Social Risks Analysis Committee within the Panama’s Sustainable Finance Working Group (GTFS) established to develop and implement (1) Panama’s sustainable finance taxonomy; and (2) methodologies and tools for identifying, assessing, and managing climate-related financial risks;
Output 2.4.2 The sustainable finance taxonomy is developed, piloted, and endorsed by the GTFS’s Taxonomy Committee;
Output 2.4.3 Framework (tool and methodologies) for identification, assessment and disclosure of climate-related financial risks and opportunities for banking and insurance sectors are developed, piloted and endorsed by the GTFS’s Environmental and Social Risks Analysis Committee;
Output 2.4.4 Capacity within financial supervisors and regulators, and financial institutions is built on sustainable finance taxonomy (including green labeling of financial products and green bonds), and climate-related financial risks;
Output 4.1.1: Pipeline identified and prioritization assessments.
Output 4.1.2 A concept note for mainstreaming climate mitigation and adaptation in the financial sector is developed, validated by relevant stakeholders, and ready to be submitted to the GCF by Panama’s NDA and;
Output 5.1.1 Lessons learned, and activities results are shared and disseminated with national and international finance sector audiences as well as the wider climate change policy community.
This GCF Readiness in Panama aims to provide relevant technical assistance, based on the GTFS already established governance structure and identified priorities. The GTFS includes the participation of the 95% of Panama’s financial sector and its main objective is to turn Panama into a sustainable finance center. Overall, the GTFS identified the following priorities: (1) develop and implement a national sustainable finance taxonomy; (2) address climate-related and nature-related financial risks; (3) enhance green investments and (4) publicly disseminate environmental information. Considering these four priorities, the GTFS is composed of four committees (Taxonomy Committee, Environmental and Social Risk Analysis Committee, Investments Committee, Environmental Public information Committee) with the Stock Exchange acting as its secretariat.
This GCF Readiness in Panama hence builds upon the existing engagement and commitment from the Panama’s financial sector, strengthening existing governance structures, under the GTFS, and ensuring the transfer of international methodologies and best practices, adjusted to the local context and capacities, to drive sustainable finance in the country. The main beneficiaries of this GCF Readiness in Panama are the private financial institutions in Panama (banks, insurers, and investors) and their financial supervisors and regulators (Superintendency of Banks of Panama (SBP), Superintendency of Insurance and Reinsurance of Panama (SSRP), and Superintendency of the Securities Market (SMV)).
The Project Coordinator Support Consultant, who is also under the PCU, will support the Project Coordinator with technical, administrative and operational activities related to all individual technical consultants , hired under the Technical Team (TT), and in the exchanges with other internal partners (technical teams of other areas of UNEP FI involved in the execution of the project).
In order to achieve the expected Outcomes, Outputs and Deliverables, the Project Coordinator Support will perform the following tasks, but are not limited to:
A. Project Management - Financial, Administrative and Human Resources
o Assist the Project Coordinator for all kinds of financial and project management related activities including liaison with different government agencies/UNEPFI and other key stakeholders, as directed;
o Draft the terms of reference and works/products requirements/specifications and support the identification, selection, and recruitment of consultants;
o Provide support with procurement processes, including updating the procurement plan (if required), coordinating review panels, preparing long/shortlisting score-chart and contributing to shortlisting and logistical support, contacting candidates to coordinate testing and interviews, finalizing associated minutes and desk reviews, preparing requests for contracts /amendments as needed.
o Assist in the timely issuance of contracts and assurance of other eligible entitlements of the projects personnel, experts, and consultants by preparing recruitment plans
o Assist with reviewing deliverables and processing payments from technical consultants upon the final approval of the Project Coordinator and the Programme Management Officer on Sustainable Finance for the LAC region
o Review accuracy of requests for payment from vendors, completeness of supporting documents, obtain clearances, and ensure timely processing of payment;
o Assist in the overall aspects of the project accounts, budgeting, budget revisions, financial operations and reporting and auditing.
o Maintenance of financial records for UNEP/GCF and government/ national counterparts for which responsibility is assigned
o Provide technical insights for the preparation of detailed cost estimates and participation in budget analysis and projections as required.
o Track budget spending planning and expenditures in an excel table and prepare financial plans, status reports, progress reports and other financial reports following specific requirements from GCF and UNEP.
o Assist in the timely preparation of the annual and semi-annual work plans, procurement plans, request for changes (if needed), and cash advance requests
o Draft bi-annual project Interim Progress Report (IPR) (progress against planned activities, update on risks issues, expenditures, etc.);
o Support in the preparation of an exit strategy at least 6 months ahead of the project closure date; ensure closure of the project is done according to the UNEP established procedures.
o Assist project financial closure formalities including submission of terminal reports, transfer and disposal of equipment (if necessary), and support the Project Coordinator in preparing the terminal assessment reports.
o Full compliance with UNEP rules and regulations of financial processes, financial records and reports and audit follow up
o Undertake other tasks assigned by the Project Coordinator as part of the approved GCF Readiness
B. Project Planning and Implementation
o Assist the Project Coordinator in ensuring project outputs/activities/deliverables are aligned with the project documents;
o Provide support with the follow up the technical/non-technical products that will be delivered by various consultants and internal counterparts meet expected deadlines and are recorded and reported accordingly;
o Perform research activities such as literature review and synthesis, contribute to the preparation of power point presentations, and gather background material for activities carried out by PCU/TT;
o Draft correspondence, and prepare mailings of publications in relation to the project, as appropriate;
o Support in the drafting of necessary strategic documents concerning project design and implementation, such as policy and technical papers, results frameworks, work-plans etc;
o Regularly monitor and report on project performance and delivery to the Project Coordinator, including progress, achievements, challenges encountered and proposed corrective actions;
o Undertake background information and provide technical inputs on completed deliverables to be submitted and approved by the Project Coordinator;
o Act as a project focal point and support to prepare monthly project peporting and presentations to government agencies, UNEPFI, and other key relevant counterparts (PCU, TT, PSC, GTFS, etc.)
o Support stakeholder consultation processes to validate activities/deliverables and project results.
o Assist in performing capacity-building programmes, planning and facilitating workshops, webinars and other meetings;
o Assist in several project-related activities may include (but not limited to) planning for meetings, local and national consultations, trips and other project-related activities, as assigned by the authorities;
o Facilitate the preparation of project events, training sessions and other relevant dialogues by identifying experts; developing and updating agendas, participants lists, and draft reports; and identifying logistical requirements for events and ensuring they follow UNEP policies and standards;
o Maintain regular and clear communications with all event counterparts to assure preparations are made on time;
o Prepare invitation letters and letters of agreement and assuring travel arrangements are adequate and all administrative tasks are properly taken care of (including follow-up on payments, if applicable).
o Follow any other duties as delegated by the Project Coordinator related to the GCF Readiness implementation
o Assist the Project Team for preparation of monthly, quarterly and annual progress reports to UNEP/UNEPFI and GCF
C. Project Activities/Deliverables Execution
It is expected that the PCU, the Project Coordinator, with the support of the Project Coordinator Support Consultant and individual technical consultants, will be responsible for the development of specific project activities/deliverables. In this case, the Project Coordinator Support Consultant will assist the Project Coordinator in developing the following activities:
- Output 1.2.1: Pre-accreditation technical assistance support for one DAE candidate:
o Support in the identification of domestic financial institutions (FIs) for accreditation to GCF as Direct Access Entities (DAEs)
- Output 2.4.1: Workplans and constitutive arrangements for the Taxonomy Committee and the Environmental and Social Risks Analysis Committee within Panama’s Sustainable Finance Working Group (GTFS) established to develop 1) Panama’s sustainable finance taxonomy; and 2) methodologies and tools for identifying, assessing, and managing climate-related financial risks.
o Support in the preparation and logistics of a workshop with key national and international financial actors with the objective of defining workplans and constitutive agreements for the development and implementation of Panama´s sustainable finance taxonomy, and methodologies and tools for identifying, assessing, and managing climate-related financial risks.
o Assist in the development of the committee’s workplan and constitutive arrangements for developing and implementation: 1) sustainable finance taxonomy; and 2) methodologies and tools for identifying, assessing, and managing climate-related financial risks.
o Prepare the minute(s) document related to the workshop with key national and international financial actors with the objective of defining workplans and constitutive agreements for the development and implementation of Panama´s sustainable finance taxonomy, and methodologies and tools for identifying, assessing, and managing climate-related financial risks.
- Output 2.4.2: The sustainable finance taxonomy is developed, piloted, and endorsed by the GTFS’s Taxonomy Committee:
o Organize and set up the technical roundtables for discussing and developing the eligibility criteria and requirements per economic sectors/subsectors for Panama’s sustainable finance taxonomy
o Organize workshops per technical roundtable for discussing and developing the eligibility criteria and requirements for Panama’s sustainable finance taxonomy
o Support the organization of an open consultation of the sustainable finance taxonomy and tool to receive comments/feedback from relevant stakeholders, incorporate the comments/feedback, and develop the final taxonomy and tool ready to be published by the local authorities.
- Output 2.4.3: Framework for identification, assessment and disclosure of climate-related financial risks and opportunities for banking and insurance sectors are developed, piloted and endorsed by the GTFS’s
Environmental and Social Risks Analysis Committee:
o Support in the identification of the (national) climate data sources to develop the methodologies and tools for identifying, assessing, and managing climate-related financial risks (climate-data gap analysis)
o Provide inputs how current banks and insurance companies in Panama currently incorporate climate change in their governance, strategic framework, risk management and reporting processes via structured surveys and interviews.
o Assist in the creation of two working groups (one for banks, and the other for insurance companies) for testing the methodologies and tools for identifying, assessing, and managing climate-related financial risks in pilot participants’ portfolios
o Provide inputs in the development the concept and budget of an online reporting system of the climate-related financial risk exposure (both physical and transition) under the framework of the National Climate Transparency Platform
- Output 2.4.4: Capacity within financial institutions is built on sustainable finance taxonomy, climate-related financial risks exposure and management, and green products/lines, including green bonds.
o Support in the design and implementation of an online training program within financial institutions regarding i. Panama Taxonomy-Module ii. Panama Climate-related financial risk management iii. Green finance line/product/service design, including green bonds with the objectives to train financial entities during the piloting process, and to train financial entities, policymakers, regulators, supervisors and stakeholders interested in better understanding the application of the sustainable finance taxonomy, the climate-related risk disclosures, and the business opportunities for green finance line/product/service design, including green bonds.
o Support in the design and implementation of an online responsible banking training program.
- Output 4.1.1: Pipeline identified and prioritization assessments.
o Support in the identification, prioritization and selection of the financial instrument(s) that will be developed in the concept note.
o Provide substantive support for the development of a pre-feasibility study for a concept note for mainstreaming climate mitigation and adaptation in the financial sector
- Output 4.1.2 A concept note for mainstreaming climate mitigation and adaptation in the financial sector is developed, validated by relevant stakeholders, and ready to be submitted to the GCF by Panama’s NDA:
o Provide technical inputs for the development of the first draft of a GCF concept note for mainstreaming climate mitigation and adaptation in the financial sector.
o Support the logistics in the engagement of the NDA, GCF, Accredited Entities (AE), and relevant stakeholders to validate and incorporate feedback
o Identify potential AE to take up the concept note for further development to a full funding proposal.
- Output 5.1.1: Lessons learned, and activities results are shared and disseminated with national and international finance sector audiences as well as the wider climate change policy community, as well as the wider climate change policy community, thus ensuring the practical use of the deliverables and procedures of classification designed for this purpose.
o Organize a 3-day training to build capacity on ESS policies, gender policy and fiduciary policies and procedures that will satisfy the GCF requirements for new and pre-identified DAE candidates.
o Support in the communication of lessons learned and activities from Panama’s processes on developing the taxonomy and climate-related financial risk disclosures, via the Panama Climate Transparency platform and the GTFS platform.
Ministry of Environment of Panama, Panama City, Panama
12 months
The United Nations Environment Programme (UNEP) is the leading global environmental authority that sets the global environmental agenda, promotes the coherent implementation of the environmental dimension of sustainable development within the United Nations system and serves as an authoritative advocate for the global environment.
The UNEP Latin America and the Caribbean Office (LACO), located in Panama City, works closely with the 33 countries of the region and its activities are integrated into the Medium Term Strategy and the Programme of Work approved by the United Nations Environment Assembly (UNEA).
The overall objective of the UNEP’s Economy Division is to encourage decision-makers in government, local authorities, and industry to develop and adopt policies, strategies and practices and technologies that promote sustainable patterns of consumption and production, make efficient use of natural resources, ensure safe management of chemicals, and contribute to making trade and environment policies mutually supportive. It promotes the development, use and transfer of policies, technologies, economic instruments, managerial practices, and other tools that assist in environmentally sound decision-making and the building of corresponding activities.
The United Nations Environment Programme Finance Initiative (UNEP FI) is a strategic partnership between the United Nations and over 450 banks, insurers, and investors. UNEP FI also brings together a large network in the Latin America and the Caribbean (LAC) region of over 130 banks, insurers, and investors. For 30 years UNEP FI has been shaping and driving the international sustainable finance agenda, setting global standards, and growing a global network of leading financial institutions. Through its workstreams and regional activities, peer learning, methodology development, training and research, UNEP FI carries out its mission to help the financial industry align with and contribute to the Sustainable Development Goals and with that take on the crucial role it must play in achieving a sustainable future.
UNEP LACO & UNEP FI support LAC member states to develop the appropriate frameworks to steer capital flows into environmentally sustainable investments, recognizing that sustainable finance has a key role to play in the LAC Green Transition. UNEP LACO & UNEP FI support LAC policymakers, central banks, financial supervisors and regulators, and financial institutions in developing and supporting implementation of national taxonomies and disclosure standards and methodologies and tools to map, quantify, and disclosure climate-related risks, aligned with the Task Force on Climate-related Financial Disclosure (TCFD) and the Task Force on Nature-related Financial Disclosure (TNFD).
In 2022, the Green Climate Fund (GCF) board approved the GCF Readiness Proposal “Aligning financial flows of the financial sector in Panama with the Paris Agreement climate change goals”. The National Designed Authority (NDA) in Panama, the Minister of Environment, has nominated UNEP to be its Delivery Partner for this proposal, where the funds will be disbursed from the GCF to UNEP to undertake the Readiness grant implementation, in close coordination with the NDA and others relevant country authorities involved in the agreed project governance mechanism.
This GCF Readiness aims to provide the guiding structure for the financial sector to: (1) mobilize private capital flows towards a low-emission and climate-resilient economy and; (2) strengthen the resilience of the financial system to climate-related financial risks. Mainly, the GCF Readiness seeks to build the country’s capacity for: (1) national sustainable finance taxonomy development and implementation and; (2) the identification, measurement and disclosure of climate-related financial risks, aligned with TCFD recommendations.
A Project Coordination Unit (PCU) will be established under the direct supervision of UNEP LACO & UNEP FI and be responsible for the management of the project’s day-to-day activities, including providing the necessary strategic guidance and technical support to the startup, implementation and closure of the project. The PCU’s objective will be to manage, coordinate, and follow up on the activities established under the approved proposal.
The PCU will consist of a Project Coordinator and a Project Coordinator Support Consultant.
UNEP LACO & UNEPFI are looking for a Project Coordinator Support Consultant for the GCF Readiness Project “Aligning financial flows of the financial sector in Panama with the Paris Agreement climate change goals”.
The Project Coordinator Support Consultant for this project will work under the supervision of the Programme Management Officer on Sustainable Finance for the LAC region, in close coordination with the Project Coordinator. She/he will be responsible for carrying out project administration, finance and monitoring related activities. The Project Coordinator Support Consultant will assist the Project Coordinator for overall project financial and operational management in order to achieve the results/activities/deliverables as defined in the approved project document and in the agreed workplans through timely and quality implementation, monitoring and reporting.
The Project Coordinator Support Consultant for the GCF Readiness Project in Panama will work 40 hours per week, , full time and he/she will be located in a workspace defined by the Ministry of Environment of Panama (NDA) in Panama City, Panama. The incumbent will directly report to the Programme Management Officer on Sustainable Finance for the LAC region, in close collaboration with the Project Coordinator.
ACADEMIC:
• Bachelor´s degree in engineering, economics, finance, business administration, political science, or other related studies is required.
PROFESSIONAL:
• At least two (2) years of professional experience in activities involving project management in UN-related projects, national or local government entities, international development organization/reputed multinational organization is required.
• At least one (1) year of experience in policy-oriented work in the areas of climate change, environment, and/or natural resources is required.
• Strong understanding of budgeting — candidates familiar with UNEP administrative, program, and financial procedures preferred
• Ability to lead strategic planning, results-based management and reporting: full project cycle mastery, and excellent work/project planning skills (design, planning, execution, monitoring, reporting, and closing) is an asset
• Ability to oversee timely project implementation and to provide the necessary trouble shooting to keep project implementation on schedule
• Ability to formulate and manage budgets, manage contributions, manage transactions, conduct financial analysis, and reporting: excellent project oversight functions, including audit, accurate and thorough risk assessment
• Proven knowledge/experience in the field of sustainable finance is required;
• Proven knowledge in sustainable finance frameworks (taxonomies, disculosures) is an asset;
• Previous experience working with government entities or the public financial sector in Panama is desirable.
• Experience in positions related to facilitating the participation of government-led stakeholders in setting up an externally funded program or projects in Panama is highly desirable.
• Experience in supporting the coordination of meetings and consultative conferences of medium to large scale, including experience in the definition of agendas, identification of participants and preparation of documents and presentations is highly desirable.
• Experience in engaging with a range of high-level and technical stakeholders and/or officials such as government agencies, policy decision-makers, scientists, and the ability to communicate findings to high-level and mid-senior level management.
• Experience in coordinating webinars or workshops is an asset.
SPECIAL KNOWLEDGE AND SKILLS:
• Proficiency in using Microsoft Package (Microsoft Teams, SharePoint, OneDrive, Word, Excel, PowerPoint) collaborative platforms (i.e., Teams, Google Drive) and virtual meeting platforms (i.e. Webex, Zoom, etc.) is required.
SKILLS:
• Initiative, sound judgment, and capacity to teamwork
• Ability to work under pressure, to prioritize and to show a spirit of initiative;
• Excellent time management, monitoring and evaluation skills;
• Openness to change and ability to receive/integrate feedback;
• Creating and promoting enabling environment for open communication;
• Demonstrates initiative and self-motivation to work independently, as well as, cooperative and collaborative spirit to work in a team;
• Excellent interpersonal and communication skills;
• Demonstrate corporate knowledge and sound judgment;
• Ability to manage conflict;
• Demonstrated informed and transparent decision making.
• Fluent in Spanish (required)
• Fluent in English (required)
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.