Development Financing Bond Advisor

PROJECT DESCRIPTION

The Sustainable Development Goals (SDGs) are the most ambitious collective development endeavor attempted, requiring the world to equally ensure social governance, economic inclusion, and environmental protection by 2030. Financing the 2030 Agenda in developing countries is demanding up to $2.5 trillion annually. Since the adoption of the SDGs, there are major efforts on innovative development financing, including green finance, social bond, impact investment integrating the environmental, social and governance (ESG) criteria etc.

UNDP is embarking on a project to address this development challenge of lack of financing and incentive for financing for SDGs focused particularly on inequality, poverty and last mile issues. China has made great efforts focused on green financing to address environmental protection and climate change, however, the vast potential on broader SDG financing is untapped and uncoordinated in China. This stems from conceptual unclarity on SDG financing; absence of collectively accepted standards for measuring the development impact on SDGs; and the proliferation of instruments that are using the social impact branding without proper verification.

UNDP’s initiative is to embark on a process to establish a Ratings Standards for SDG bonds and other SDG related financing instruments in China. The long-term objective is for the Rating Standards developed by this process to become the industry standard in China and to be used by the issuer of Bonds to evaluate/assess a Bond before issuance, rate the Bond based on the assessment, monitor compliance during issuance, and assess impact of the Bond contributing to SDGs annually and report on impacts.

Achieving this objective entails the technical task of developing the Standards and methodology for verification as well as the consensus building task of bringing together key stakeholders including development actors, financial regulatory and industry actors. Therefore, the project would adopt a platform approach, which leads itself to build an alliance that would bring together the necessary stakeholders to work simultaneously on consensus building and technical aspects, feeding off each other.


OBJECTIVE

The key focus of the consultancy is to initiate and technically lead the development of an SDG’s standards framework, focused on a rating/evaluation framework for an SDG bond and impact measurement of the bond in the first phase. Selected consultant is to substantively advise and provide technical leadership to implementation of different outputs of the project and their quality assurance. The consultant is to ensure advocacy coherence, identify entry points for the greatest synergies and strengthen the overall approach to collaborate essential stakeholders for formulation and implementation of SDG BOND RATING/EVALUATION under the direction of UNDP country office and UNSIF regional office.

Devoirs et responsabilités

SCOPE OF WORK AND DELIVERABLES

I. Overall Work Responsibilities

a) Establish a platform of key stakeholders, partners to guide the development of Standards to measure development impact of innovative SDG financing mechanism including SDG/Sustainability Bonds.  
b) Operationalize the platform for SDG Bond Standard, including setting up the governance structure through an appropriate mechanism such as a Steering (advisory) Committee and the Secretariat.
c) Map and advise on key policy and regulatory opportunities/challenges in the financing sector in China. This would include diagnostics, scanning and assessments of the financing landscape in China and the entry points to link to SDG financing.
d) Provide analytics and establish networks to explore the appetite from investors on SDG financing both in local and domestics markets.
e) Provide technical expertise on financing instruments and financial sector including (but not limited to) Bond issuance, ratings, verification, market capitalization etc. Provide technical advice to establish and operationalize the SDG Bond Standard in China. Function as the chief technical expert to the technical group (policy and implementation), which will develop standards, rating/evaluation framework of SDG bond and impact measurement approaches.
f) Advocate with the rating agencies and other relevant stakeholders to endorse and adapt the Standards developed.
g) Help identify opportunities to pilot and issue bonds particularly in the three target cities (Shenzhen, Guilin and Taiyuan). Support UNDP’s interaction with the issuers and the local governments to determine the detailed objectives and uses of funds, and the overall plan and process of bond issuance.
g) Foster knowledge generation across SDG financing initiatives and Platforms. Lead in preparing primers on the proposed SDG Bonds Standard in China for the benefit of non-expert staff in the government and in UN system, and other stakeholders or partners. Support the group on expanding understanding and potential linkages with broader stakeholders towards the successful implementation of SDG Bond Standard.

II. Deliverables

Deliverable 1: A standard-setting platform is established with participation of key stakeholders. This would entail establishing the advisory committee and technical committee, consisting of key stakeholders – UN agencies, providing expertise on various SDGs; Financial authorities and regulators (People’s Bank of China, as well as influential governors, scholars as senior advisors); Other governmental departments involving in national economic and social development; Financial intermediaries, and consulting service firms; Academia etc.
 
Deliverable 2: Landscape analysis and research on existing impact measurements, especially with sustainability principles, standards and financing instruments. This will entail mapping of ongoing work on establishing standards in China and in the world; identify relevance to the SDG Bond standards in China.
 
Deliverable 3: A framework on standards setting of SDGs Bond Rating, verification methodology and reporting. This would entail methodology for sustainability bond standards and rating, for screening and selecting SDGs investment categories focused on poverty, inequality and last mile issues. Identify a pilot opportunity for issuance of Bonds. Partner with issuers and local government to pilot the standards; Develop standards of use of proceeds, management of proceeds, project selection and evaluation, information disclosure and reporting, formulate methodology of impact evaluation and reporting.
 
Deliverable 4: Document the methodology, lessons learnt, opportunities and challenges as a result of the initiative. This would entail documenting the initiative to share with other countries, interested parties for further piloting and scaling up.

Compétences

CORE REQUIREMENT

Ability to make new and useful ideas work:  Exercises stakeholder-centered design approaches for the office and the project.
Ability to improve performance and satisfaction: Guides substantive specialists/teams and expands credibility and innovation capacity
Ability to listen, adapt, persuade and transform: Creates confidence among stakeholders by delivering authoritative positions, compelling analysis, and contextual acumen
Ability to get things done while exercising good judgment: Accepts accountability for the outcomes of programme delivery and facilitates improvement and innovation in the delivery of products and services

Technical/Functional


Sustainable Development: Knowledge of sustainable development concepts, principles and issues and the ability to apply to strategic and/or practical situations, covering the economic, social and environmental dimensions 
Impact Measurement: Knowledge/expertise in development impact measurement and   verifications.

Innovative Finance: Knowledge of financing for sustainable development and ability to apply to strategic and/or practical situations. Expertise in financing instruments.     
Coordination: Ability to manage complex relationships through pathways of knowledge exchange, capacity development, funding relationships and strategic engagement   
Representation: Ability to productively share UNDP knowledge and activities (at UN and other venues)   
Advocacy: Ability to advocate a point of view and influence others   
Partnerships: Ability to engage with others and forge productive working relationships

Qualifications et expériences requises

EDUCATION AND EXPERIENCE

With a Master’s degree in Banking, Economics, Finance, or another relevant field. Preferably 10 years of previous professional experience in leading green or sustainable financial project.

Direct experience related to implementation of green bonds and/or policy work with governments, business and financial sector is highly desirable.

Strong credibility and understanding of financing, investor relations, banking sector, credit guarantees or other credit support, proven knowledge in marketing and productizing green financial instruments and/or services with demonstrated launch of new green financing products a plus.

Deep knowledge of the local development frameworks, processes and dynamics as well as key development stakeholders in China across the investors, financial intermediaries, as well as governments.

Solid professional experience in technology, policy mapping and prioritization in the green or/and sustainable economy.

Strong analytical skills in fostering linkages across diverse thematic sectors.
Demonstrates integrity by modeling the UN’s values and ethical standards;
Promotes the vision, mission, and strategic goals of UN;
Strong interpersonal skills and empathy – treats all people fairly without favoritism.
 
LANGUAGE REQUIREMENTS

Native Chinese speaker

Proficiency in English Language (written and verbal)
 
Evaluation Criteria

The award of the contract will be made to the Individual Consultant who has obtained the highest Combined Score and has accepted UNDP’s General Terms and Conditions.Only those applications which are responsive and compliant will be evaluated. The offers will be evaluated using the “Combined Scoring method” where:

Technical evaluation – 70%;(includes 25% of Job Related Technical Expertise; 20% of Relevant working experience; 25% of Methodology & Approach to Assignment)
Financial Evaluation – 30%.
 
Documents to be included when submitting application

Please provide Offeror’s Letter and proposal (download the format in the link provided: https://pan.baidu.com/s/1D0MTw-sETooaAbAM7UvyKw ) together with your CV while submitting application.  For people who apply from UNDP Jobs, please note that the system will not accept the uploading of more than one document so please merge or scan all your documents into one prior to uploading.

UNDP applies a fair and transparent selection process that will take into account the competencies/skills of the applicants as well as their financial proposals. Qualified women and members of social minorities are encouraged to apply.

Only applicants submitted through the link could be considered:https://jobs.undp.org/cj_view_job.cfm?cur_lang=fr&cur_job_id=79241

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