Consultant on Cambodia Sustainable Finance Roadmap

Contract

This is a Consultancy contract. More about Consultancy contracts.

Result of Service

Under the supervision of the Economic Affairs Officer of ESCAP’s Financing for Development Section, Macroeconomic Policy and Financing for Development Division, the consultant will:

1. Review the ESCAP feasibility study on green financing options and undertake a desk review of the key financial regulations, policies, circulars and associated information on Cambodia’s banking system, sustainable finance initiatives in the country and associated climate-related risks which may impact the banking sector in the long-run. Documenting the current state of sustainable finance in Cambodia.
2. Undertake interviews, surveys and data gathering and analysis to identify structural barriers and policy gaps. This includes the identification of barriers to investment-ready projects. This also includes a stocktake of the portfolio of financial institutions, loans, collaterals, assets, and liabilities, etc and geographical mapping to support risk modelling.
3. Analysis of the climate risk to the financial sector in Cambodia including physical and transition risks and their transmission channels.
4. Draft the comprehensive Sustainable Finance Roadmap in close coordination with NBC. This includes the establishment of working groups which will act as a feedback mechanism in the drafting process as well as the implementing team of the roadmap once it is agreed.
5. In collaboration with NBC, draft action plans and relevant annexes to the roadmap that will allow the roadmap to be operationalized.
6. Annex which maps and assesses the climate finance investment deals that have taken place to date (this goes beyond financial institutions and also looks at MDB/DFIs). The document will also assess the current regulations for the private sector and investors to build climate finance projects.
7. Coordinate a stakeholder validation workshop to support the Sustainable Finance Roadmap finalization.

Outputs / Work Assignment

Outputs: 1. Draft research plan including data gathering methods and interview questions/list. Deliverables: 1. Draft document - Delivery Date: 9 February 2024

Outputs: 2. Revised Roadmap outline. Deliverables: 2. Draft document - Delivery Date: 9 February 2024

Outputs: 3. Draft Sustainable Finance Roadmap - Delivery Date: 15 March 2024 Deliverables: 3. Draft roadmap and annexes 4. Records of interviews (notes) 5. Data analysis and raw data (as required)

Outputs: 4. Validation workshop - Delivery Date: 29 March 2024 Deliverables: 6. PPT 7. Workshop outcomes report/recommendations for revision 8. Annex mapping and assessing investment deals

Outputs: 5. Final Sustainable Finance Roadmap Deliverables: 9. Final roadmap report including annexes - Delivery Date: 26 April 2024

Performance indicators for evaluation of outputs. • Punctuality of submissions • Demonstrated expert knowledge of the subject area • Quality of analysis and recommendations

Work Location

Remote

Expected duration

5 February 2024 -30 April 2024

Duties and Responsibilities

United Nations ESCAP’s project titled ‘Climate Invest’ works to increase the knowledge, capacity and policies of governments in selected Asia-Pacific countries to increase the flow of climate finance.

In 2022-2023, ESCAP partnered with the National Bank of Cambodia (NBC) to draft a feasibility study on green financing options and associated policies and mechanisms. Based on this research, NBC has requested ESCAP’s support in the development of NBC’s Sustainable Finance Roadmap. The Roadmap is designed to lay out the action plans of the National Bank of Cambodia to promote sustainable finance across the banking sector in Cambodia. This Roadmap focuses on the transition to a low-carbon economy within the banking sector.

A significant barrier to sustainable finance in Cambodia is a lack of identifiable investment-ready projects. Despite an increasing demand for green projects, particularly in LDCs like Cambodia, projects do not meet common investment risk management criteria and as a result, the necessary funds are not flowing to projects. Consequently, different green and sustainable business models are not yet proven or mainstreamed. As part of the Roadmap, a chapter will be dedicated to project pipeline development. The focus will be particularly within the banking sector, however will also include additional financing mechanisms such as equity.

The analysis will also assess financing gaps and barriers where incentives within current regulations can support the flow of capital towards climate finance initiatives.

The Sustainable Finance Consultant will be responsible for analysing and documenting the current state of sustainable finance in Cambodia, identifying and addressing barriers to investment-ready projects, assessing policy and financing gaps and developing a roadmap to advance Sustainable Finance within Cambodia’s banking sector, including action plans, recommendations and annexes.

The consultant must have strong expertise in sustainable finance and Cambodia’s banking sector and financial regulations. The consultant must also have strong experience in undertaking policy/regulatory analysis. The consultant must have at least 7 years of experience and a master’s degree in Finance, Environmental Studies, Economics and/or Business. The consultant should have experience supporting the development of similar roadmaps and plans with governments in the past.

Qualifications/special skills

Master’s degree in Finance, Environmental Studies, Economics and/or Business. The consultant must have at least 7 years of experience and strong expertise in sustainable finance. The consultant must have experience working with Cambodia's banking sector and/or in another emerging market on banking/finance policy. The consultant must also have strong experience in undertaking policy/regulatory analysis.

Languages

Fluency in English is required.

Additional Information

Not available.

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.