International Consultant on Green Bonds
Application deadline 11 months ago: Friday 15 Oct 2021 at 23:59 UTCOpen application form
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Since 1993 UNDP has been assisting the government of Ukraine in developing solutions for the transition from a planned to a market economy and for establishing democratic systems. UNDP’s engagement and partnership with national and sub-national institutions has been a catalyst for laws and policies as well as strengthening institutions in preparing the country for deeper global integration.
Green finance has become a key area of UNDP support to the Government of Ukraine. UNDP supports mobilization of public and private green finance through implementation of innovative financial instruments (e.g. green bonds, sustainability bonds, etc.). In addition, UNDP provides assistance to different international and regional initiatives aimed at developing green bonds market in developed and developing countries (e.g. Climate Bonds Initiative, CBI).
According to the Action Plan for the implementation of the Energy Sector Reform (2018) of the Energy Strategy of Ukraine up to 2035, the State Agency on Energy Efficiency and Energy Savings of Ukraine (SAEE) submitted to the Government of Ukraine a Concept for the introduction of the green bonds market and an Action Plan for its implementation. In this regard SAEE has approached relevant donor-funded programmes/projects for assistance.
In January 2019 the Committee on Fuel and Energy (sub-committee on Sustainable Development, Strategy and Investments) of the Parliament of Ukraine, to which the UNDP project Sustainable Energy and Environment Secretariat to Support the Parliament of Ukraine in Sustainable Energy and Environment Area (‘Green Caucus’ Secretariat) is providing assistance, also requested to develop a Green Bonds concept applicable for Ukraine.
Adoption of road maps for the introduction of the green bonds market is a common practice worldwide. Governments and central banks use them as a benchmark when developing the strategies and approaches to building a green bond market and attracting green finance.
In addition, Ukraine needs to introduce guidelines, as well as procedures for issuance of sovereign and municipal green bonds.
UNDP will hire an International Consultant in Green Bond Standards whose main assignments will include the following: (i) provide guidance for development of the concept and the action plan for the introducing of the green bonds system in Ukraine; (ii) conduct an assessment of compliance of the concept and the action plan for the introducing of the green bonds system in Ukraine with international practices; and (iii) estimate the volumes of the green bonds market in Ukraine. It is planned that UNDP will assist SAEE in development of the mentioned Concept and Action Plan through the engagement of local financial and legal consultants.
Consequently, the UNDP seeks the services of a qualified national consultant to provide required expertise towards meeting the above-mentioned objectives.
The Energy and Environment portfolio at UNDP Ukraine now seeks strategic leadership to help better define the direction of the portfolio and to strengthen the ability of the projects to meet their overall objectives and outcomes. For this reason, UNDP Ukraine now seeks to hire a senior, seasoned and experienced international consultant to work as an international Chief Technical Advisor to lead and guide the portfolio, reporting to the management of the UNDP Ukraine office, managing the projects currently under implementation by guiding and leading the project managers of these projects, and through the support for the development of new initiatives. It is required that the international CTA should have prior experience in managing or advising international technical assistance projects related to sustainable energy.
Duties and Responsibilities
2. Objectives of the assignment
The main objective of the assignment is to support establishment of the green bonds market in Ukraine through elaboration of the recommendations on the Green Bonds Standard, revision of the Concept and the Action Plan for establishing the green bonds market in Ukraine, estimation of the volumes of the green bond market in Ukraine. The international consultant will work closely with the Energy and Environment Team Leader, Project Manager of the Supporting Green Recovery in Ukraine project.
3. Scope of services
The key role of the international consultant will include support for developing an enhanced strategic vision, strengthened project oversight:
- Analysis of green bond standards/guidance developed in EU and other countries, identification of the best practices suitable for Ukraine including
- Description of main relevant standards by sector and timeline for expansion to new sectors
- Analysis of TCFD TNFD and other relevant disclosure frameworks
- Development of recommendations for the necessary legal and regulatory changes to introduce Green Bonds Standard in Ukraine.
- Development of proposals on regulatory and legal guidelines and procedures for green bonds market, including for the sovereign and municipal green bonds (on the procedure for evaluating and selecting green projects, mechanisms for financing and re-financing green projects, procedures for monitoring the use and management of funds, control procedures and reporting standards).
- Development of proposals for the regulatory incentives for the green bond market.
- Legal and regulatory review of the Green Bond Market Concept, prepared by the Working Group on Green Finance
- Legal and regulatory review of the Action Plan for the creation of the green bonds market (prepared by the Working Group on Green Finance)
- Estimations of the potential volumes of the green bonds market in Ukraine
4. Measurable outputs of the work assignment/deliverables
[list them as referred to in the TOR]
Percentage of Total Price (Weight for payment)
Deliverable 1: Written analysis of green bond standards/guidance developed in EU and other countries, identification of the best practices suitable for Ukraine
30 October 2021
Deliverable 2: Development of the set of recommendations for the necessary legal and regulatory changes to introduce Green Bonds Standard in Ukraine in a form of written report.
15 November 2021
Deliverable 3: Legal and regulatory review of the Green Bond Market Concept, prepared by the Working Group on Green Finance in a form of analysis papers.
30 November 2021
Deliverable 4: Legal and regulatory review of the Action Plan for the creation of the green bonds market (prepared by the Working Group on Green Finance)
15 December 2021
Deliverable 5: Estimations of the potential volumes of the green bonds market in Ukraine. Two presentations on study findings to the stakeholders in Ukraine.
15 January 2022
5. Management arrangements
The senior international consultant will report to the Energy and Environment Team Leader and Deputy Resident Representative of the UNDP Ukraine Office, who will be provided with written monthly reports on the progress of activities and the key challenges and opportunities.
The international consultant will be responsible for the supervision and provision of guidance to the project managers of all (current and future) UNDP Ukraine projects under the energy and environment portfolio in Ukraine. The international consultant will work closely with the Energy and Environment Team Leader.
6. Monitoring requirements / Terms of payment
The international consultant will be responsible for strategic guidance towards institutional and legislative changes needed in Ukraine to introduce Green Bond Standard, as well as relative analytical work to support the change. The international consultant will work closely with the Energy and Environment Team Leader, Supporting Green Recovery Project Manager and selected local consultants.
UNDP will be the final authority to control the quality and evaluate the work. The satisfactory completion of each of the deliverables shall be subject to the endorsement of the Team Leader. Each deliverable will be delivered in a draft for comments and feedback before finalization. No reports or documents should be published or distributed to third parties without the approval of UNDP.
All reports and results are to be submitted to the UNDP in electronic form (*.docx, *.xlsx, *.pptx, and *.pdf or other formats accepted by UNDP). The language of the materials and reports is English.
UNDP will provide payment upon provision of each deliverable duly certified by UNDP in accordance with the schedule below:
Deliverable 1. 20%
Deliverable 2. 20%
Deliverable 3. 20%
Deliverable 4. 20%
Deliverable 5. 20%
- strategic vision, strong technical and analytical capabilities;
- strong reporting and writing abilities;
- ability to work in a team, develop synergies and establish effective working relations with government counterparts, donors, NGOs and other development partners;
- strong interpersonal and communication skills, resourcefulness, initiative, maturity of judgment, tact, and negotiating skills, and the ability to cope with situations which may pose conflict;
- integrity, modelled by the UN's values and ethical standards;
- sensitivity and adaptability to culture, gender, religion, nationality and age;
- openness to change and ability to receive/integrate feedback;
- ability to accommodate additional demands on short notice;
- ability to work under pressure and stressful situations;
- ability to manage heavy workload and solve complex problems with minimum supervision.
Required Skills and Experience
8. Required experience and qualifications
- At least advanced university degree (PhD degree will be an asset) relevant to the thematic area (e.g. Environment, Energy, Finance, Science, Physics, Climate Change, Business, Economics, Law, Engineering, or other relevant degree).
- At least 10 years of proven working experience relevant to access to finance, application of financial instruments, legislation development, climate change mitigation;
- Extensive technical knowledge relevant to green finance and green bonds;
- Experience in EU Green Deal and related legislative and other initiatives in European countries;
- Proven experience of analytical work related to finance and EU legislation (at least two examples provided);
- Proven development experience in Ukraine is an asset;
- Experience with training and facilitation related to sustainable development and finance is an asset.
- fluency in spoken and written English is a must.
9. Documents to be included when submitting the proposal
Personal CV, including information about experience in similar projects / assignments as well as the email and telephone contacts of at least three (3) professional references;
Financial proposal in line with information presented in Section 4. Measurable outputs of the work assignment/deliverables;
Duly accomplished Letter of Confirmation of Interest and Availability (template may be found at https://cutt.ly/Bzs6D4A);
Description of and links to the similar projects produced and which are relevant to finance and EU legislation.
10. Financial Proposal
Lump sum contract
The financial proposal shall specify a total lump sum amount, and payment terms around specific and measurable (qualitative and quantitative) deliverables (please, refer to Section 4 Measurable outputs of the work assignment/deliverables). Payments are based upon output, i.e. upon delivery of the services specified in the TOR. In order to assist the requesting unit in the comparison of financial proposals, the financial proposal will include a breakdown of Cost by Components.
11. Evaluation Criteria
- At least advanced university degree (PhD degree will be an asset) relevant to the thematic area (e.g. Environment, Energy, Finance, Science, Physics, Climate Change, Business, Economics, Law, Engineering, or other relevant degree) – Pass/Fail.
- At least 10 years of proven working experience relevant to access to finance, application of financial instruments, legislation development, climate change mitigation – Pass/Fail.
- Experience relevant to green finance and green bonds – Pass/Fail.
- Experience in EU Green Deal and related legislative and other initiatives in European countries – Pass/Fail.
- Two examples provided regarding analytical work related to finance and EU legislation – Pass/Fail.
- Fluency in spoken and written English – Pass/Fail.
- Experience with training and facilitation related to sustainable development and finance is an asset in case of equal financial proposals.
- Proven development experience in Ukraine is an asset in case of equal financial proposals.
Lowest price and technically compliant offer
Contract award shall be made to the incumbent whose offer has been evaluated and determined as both:
a) responsive/compliant/acceptable (fully meeting the TOR provided), and
b) offering the lowest price/cost