Project Technical Coordinator for the GCF Readiness Project “Aligning financial flows of the financial sector in Costa Rica with the Paris agreement climate change goals”

Result of Service Objective

The purpose of this consultancy is to perform the project technical coordination of the Green Climate Fund (GCF) Readiness project “Aligning financial flows of the financial sector in Costa Rica 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 Costa Rica will achive its objective through executing the following Outputs:

Output 2.1.1 The Country Programme, relevant to the Nationallt Determined Cotribution (NDC) and the National Decarbonization Plan (NDP) goals, has been developed and ready to be approved by the National Designated Authority (NDA); Output 2.4.1. Workplans and constitutive arrangements for the Financial Advisory Group (FAG) established to develop and implement (1) Costa Rica’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 relevant national financial actors; Output 2.4.3 Framework for the identification, assessment and disclosure of climate related financial risks and opportunities for banking and insurance sectors are developed, piloted and endorsed by relevant national financial actors; 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 Costa Rica’s NDA. 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 Costa Rica builds upon the existing engagement and commitment from the Costa Rica’s financial sector, ensuring the transfer the international best practices and lessons learned, and adjust them to the Costa Rican context by leveraging existing policies, structures, and capacities.

On the one hand, the General Superintendency of Financial Institutions (SUGEF), under the National Climate Change Metric System (SINAMECC) and the Data, Capture, Verification, and Loading System (SICVECA), implemented and piloted the “Guidance for reporting information on climate finance in financial institutions” in the banking sector with the aim of monitoring the climate financial flows. The Readiness grant proposal for Costa Rica will use this Guidance and the SUGEF and SICVECA exercise on monitoring climate finance flows in the banking sector as a baseline for the development and implementation of a national sustainable finance taxonomy.

Also, the Central Bank of Costa Rica has taken first steps to improve its understanding of the risks associated with climate change for the financial system. In 2020, the Central Bank of Costa Rica launched the 2020-2023 Strategic Plan, which includes two lines of action: (1) Integrate climate change risks into financial stability monitoring and prudential supervision and; (2) Strengthen analytical capacity and macroeconomic modeling to strengthen forecasting and monetary policy analysis, including the study of variables such as employment and climate change. In addition, the General Superintendence of Insurance (SUGESE) has also taken important steps in this sense, such as its communication to the insurance market specifying that the parametric insurance modality may legally operate in the country. This one of specific relevance to increase climate resilience for insurance and re-insurance companies. This Readiness proposal in Costa Rica, based on the final methodological framework and the piloting test to quantitatively analyze the level of exposure of the banking and insurance sector to climate-related financial risks, will also provide recommendations for the country’ regulatory and supervisory authorities and policy makers to improve the resilience of the financial system to climate-related financial risks.

In general, these are signs of the country’s commitment and the sector awareness to adapt to climate change, which provides an important basis for the implementation of the GCF Readiness in Costa Rica. The main beneficiaries of this GCF Readiness in Costa Rica are the private financial institutions in Costa Rica (banks, insurers, and investors), Central Bank of Costa Rica, and financial supervisors and regulators (SUGEF, SUGESE, Superintendency of Pensions (SUPEN), and Superintendency of Securities Market (SUGEVAL)).

The Project Technical Coordination will work in close coordination with the Project Coordination Support Consultant, who is also under the PCU, all individual technical consultants, hired under the TT, and other internal partners (technical teams of other areas of UNEP FI involved in the execution of the project). The Project Technical Coordinator will build a smooth relationship with members of the Financial Advisory Group (BCCR, SUGEF, SUGESE, SUPEN, SUGEVAL, and private financial sector associations) and of the workstreams, working groups, and technical roundtables created under this with whom must work in close coordination and articulation; hence, acting as a coordination focal point for the FAG’s workstreams and working groups, and technical roundtables. The Project Coordinator will act under the guidance of the UNEP Programme Management Officer on Sustainable Finance for the LAC region to refer major executive project decisions to the Project Steering Committee (PSC). In order to achieve the expected Outcomes, Outputs and Deliverables, the Project Technical Coordinator will perform the following tasks, but are not limited to:

A. Project Management - Financial, Administrative and Human Resources - Coordinate the development of terms of references (TORs) and works/products requirements/specifications and the identification, selection and recruitment/procurement of consultants or other service providers; - Work closely with the Administrative and Finance Officer to ensure that financial, procurement and human resource processes are managed in line with the terms of the GCF Readiness agreement, and that records of project documents and assets/equipment lists, including financial and procurement documents, are maintained in accordance with audit requirements; - Ensure the timely preparation of annual and semi-annual work plans, procurement plans and budgets for approval by the Programme Management Officer on Sustainable Finance for the LAC region and the NDA, with prior endorsement of the GCF Focal Point and the UNEP Task Manager; - Prepare bi-annual project Interim Progress Report (IPR) (progress against planned activities, update on risks issues, expenditures, etc.) and ensuring timely submission of the Interim Progress Reort (IPRs) to the relevant instances; - Ensure timely preparation and submission of budget revisions, financial reports, request for changes (if needed), and cash advance requests; - Identify and resolve logistical and organizational issues under the guidance of the UNEP Programme Management Officer on Sustainable Finance for the LAC region, the GCF Focal Point and the UNEP Task Manager; - Coordinate 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. - Ensure that UNEP rules and regulations concerning finance, procurement and human resources are adhered to - Undertake other tasks assigned by the UNEP Programme Management Officer on Sustainable Finance for the LAC region and/or the GCF Focal Point as part of the approved GCF Readiness.

B. Project Planning and Implementation - Manage the day-to-day implementation of the project, including coordinate the delivery of the outputs/activities/deliverables, based on the relevant project documents, with a view to achieving project results in a timely manner; - Ensure effective management of the project by maintaining delivery of proper technical, operational, financial, and administrative outputs, while tracking the project progress through monitoring, evaluation and reporting; - Coordinate and support the development of comprehensive/detailed project workplans and constitutive arrangements, including all project activities, key event schedules, and roles and responsibilities of the stakeholders and setting-out corresponding milestones (according to outputs 2.4.1; 2.4.2 and 2.4.3); - Build, motivate and lead a high-performing project team; coordinate the work and deliverables of the Project Coordinator Support Consultant hired under the PCU, individual technical consultants hired under the TT, other internal partners (technical areas of UNEP FI directly involved in the execution), as well as external service providers; lead and coach the project team in both substantial and operational issues. - Provide background information and technical inputs on all completed deliverables to be submitted and approved by the UNEP Programme Management Committee on Sustainable Finance for the LAC region and the Project Steering Committee (PSC), ensuring high quality, and satisfactory management and use of GCF/UNEP resources. - Ensure that project activities and results are delivered in accordance with the required quality standards and specified time and cost constraints; - Regularly monitor and report on project performance and delivery to the UNEP Programme Management Officer on Sustainable Finance for the LAC region, GCF Focal Point and the UNEP Task Manager, including progress, achievements, challenges encountered and proposed corrective actions; - Organize meetings with the PSC, the FAG, and other relevant stakeholders and prepare all meeting documentations, including progress reports and meeting minutes; - Coordinate logistics for organizational wide meetings and/or special events. - Draft necessary strategic documents concerning project design and implementation, such as policy and technical papers, results frameworks, work-plans etc; - Manage the transfer of project deliverables to national beneficiaries and other project stakeholders; - Ensure the development of cross-project linkages with other relevant projects and programmes for mutually reinforcing impact. - Promote identification and synthesis of best practices and lessons learned for organizational sharing and learning. - Participate in national, regional, and global conference - Ensure the project has the required communication package and preparation, upon request of the UNEP LACO & UNEP FI, of information materials for dissemination within UNEP LACO & UNEP FI globally and regionally, and to external stakeholders;

C. Building Strategic Partnerships - Facilitate collaborative and consultative processes with all key stakeholders to ensure the involvement of government and other stakeholders (including national and local authorities, non-government organizations, academia, and private sector actors) in the development of project deliverables and results; - Establish and maintain strong partnerships with members of the FAG and of the workstreams and working groups created under this to conglomerate the relevant financial stakeholders needed for the proposal’s implementation; act as an coordination focal point for the FAG and its workstreams, working groups and technical roundtables. - Prepare the work and facilitate the meetings and communications to and from the different bodies created under the Project; act as a secretary for the PSC; develop the agenda for the PSC meetings and prepares all technical background documentation in consultation with the other partners, following the general direction of the UNEP Programme Management Officer on Sustainable Finance for the LAC region; - Establishing effective linkages with other relevant projects and initiatives in the sector with a view to developing substantive partnerships and generating synergies - Identifying opportunities for deepening the cooperation and recommending adequate approaches to dealing with different stakeholders based on information on all relevant stakeholders gathered during project implementation. - Support the partnerships and advocacy activities agreed by the UNEP LACO & UNEP FI in the area/sector covered by the project.

D. Project Activities Execution It is expected that the Project Coordinator, with the support of the Project Coordinator Support and individual technical consultants, develop as well the following activities: - Identify and map key relevant (national) financial actors national/international stakeholders to support and participate in the development and implementation of Costa Rica´s sustainable finance taxonomy, and methodologies and tools for climate-related financial risks; - Deliver a workshop with key national and international financial actors with the objective of defining workplans and a constitutive agreements for the development and implementation of Costa Rica´s sustainable finance taxonomy, and methodologies and tools for identifying, assessing, and managing climate-related financial risks.

- Create the technical roundtables for discussing and developing the eligibility criteria and requirements per economic sectors/subsectors for Costa Rica’s sustainable finance taxonomy - Coordinate and support in the preparation of workshops per technical roundtable for discussing and developing the eligibility criteria and requirements for Costa Rica’s sustainable finance taxonomy - Coordinate and support the preparation 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

- Identify the (national) climate data sources to develop the methodologies and tools for identifying, assessing, and managing climate-related financial risks (climate-data gap analysis) - Assess how current banks and insurance companies in Costa Rica currently incorporate climate change in their governance, strategic framework, risk management and reporting processes via structured surveys and interviews. - Create 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 - Develop the concept idea and estimated budget for an online reporting system of the climate-related financial risk exposure (both physical and transition) under the framework of SINAMECC and SICVECA platforms and to be hosted and maintained by the SUGEF and SUGESE.

- Support in the design and implementation of an online training program within financial institutions regarding i. Costa Rica Taxonomy-Module ii. Costa Rica 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.

- Identify, prioritize and select financial instrument(s) that will be included in the concept note. - Coordinate the development of a pre-feasibility study for a concept note for mainstreaming climate mitigation and adaptation in the financial sector

- Prepare the first draft of a GCF concept note for mainstreaming climate mitigation and adaptation in the financial sector. - Engage the NDA, GCF, AE, and relevant stakeholders to validate and incorporate feedback - Identify potential Accredited Entties (AE) to take up the concept note for further development to full funding proposal. - Develop the final draft of a GCF concept note ready to be submitted by the NDA to the GCF

Work Location Ministry of Environment and Energy of Costa Rica, San Jose, Costa Rica

Expected duration 12 MONTHS

Duties and Responsibilities Purpose

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 the 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 work-streams 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 Fianncial Disclosure (TNFD).

In 2022, the Green Climate Fund (GCF) board approved the GCF Readiness Proposal “Aligning financial flows of the financial sector in Costa Rica with the Paris Agreement climate change goals”. The National Designed Authority (NDA) in Costa Rica, the Minister of Environment and Energy (MINAE), 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 seek to build the country 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 the activities established under the approved proposal.

The PCU will consist of a Project Technical Coordinator, and a Project Coordinator Support, both Consultants. UNEP LACO & UNEPFI are looking for the Project Technical Coordinator for the GCF Readiness Project “Aligning financial flows of the financial sector in Costa Rica with the Paris Agreement climate change goals”.

Under the direct supervision of the UNEP Programme Management Officer on Sustainable Finance for the LAC region, and in close coordination with the LAC Network Coordinator, Global Policy Expert and Climate Lead, the Project Technical Coordinator has the overall responsibility for achieving the project 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 Technical Coordinator for the GCF Readiness Project in Costa Rica will work 40 hours per week, from Monday to Friday, full time and he/she will be located in the Ministry of Environment and Energy of Costa Rica in San Jose, Costa Rica. The incumbent will directly report to the UNEP Programme Management Officer on Sustainable Finance for the LAC region.

Qualifications/special skills Qualifications Required

ACADEMIC: - Bachelor’s degree in economics, finance, business administration, political science, international trade policy, international relations, engineering, science, or other related studies is required.

PROFESSIONAL: - At least five (5) years of progressively responsible experience in international organisations, the financial services sector, private sector supporting the intersection between sustainable development and finance is required. - At least three (3) years of experience in project or progamme management in an international development setting. Proven strong interpersonal and relationship management skills is highly valuable; - Experience in client-facing role in financial services of sustainability-related consulting is desirable; - Proven knowledge/experience in the field of sustainable finance is required; - Understanding of drivers of sustainability in the financial sector in LAC/Costa Rica is highly valuable; - Knowledge/experience of the banking, insurance and/or investment industries in LAC/Costa Rica is desirable; - Previous experience working with government entities or the public financial sector in LAC/Costa Rica is desirable. - Practical experience in areas related to design, planning, execution and monitoring in project development is required - Proven track record in coordinating complex projects or programmes with a diverse range of partners is desirable. - Experience in positions related to facilitating and coordinating the participation of government-led stakeholders in setting up an externally funded program or projects in Costa Rica or elsewhere is highly desirable. - Practical experience with international donors and other public, non-state or private actors in developing countries, preferably in the LAC region, in the management of international technical cooperation projects is an asset. knowledge of GCF as an advantage;

LANGUAGE: - Fluency in Spanish and English is required.

SPECIAL KNOWLEDGE AND SKILLS: - Team oriented mind-set and strong interpersonal communication skills; - Ability to communicate findings to high-level and mid-senior-level management; - Excellent communication (spoken and written) skills, including the ability to organise and deliver written updates, events, management desirable conference calls and webinars; - Skills in facilitating consultations, workshops, and grass-roots engagements. - Ability to manage multiple stakeholders in a diplomatic, organised and timely manner; proven influencing skills; - Ability to cope with juggling multiple tasks across diverse project outputs in an organized and timely manner; - 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: - Professionalism: ability to perform a wide range of administrative functions, for example, human resources, budget/work program, database management, etc. Ability to apply knowledge of various United Nations administrative, financial and human resources rules and regulations in work situations. He/she shows pride in work and achievements; is thorough and efficient in fulfilling commitments, meeting deadlines and achieving results; shows persistence in the face of difficult problems or challenges; keeps calm in stressful situations; establishes and maintains productive partnerships with customers by gaining their trust and respect; identifies customer needs and combines them with appropriate solutions. - Communication: He/she speaks and writes clearly and effectively; listens to others, interprets others' messages correctly and responds appropriately; asks questions to clarify and shows interest in having two-way communication; adapts the language, tone, style and format to match the audience; demonstrates openness to share information and keep people informed. - Teamwork: He/she works in collaboration with colleagues to achieve the objectives of the organization; solicits contributions by genuinely valuing the ideas and experience of others; is willing to learn from others; shares credit for team achievements and accepts joint responsibility for team deficiencies. - Planning and organization: He/she develops clear objectives that are consistent with the agreed strategies; identifies priority activities and tasks; adjusts priorities as necessary; allocates the appropriate amount of time and resources to complete the work; foresees risks and allows contingencies when planning; supervises and adjusts plans and actions as necessary; uses time efficiently.

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.