(Senior) Industry Specialist - Real Estate Portfolio Decarbonization Specialist

Contract

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(Senior) Industry Specialist - Real Estate Portfolio Decarbonization Specialist

Description

IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2023, IFC committed a record US$43.7 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org.

The global building construction industry contributes approximately 38% of total energy-related CO2 emissions. To keep global warming below 1.5 degrees Celsius, the building industry will need to reduce emissions by 50% by 2030 and be carbon neutral by 2050. The WBG Board endorsed the FY21-25 WBG Climate Change Action Plan (CCAP). With this endorsement, IFC committed to align 85% of new operations with the goals of the Paris Agreement starting July 1, 2023, and 100% starting July 1, 2025, as well as screen all projects for physical climate risk by FY2023.

Meanwhile, IFC’s clients are increasingly developing sustainability strategies that include committing to formal climate related targets. This is due to a number of business and strategic drivers (e.g. climate related asset risk, utility costs, energy security, franchise value, increasing government regulations, requirements from investors and tenants).

The Global Tourism, Retail and Property (TRP) team at IFC is responsible for delivering investment and advisory programs related to retail, hospitality, commercial and housing real estate players globally. In this critical juncture, IFC TRP team developed the Greening Real Estate Institutional Portfolios (GRIP) program to support select large real estate asset owners to define and implement portfolio-level decarbonization and /or net zero strategies with clear interim targets. The objective is to move beyond “greening” individual buildings, deepen IFC’s relationships & value-add with clients on their decarbonization journey and to create a pipeline of investments that can be financed by IFC. IFC is currently in the pilot phase for its GRIP program, with 7 engagements with private sector clients across South America, Europe and Asia and plans to extensively grow its GRIP engagements. IFC is seeking a ‘Existing Building Decarbonization and Energy Efficiency Specialist’ to join the Global TRP team to be based in Washington, D.C. to support the global roll-out of the GRIP program by providing technical expertise, program development and client support.

Duties and Accountabilities:

Support the development and roll-out of the GRIP program Each GRIP engagement supports large real estate portfolio owners to develop, implement and finance their sustainability strategies. Specific engagements could include

• Data Collection: Provide guidance to the client to develop a baseline assessment of the portfolio emissions. This may include compare client’s current performance to industry benchmarks. • Setting Goals: Provide recommendations to the client to determine clear climate goals in line with international frameworks (e.g., Science Based Targets (SBTi)), client’s baseline status and sustainability strategies. Enabling Environment: Assessment of new regulations in relevant markets that would impact the business operations and valuations for Client and develop mitigation strategies. • Understanding Portfolio: Facilitate audits at client sites to identify areas of improvement, potential decarbonization measures and high-impact opportunity areas. • Develop Roadmap: Support the client in developing a Portfolio Energy Efficiency and Decarbonization Roadmap including the following aspects:

o Identifying high-impact opportunity areas i.e., technologies and strategies . per asset and consolidated at a group level. o Identifying high-priority properties for energy use reduction investments and, where required, detailed site assessments and retro-commissioning. o Providing Key Performance Indicators (KPIs) and intermediate milestones, o Cost-benefit analysis covering capital expenditure capex and return analysis o Investment plans covering financially viable building capital investment strategies o Suggestions on ongoing GHG reporting and monitoring. o ‘Green guidelines’ for all new developments and acquisitions for the group in alignment with the defined corporate climate goals. • Support business development and advise clients on the business case for decarbonization.

IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2023, IFC committed a record US$43.7 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org.

The global building construction industry contributes approximately 38% of total energy-related CO2 emissions. To keep global warming below 1.5 degrees Celsius, the building industry will need to reduce emissions by 50% by 2030 and be carbon neutral by 2050. The WBG Board endorsed the FY21-25 WBG Climate Change Action Plan (CCAP). With this endorsement, IFC committed to align 85% of new operations with the goals of the Paris Agreement starting July 1, 2023, and 100% starting July 1, 2025, as well as screen all projects for physical climate risk by FY2023.

Meanwhile, IFC’s clients are increasingly developing sustainability strategies that include committing to formal climate related targets. This is due to a number of business and strategic drivers (e.g. climate related asset risk, utility costs, energy security, franchise value, increasing government regulations, requirements from investors and tenants).

The Global Tourism, Retail and Property (TRP) team at IFC is responsible for delivering investment and advisory programs related to retail, hospitality, commercial and housing real estate players globally. In this critical juncture, IFC TRP team developed the Greening Real Estate Institutional Portfolios (GRIP) program to support select large real estate asset owners to define and implement portfolio-level decarbonization and /or net zero strategies with clear interim targets. The objective is to move beyond “greening” individual buildings, deepen IFC’s relationships & value-add with clients on their decarbonization journey and to create a pipeline of investments that can be financed by IFC. IFC is currently in the pilot phase for its GRIP program, with 7 engagements with private sector clients across South America, Europe and Asia and plans to extensively grow its GRIP engagements. IFC is seeking a ‘Existing Building Decarbonization and Energy Efficiency Specialist’ to join the Global TRP team to be based in Washington, D.C. to support the global roll-out of the GRIP program by providing technical expertise, program development and client support.

Duties and Accountabilities:

Support the development and roll-out of the GRIP program Each GRIP engagement supports large real estate portfolio owners to develop, implement and finance their sustainability strategies. Specific engagements could include

• Data Collection: Provide guidance to the client to develop a baseline assessment of the portfolio emissions. This may include compare client’s current performance to industry benchmarks. • Setting Goals: Provide recommendations to the client to determine clear climate goals in line with international frameworks (e.g., Science Based Targets (SBTi)), client’s baseline status and sustainability strategies. Enabling Environment: Assessment of new regulations in relevant markets that would impact the business operations and valuations for Client and develop mitigation strategies. • Understanding Portfolio: Facilitate audits at client sites to identify areas of improvement, potential decarbonization measures and high-impact opportunity areas. • Develop Roadmap: Support the client in developing a Portfolio Energy Efficiency and Decarbonization Roadmap including the following aspects:

o Identifying high-impact opportunity areas i.e., technologies and strategies . per asset and consolidated at a group level. o Identifying high-priority properties for energy use reduction investments and, where required, detailed site assessments and retro-commissioning. o Providing Key Performance Indicators (KPIs) and intermediate milestones, o Cost-benefit analysis covering capital expenditure capex and return analysis o Investment plans covering financially viable building capital investment strategies o Suggestions on ongoing GHG reporting and monitoring. o ‘Green guidelines’ for all new developments and acquisitions for the group in alignment with the defined corporate climate goals. • Support business development and advise clients on the business case for decarbonization.

Selection Criteria

• Master’s degree in a related field (e.g. building engineering, mechanical engineering, green buildings, building science etc.) • At least 8 years of experience in advising private sector clients in the real estate sector in emerging markets on low carbon transition for building operations and materials including scope 1, 2 and 3; Experience of working with large real estate portfolio clients in emerging markets on their ESG strategies, specifically on climate strategies a strong plus. • A good understanding of green building, resilience and adaptation certifications and systems is required. • Understanding of green finance tools such as green loans, sustainability linked loans and etc. is a plus. • Direct, “hands-on” experience in climate change decarbonization technologies, green buildings, net zero transitions, decarbonization strategies and international standards/frameworks in the real estate sectors. • Strong business sense with ability to judge what motivates private sector strategic and investment priorities and implementation decisions and where to focus IFC resources to deliver results and impact in climate. • Understanding of green finance tools such as green loans, sustainability linked loans and etc. is a plus. • Ability to work effectively in teams and build bridges across organizational boundaries. • Knowledge of IFC mission, products and services is a plus. • Travel internationally as needed.

World Bank Group Core Competencies

The World Bank Group offers comprehensive benefits, including a retirement plan; medical, life and disability insurance; and paid leave, including parental leave, as well as reasonable accommodations for individuals with disabilities.

We are proud to be an equal opportunity and inclusive employer with a dedicated and committed workforce, and do not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.

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