UNEP Finance Initiative (UNEP FI) - Consultant to support Real Estate Transition Risk report

Result of Service This position aims to engage with financial institutions on their accomplished real estate retrofit projects its achieved savings. The result of this service will be a report on embodied carbon and operational savings related to retrofit projects, as well as a framework for low carbon retrofit strategies. Following the publication of the result, the consultant will also lead a series of dissemination webinars on key lessons learned from the research.

Work Location Working remotely

Expected duration The duration of contract is 7 months.

Duties and Responsibilities 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 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 400 banks, insurers and investors. For over 28 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 promotes sustainable finance and helps the financial industry align with and contribute to the Paris Agreement and Sustainable Development Goals.

As part of its 2022 work programme on climate change and building on the outcomes of its three TCFD pilots in banking, UNEP FI is conducting its TCFD and Climate Risk Programme and is engaging with about 48 commercial and development banks as well as institutional investors.

Building from the methodologies, and corresponding insights and recommendations, UNEP FI’s work on TCFD adoption has the following objectives:

• Objective area 1: Briefing and training - in depth - UNEP FI member banks that are new to UNEP FI’s TCFD work on the various methodologies developed – and the insights won - in Phases 1 and 2

• Objective area 2: Further developing and enhancing – in partnership with relevant expert stakeholders - a number of the various elements within the ‘toolkit’ that banks currently have at their disposal to carry out forward-looking risk and opportunity assessments, potentially including: i) climate-related scenarios, ii) client data, iii) modelling approaches, iv) legal guidance, etc.

• Objective area 3: Strengthening and institutionalizing links and dialogue - and synchronizing agendas - with relevant platforms, processes, and efforts, particularly those involving financial regulatory organisations (e.g. the Network for Greening the Financial System – NGFS, the EU Action Plan), client industry associations, the proceedings of the TCFD itself, and investor efforts (through the Principles for Responsible Investment, or UNEP FI’s own investor piloting of the TCFD)

• Objective area 4: Publication of guidance for financial sector actors

Through the work in the first three areas, UNEP FI and its participating financial institutions have worked to develop guidance on good practices around climate scenario analysis, climate risk management, and climate risk disclosure. This guidance is formalized through the final reports that the programme produces and shares with those in the financial sector.

UNEP FI requires a consultant to work alongside financial institutions to research embodied carbon of retrofits and their operational savings, and to examine the impact and value of retrofits on a financial institution’s net-zero commitments.

The consultant will support UNEP FI on its work related to the real estate sector, by undertaking research in close cooperation with programme members. The selected consultant will carry out the following project tasks as shown below in 3.2 below.

Outputs and Deliverables:

• Report on embodied carbon and operational savings related to retrofit projects
• Framework for low carbon retrofit strategies/materials
• Slides on results to be used in webinars
• Communications campaigns calendar and planning maintained
• Publications process monitored and organized
• Clear and effective communications materials produced.

Specific tasks and responsibilities: The consultant will provide assistance in the following project/tasks for UNEP FI’s communications work:

• Define report structure on the trade-off between embodied carbon and operational savings of energetic retrofit projects
• Define companies that would serve as data partners
• Define data request for participating financial institutions
• Align data delivery with data partners
• Analyse data provided by partnered financial institutions
• Derive conclusions and a framework on low carbons strategies for retrofit projects
• Draft report on embodied carbon and operational savings of energetic retrofit projects
• Organize and prepare dissemination and communication work related to final report

The consultant will report to the Climate Programme Officer, and will work in close coordination with the Climate Risk and TCFD Lead, and UNEP FI’s Economy Division team. Overall responsibility rests with the Head of UNEP FI.

Qualifications/special skills Skills: The consultant(s) should have a proven track record in climate-related real estate assessments. Prior engagement with members of the financial sector is an asset. Specific knowledge is required in conducting research on sustainability in the real estate sector and in carrying out findings for real estate companies, portfolios and individuals at the property level.

Academic Qualifications: University degree in economics, finance, environmental studies, international relations, business administration or related fields.

Experience: At least seven (7) years of proven experience in the environmental sector, the financial services sector, commercial consulting, or conducted applied academic research on real estate assessment in relation to climate change.

Language: English is the working language of UNEP FI. Knowledge of other United Nations languages is an asset.

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.