UNEP Finance Initiative (UNEP FI) - Economic Analysis- Latin America

Result of Service This position aims to engage a broad range of financial institutions, including commercial banks, pensions funds and different financial institutions to move their portfolios towards the implementation of the Net Zero Banking Alliance, as well as the Net Zero Asset Owner. The frameworks UNEP FI is supporting implementation include Principles for Responsible Banking (PRB) now committed to by more than 270 banks representing over 45% of banking assets, and the Principles for Sustainable Insurance (PSI), established 2012 by UNEP FI and today applied by one-quarter of the world’s insurers (25% of world premium). The selected candidate will contribute with the sustainable finance hub with members in Latin America & the Caribbean. The outcomes of services will be to deliver mathematical quantitative arguments to financial companies to create conscience of the urgent needed to adhere the respective initiative hosted by UNEP FI at the Latin American and Caribbean regional network. The consultant will also participate in conference and seminars, being able to present confident the result of the research for the LAC area. The services will also help promote sustainability into all aspects of the financial sector’s products and services. Moreover, the services will help the Initiative to close the literature gap and create useful awareness of the potential implications of the increase of non-performing loans due the impacts of climate change to banks, insurers, governments, regulators, private sector and multi-stakeholders, including supporting institutions. At the same time, the Consultant will contribute to support the regional awareness raising and engagement on regional priorities of global work program (webinars, workshops, peer to peer exchange), as well as backing UNEP FI membership including building the capacity of financial institutions to set and deliver on ambitious targeted outcomes for mobilizing private investment in the SDGs. The consultant shall be under the overall supervision of the Head UNEP FI and report directly to the Programme Management Officer, UNEP FI. The consultant will work closely with colleagues in LAC, the regional coordination team, industry and thematic teams and communications and events colleagues.

Work Location Working remotely

Expected duration The duration of the contract is 6 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.

In the context of understanding, analyzing, and finding solutions for countries to achieve a sustainable, resilient, and inclusive recovery, the UNEP’s Economy Division is looking for an Economic Consultant to work alongside financial institutions formulating proposals and project initiatives aims to narrow the gap of knowledge framed on the Net Zero Banking Alliance and Net Zero Asset Owner initiatives for LAC countries. The consultant will create quantitative argument to encourage financial institutions portfolios to move towards carbon neutrality according with the Paris Agreement Commitments.

The consultant will support UNEP FI, as well as serve as a widespread liaison between different actors the Nature division, with the possibility of making jointly research. The selected consultant will carry out the following project tasks as shown below in 3.2 below.

Outputs and Deliverables:

• Mapping of actors in the Latin American banking sector
• Collection and cleaning of relevant public data to support the analysis to be conducted
• Presentation to UNEP FI team on the mapping and data
• Initial outline of the report
• Design of macroeconomic model to be used in the analysis
• Presentation to UNEP FI team on the economic model to be used in the analysis
• Preliminary results from the macroeconomic model for one product type
• Presentation to UNEP FI team on initial results and incorporation of their feedback
• Final results of the econometric model produced
• Draft of key findings completed
• Full draft of paper shared with UNEP FI
• Presentation on key messages shared with Latin American FIs

Specific tasks and responsibilities: The consultant will:

• Map the relevant actors in the Latin American banking system
• Set up interviews with Latin American financial institutions to understand their current portfolios
• Identify the primary countries for further investigation within the report (with a selection of 10 countries as the target)
• Collect and clean the relevant public data to support the analysis to be conducted
• Create presentations to communicate work to UNEP FI on an ongoing basis both for progress updates and for initial results
• Produce an economic model that will enable the assessment of a carbon premium in the holdings of Latin American financial institutions
• Identify the key outcomes from the assessment and determine how best to communicate the main messages to financial institutions
• Hold sessions to communicate outcomes and their implications to financial institutions
• Draft report related to the findings of the analysis

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

Qualifications/special skills Skills: An understanding of the Net Zero Banking Alliance commitments as well as other relevant climate related initiatives. Skilled in convening public and private sector stakeholders to create consensus or mobilize action. Ability to translate new and diverse ideas and concepts into tangible outcomes and identify and prioritize common interests from various points of view. Capacity to work independently with minimal supervision and must have significant latitude to be self-directed and highly motivated.

Academic Qualifications: University degree in a quantitative field such as economics, public policy, public finance, public administration, fiscal policy or a related field is mandatory.

Experience: At least five (5) years of proven as an economist, with a large understanding of the financial market. Experience in the analysis and formulation of economic strategies and policies, and considerable knowledge of net-zero emissions and green recovery frameworks, especially focus on the Net Zero Banking Alliance Initiative. Strategic vision, strong technical and analytical capabilities on research projects as well as strong interpersonal skills. Excellent knowledge of the public finance of the region and developed ability to identify and engage relevant stakeholders, both public and private. - Experience on supporting fiscal policy formulation. Demonstrates strong quantitative skills and the ability to carry out high quality net-zero and climate resilient economy research, including statistical analysis. - Possesses proven ability to analyse a climate change and green recovery topics from a national/regional/global perspective, with the ability to offer practical policy advice on issues based on local realities.

Language: Fluency in Spanish and English, both written and spoken, is required.

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.