UNEP Finance Initiative (UNEP FI) TNFD Technical Support Consultant

Result of Service At the moment, financial institutions and companies have a low understanding of how their operations or investments impact or depend on nature, and therefore to what extent they are exposed to nature-related financial risks. To integrate nature-related risks in their decision-making, financial and corporates need decision-grade data. A Taskforce on Nature-related Financial Disclosures (TNFD) will deliver a framework for organisations to report and act on evolving nature-related risks, to support a shift in global financial flows away from nature-negative outcomes and toward nature-positive outcomes

Work Location Working remotely

Expected duration The duration of the contract will be six 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 300 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 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 FI is one of the four founding partners who has set up and now supports the Taskforce on Nature-related Financial Disclosures (TNFD). The Taskforce is Co-Chaired by Elizabeth Maruma Mrema, Executive Secretary of the United Nations Convention on Biological Diversity (CBD), and David Craig, CEO of Refinitiv and Group Leader of Data & Analytics Division at London Stock Exchange Group (LSEG). It will consist of approximately 30 members from industry, with an equal representation of financial and “real economy” corporates from developed and emerging markets, as well as service providers. The TNFD will work with existing standards bodies to develop a framework which draws from existing initiatives and standards that are relevant to its scope. The TNFD intends for its outputs to be integrated into existing frameworks and standards in the space, such as those published by GRI, SASB, CDSB and the forthcoming IFRS Sustainability Board.

UNEP FI executes the WWF-US-implemented GEF-funded project in support of the TFND. The GEF project objective is to support the establishment of a Taskforce on Nature-related Financial Disclosures (TNFD) to develop and disseminate a global framework for corporates and financial institutions to assess, manage and report on their dependencies and impacts on nature. The GEF funding, as the multilateral financing instrument of the Convention on Biological Diversity, complements other support to TNFD to provide a framework to report and act on nature-related risks, and also help support the enabling conditions for a shift in financial flows away from nature-negative and toward nature-positive impacts. The project will support the first four phases of the TNFD development through UNEP FI execution in accordance with the work plan described in the GEF project and reflecting the baseline work of the Informal Working Group (IWG) and the Informal Technical Expert Group (ITEG), then the full Taskforce once established later this year. As GEF agency, WWF will work with UNEP-FI under Project Steering Committee guidance to adjust the GEF project as needed during implementation to support achievement of the TNFD deliverables.

UNEP FI also manages funding from UNDP via the Multi-Partner Trust Fund (MPTF) office from the Government of Italy for the UNDP-UNEP joint programme - Building support for the creation of a Taskforce on Nature-Related Financial Disclosures.

UNEP FI has a track record of leading the Taskforce on Climate-related Financial Disclosures (TCFD) piloting programme: following the publication of the final recommendations by FSB’s TCFD in June 2017, UNEP FI began a series of ‘TCFD Pilot Projects’ for banks, investors, and insurers. Participants in these pilots explored physical and transition risks (and litigation risks for insurers) and also pioneered practical approaches for evaluating these risks using climate scenario analyses. Almost 100 financial institutions (banks, investors, and insurers) from all around the world have participated in these pilots. These institutions have been supported by nearly a dozen technical partners from climate modelers to climate risk experts. These experiences have allowed UNEP FI to take a leadership role in developing good practices regarding climate risk in the financial sector. The pilot programmes have created numerous tools, frameworks, and guides to empower both participating institutions and those throughout the financial industry to better manage and disclose their climate risks. UNEP FI aims to undertake a similar programme and centre of excellence for TNFD.

The Technical Officer will support the TNFD lead for UNEP FI and the GEF Project Manager to successfully deliver on all expectations including successful set-up of the TNFD piloting programme – building on the TCFD piloting experience - commencing in 2022.

The consultant will support the TNFD lead and GEF Project Manager to successfully deliver on all expectations for MPTF and GEF projects from a technical perspective. The Technical Officer will provide support to the GEF- and MPTF-funded elements, as well as overall support eventually under the leadership of a Technical Director within the TNFD Secretariat. He or she will be particularly focused on the set-up of the piloting phase. Per the TNFD Work Plan (TNFD-Nature-in-Scope_Final.pdf), the draft TNFD Framework will be tested with financial institutions and corporates, in close collaboration with relevant financial regulators. Balanced representation across geographies from banks, investors, insurers, public finance institutions and corporates will be sought from high impact and high dependency sectors. TNFD will engage with broader market participants: to ensure that the TNFD recommendations are decision useful, implementable by market participants so will be widely consulted and piloted throughout the programme, anticipating much broader engagement than the immediate. The financial sector testing will be coordinated by UNEP FI (coordinating with PRI for investors), while the testing by data developers will be coordinated by a business platform organisation such as the WBCSD and others to include SME inclusion, per the work plan.

The consultant will also support the finalization of the TNFD ‘proof of concept’ pilot with Global Canopy and other partners in September-October 2021, and use this for planning of the full piloting phase commencing in 2022. He or she will work closely with UNEP FI’s climate team to ensure coherence for example on deforestation, food and agriculture, renewable energy, and other themes, building on UNEP FI’s TCFD programme and other in-house experience across banking, insurance and investment in this space.

Outputs:

1. TNFD proof of concept and piloting/testing planning

• Gain full familiarity with UNEP FI’s TCFD piloting programme, TNFD proof of concept pilot; and other in-house knowledge related to TNFD piloting. Ensure a knowledge bank of resources and examples is accessible e.g. working with GC, CDSB and others to collate sample reports;
• Finalise UNEP FI inputs to proof of concept piloting. Identify lessons and other considerations for development of the full piloting approach and schedule including sequencing.
• Work with the TNFD lead, TCFD lead and the GEF Project Manager, and other internal and external partners in support of the Taskforce to plan for and initiate the successful set-up of the TNFD piloting programme – building on the TCFD piloting experience - commencing in 2022.
• Support communications and engagement opportunities around piloting as relevant. Undertake calls with interested FIs, coordinating with the TNFD Secretariat and updating contacts in the CRM system for TNFD.

2. MPTF deliverables review

• Review draft MPTF deliverables for technical accuracy and coherence with other elements of TNFD: o Nature-risk Industry Reports: 10 Industry Reports identifying and quantifying main risks and dependencies on nature across key industries value chains o Country Nature-Related Data Analysis: a series of 5 country reports analysing quality and availability of nature-related data for financial decision making. o Corporate market readiness study per the example of the financial market readiness study o Country Data Report and Benchmark: a report summarising and benchmarking Nature-Related Data Ecosystems across selected countries. The report will also provide high level recommendations on data governance and architecture for better adoption of the TNFD framework.
• Coordinate with UNEP-WCMC on external inputs and collaborations in the delivery of these items, including with Capital Coalition, WBCSD, standard setters and others as relevant, coherently across the TNFD work programme as overseen by the Taskforce itself and the Technical Director once she/he is onboarded.

3. TNFD transition and Secretariat support: - Assist in tracking and delivery of technical tasks in the transition phase and assisting the full Secretariat Technical set-up including planning and establishment of a Technical Research Hub or similar; - Assist in monitoring project risk related to technical matters: Project risk assessment will seek to identify areas of project risk along with mitigation actions to address them (with UNDP); - Assist in supervising WCMC contract and timely delivery of milestones, from a technical perspective ensuring well-coordinated with other technical aspects of TNFD; and - Assist in the delivery and monitoring of GEF project outputs, especially:

3. As required: other project delivery and reporting support: - Assist from a technical perspective in the day-to-day management, monitoring and evaluation of project activities and results as outlined in the GEF and MPTF relevant documents such as ProDoc, Grant Agreement, and Annual Work Plan and Budget to achieve the project objective and targets in the Results Framework; - Participate and support routine meetings; - Support the coordination of technical inputs for the GEF Project Steering Committee (PSC); - Led by the PM, in collaboration with all project sub-grantees and partners, support review and input to the draft Annual Work Plan and Budget (AWPB) for each project year, for approval by the PSC and no-objection from the WWF GEF Agency; - Contribute to identifying lessons learned and propose potential changes for adaptive management to ensure project results and indicator targets are reached; - Support technical inputs to the Kick-Off workshop and other project-level workshops/meetings; - Review and input as relevant to GEF and MPTF narrative reports for lead review and finalization, address comments as required.

The consultant/individual contractor will report to the Head UNEP Finance Initiative (UNEP FI). The consultant directly reports to the Ecosystems/Nature Lead.

Qualifications/special skills Skills: Ability to synthesise inter-disciplinary information and work across sectors and industries. International and inter-cultural work or educational experiences. Project management experience as well as metrics and non-metrics content knowledge related to TNFD. Exceptional writing and editing skills as well as academic / peer reviewed publications would be beneficial. Pro-active with independent working ability, combined with good problem-solving skills and personal resilience to work effectively in a complex setting.

Academic Qualifications: Advanced university degree (Master’s degree or equivalent) in natural sciences, social sciences, finance, administration, law, environmental engineering or a related discipline. A First degree with relevant experience could be taken in lieu of advanced degree.

Experience: A minimum of three years of progressively responsible work experience related to nature-related risks and related themes of TNFD, and/or climate-related risk and TCFD with direct relevance, and/or high impact, high dependency sectors such as food and agriculture.

Language: English is the working language of UNEP FI. Other United Nations languages particularly French would be 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.