SUSTAINABLE FINANCE OFFICER

INTRODUCTION TO GGGI

The Global Green Growth Institute (GGGI) is a treaty-based international, inter-governmental organization dedicated to supporting and promoting strong, inclusive and sustainable economic growth in developing countries and emerging economies. To learn more please visit about GGGI web page.

GGGI has a diverse portfolio of programs in developing countries around the world. These in-country programs, together with global products and services, focus on delivering results through an integrated approach of evidence-based green growth planning and implementation aligned to countries’ development priorities.

GGGI in collaboration with the Ministry of Economy and Finance of the Government of Peru is rolling out a 36-month technical assistance program to the Government of Peru titled “Mobilizing International Climate Finance and Private Investments for Low-Carbon and Climate Resilient Development in Peru”. The program, funded by the Green Climate Fund (GCF) Readiness and Preparatory Support Program, aims to play a pivotal role in the implementation of the country’s Climate Finance Strategy (CFS) and Green Finance Roadmap (GFR) which outline strategic measures and actions to accelerate the flow of international climate finance and private sector investments towards low-carbon, resilient projects and initiatives.

CONTEXT

Peru’s progress in advancing the implementation of its climate policy has been slow, with the country’s greenhouse gas (GHG) emissions, excluding land use, land-use change and forestry (LULUCF), increasing by 90% from about 54 MtCO2eq in 1990 to 109 MtCO2eq in 2021. Simultaneously, Peru’s economy and its population are highly vulnerable to climate change, especially water and food insecurity.

Peru faces significant barriers in addressing climate change, including limited institutional capacity to integrate environmental, social, and climate considerations into financial planning and public debt tools; local financial sector unable to effectively screen and mitigate climate risks; a lack of mechanisms to integrate climate change considerations into PPPs; and constrained institutional ability to tap into international climate funds like the GCF. These challenges affect governmental entities such as MEF, MINAM, SBS, and SMV, as well as local financial institutions and infrastructure planning bodies. As a result, the country's climate action, sustainable development, and infrastructure resilience efforts are hindered, making it more vulnerable to the impacts of climate change.

GGGI program aims to support the Government of Peru’s climate finance efforts by delivering a set of complementary workstreams:

• Workstream 1: Building the institutional capacity of Ministry of Economy and Finance, Ministry of Environment, and the Superintendence of Banking, Insurance and Private Pension Funds Administrators (SBS) to integrate environmental, social and climate change considerations into public debt instruments, financial planning and regulation.

• Workstream 2: Greening Peru’s private banking sector.

• Workstream 3: Developing a strategic framework for low-carbon, climate-resilient public-private partnerships (PPPs).

• Workstream 4: Accelerating access to the Green Climate Fund.

  POSITION SUMMARY

  Based in Lima, Peru, the Sustainable Finance Officer will act as the Sustainable Finance focal point of the GCF Readiness project, originating and structuring sustainable finance instruments and mechanisms to integrate environmental, social and climate change considerations in Peru’s financial sector to accelerate the mobilization of international climate finance and private investments.

  S/he will work within the premises of the Ministry of Economy and Finance, Directorate of International Economics, Competition and Productivity Affairs, in which relies also the National Designated Authority, and report to GGGI Public Finance Senior Officer.

  PURPOSE

  • Accelerate the integration of E&S and climate change standards in Peru’s public finance sector through capacity building and technical assistance to the Ministry of Economy and Finance, Ministry of Environment and national development banks among others identified as relevant;

  • Assist the integration of gender and climate change considerations into Peru’s public budget through the development of a Climate and Gender Budget Tagging methodology;

  • Promote sustainable banking practices through policy recommendations and capacity building;

  • Advise public and private financial sector actors on the design and structuring of innovative sustainable finance instruments, including thematic bonds, green credit programs and debt for nature swaps, among other instruments identified as relevant in the project;

  • Deliver on-demand technical assistance to the Ministry of Finance on sustainable finance matters, in coordination with the General Directorate of International Economics, Competition and Productivity Affairs, in which relies also the National Designated Authority.

    ENGAGEMENT

    • Report to the Colombian Program Manager.

    • Build and maintain strong relationships with public and private sector counterparts, financial institutions, project developers, banking and multilateral partners and government officials.

    • Engage with focal points, accredited entities and executing entities of international climate funds, including the Green Climate Fund, Adaptation Fund and Global Environment Facility.

    • Support the Project manager with go to market engagement activities, including mapping, engagement and negotiation with investors.

      DELIVERY

      • Develop and deliver sustainable banking and sustainable finance capacity building material.

      • Develop recommendations for MEF and SBS to design sustainable banking regulations to promote mitigation and disclosure of ESG and climate-related financial risks.

        📚 𝗗𝗶𝘀𝗰𝗼𝘃𝗲𝗿 𝗛𝗼𝘄 𝘁𝗼 𝗚𝗲𝘁 𝗮 𝗝𝗼𝗯 𝗶𝗻 𝘁𝗵𝗲 𝗨𝗡 𝗶𝗻 𝟮𝟬𝟮𝟯! 🌍🤝 𝗥𝗲𝗮𝗱 𝗼𝘂𝗿 𝗡𝗘𝗪 𝗥𝗲𝗰𝗿𝘂𝗶𝘁𝗺𝗲𝗻𝘁 𝗚𝘂𝗶𝗱𝗲 𝘁𝗼 𝘁𝗵𝗲 𝗨𝗡 𝟮𝟬𝟮𝟯 𝘄𝗶𝘁𝗵 𝘁𝗲𝘀𝘁 𝘀𝗮𝗺𝗽𝗹𝗲𝘀 𝗳𝗼𝗿 𝗨𝗡𝗛𝗖𝗥, 𝗪𝗙𝗣, 𝗨𝗡𝗜𝗖𝗘𝗙, 𝗨𝗡𝗗𝗦𝗦, 𝗨𝗡𝗙𝗣𝗔, 𝗜𝗢𝗠 𝗮𝗻𝗱 𝗼𝘁𝗵𝗲𝗿𝘀! 🌐

        ⚠️ 𝐂𝐡𝐚𝐧𝐠𝐞 𝐘𝐨𝐮𝐫 𝐋𝐢𝐟𝐞 𝐍𝐨𝐰: 𝐏𝐨𝐰𝐞𝐫𝐟𝐮𝐥 𝐓𝐞𝐜𝐡𝐧𝐢𝐪𝐮𝐞𝐬 𝐡𝐨𝐰 𝐭𝐨 𝐠𝐞𝐭 𝐚 𝐣𝐨𝐛 𝐢𝐧 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐍𝐚𝐭𝐢𝐨𝐧𝐬 𝐍𝐎𝐖!

      • Organize and deliver consultation and validation workshops to validate products and activities.

      • Support local financial institutions in the design and implementation of Environmental and Social Management Systems and green credit lines.

      • Assist MEF and MINAM in the planning and implementation of pre- and post-transaction activities for GSSS bonds and debt for nature swaps (e.g. GSSS Bond Framework development).

      • Originate, validate and develop GCF concept notes to access long-term concessional capital from international climate funds.

      • Evaluate, analyze, and report on economic and financial environment and related matters requested by the General Directorate.

        REQUIREMENTS

        QUALIFICATIONS

        • Must be a Peruvian citizen, or a foreigner holding a valid Work Visa.

        • Bachelor’s degree in Public Administration, Finance, Economics or other related fields.

        • Preferably an advanced degree in Finance, Public Administration, Economics, Sustainable Development, or other relevant field.

        • Preferably 5 years of professional sustainable finance experience, including thematic bonds, green credit/loans, sustainable banking, climate funds, climate-smart PPPs, etc.

        • Proficient communication skills, in written and oral, both in English and Spanish is required.

        • Demonstrated ability to formulate project proposals in compliance with requirements of various climate finance funds.

        • Ability to interact and form relationships with high-level government officials and partners.

        • Knowledge of and experience in adhering to internationally agreed environmental and social safeguards (ESS) and gender-sensitive design requirements.

        • Strong ability to work independently and/or remotely, while maintaining productivity.

        • Promote diversity and inclusion.

          CORPORATE

          • Understand and actively supports GGGI’s mission, vision and values.

          • Promote the optimum use of public resources.

          • Promote an organizational culture of trust, transparency, respect and partnership.

          • Process and share information easily.

          • Manage emotions and stress positively, builds rapport and resolves conflict easily.

          • Promote creativity and innovation among staff.

          • Be able to lead where needed and provide solutions to project-level challenge.

            WORKING CONDITIONS

            The Sustainable Finance Officer is an X8 grade level in GGGI’s Peru national salary scale. The salary range for the position starts at USD 54,891 per annum, depending on qualifications, experience and internal equity. GGGI provides 15% of base salary towards retirement plan/long-term savings, 27 days of annual leave, and private health insurance that covers dental and vision.

            GGGI is committed to providing a work environment that is sufficiently flexible to accommodate diverse life-cycle challenges and assist Staff members in achieving a better balance between work and personal/family commitments, thus ensuring high performance, long-term productivity, and well-being.

            Child protection – GGGI is committed to child protection, irrespective of whether any specific area of work involves direct contact with children. GGGI’s Child Protection Policy is written in accordance with the Convention on the Rights of the Child.