Description

IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. With operations in over 100 countries, we leverage our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2024, IFC investments hit record $56 billion, leveraging the power of the private sector to create a world free of poverty on a livable planet. 

Climate action is at the core of IFC’s business. In fiscal year 2024, IFC delivered $9.1 billion in own-account long-term climate finance and mobilized an additional $10.2 billion. The World Bank Group’s Climate Change Action Plan (2021 – 2025) outlines our collective response to align financial flows with the goals of the Paris Agreement (referred to as “Paris Alignment”). IFC has committed to align 85% of new operations with these goals starting July 1, 2023, and to align 100% of new operations starting July 1, 2025.

IFC’s Climate Business Department is instrumental in implementing the Climate Change Action Plan and achieving Paris Alignment. The Department’s responsibilities include supporting IFC’s investment and advisory teams in identifying climate investments, tracking committed climate finance, collaborating on IFC’s Labeled Bond Program (Green, Blue, Transition), developing analytical tools, leading climate risk management, and fostering thought leadership through publications and external partnerships. These efforts aim to scale IFC’s climate impact and prevent greenwashing.

The Climate Finance & Policy Team within this Department is tasked with mainstreaming Paris alignment in IFC’s operations, assessing climate finance in investments, aiding in structuring sustainable/green finance instruments, contributing to carbon market development, and leading climate impact measurement, including GHG accounting and financed emissions. The team also significantly contributes to climate risk assessment and reporting.
In this context, the Climate Finance & Policy Team is looking to hire an Extended Term Consultant (the Consultant) to be based in Washington DC.

Duties and Accountabilities

The Consultant will assist the Climate Finance & Policy team with a focus on Paris Alignment and Climate Finance assessments of IFC’s investments across sectors, particularly in intermediary investments through the Financial Institutions Group (FIG) and the Disruptive Technologies and Venture Capital (CDF) departments. Key responsibilities include, but are not limited to:

•  Conduct comprehensive assessments of IFC investments for Paris Alignment, addressing both climate mitigation and adaptation/resilience, throughout the lifecycle of the investments.
•  Perform in-depth research on clients’ decarbonization plans and strategies to inform Paris Alignment assessments.
•  Perform GHG accounting for relevant IFC projects, ensuring adherence to recognized standards.
•  Evaluate the eligibility of IFC investments under the MDB Common Principles for Mitigation and Adaptation Finance.
•  Contribute to the development and regular updates of guidance notes, based on the latest Joint MDB Common Principles for Climate Finance and Paris Alignment criteria.
•  Assist in structuring sustainable finance instruments, such as green bonds, green loans, sustainability-linked loans, and adaptation finance solutions.
•  Prepare detailed reports and presentations to convey progress, findings, and recommendations to both internal and external stakeholders.
•  Support the continuous improvement of processes, guidelines, and policies to strengthen climate finance, Paris Alignment, and GHG accounting practices across IFC operations.
•  Foster a collaborative and inclusive work environment, promoting effective teamwork and knowledge sharing within the team and across departments.
•  Undertake additional duties as needed to respond to evolving team objectives and priorities.

Selection Criteria

•  Advanced degree in Business, Finance, Public Policy, Environmental Science, Engineering, or any Scientific Discipline.
•  Minimum of 5 years of relevant professional experience, ideally in climate finance, Paris Alignment, GHG emissions assessment, or development finance. Experience working in emerging markets, as well as knowledge of banking, private equity and/or venture capital, are advantageous.
•  Good understanding of global climate finance frameworks, the Joint MDB Common Principles for Climate Finance Tracking, IFI GHG Accounting Methodologies, and the MDB Methodological Framework for Paris Alignment; familiarity with the UNFCCC is an asset.
•  Excellent teamwork capabilities and the ability to interact effectively with a diverse range of clients and colleagues.
•  Flexibility in task management and willingness to expand professional responsibilities.
•  Proven ability to produce high-quality work under tight deadlines, prioritize effectively, and manage unexpected work demands.
•  Strong independent work ethic and attention to detail.
•  Excellent communication and presentation skills in English; additional languages are advantageous.
•  A demonstrated commitment to global development, low-carbon growth, and promoting climate mitigation and adaptation.

World Bank Group Core Competencies

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