Description
Do you want to build a career that is truly worthwhile? The World Bank is one of the largest sources of funding and knowledge for developing countries; a unique global partnership of five institutions dedicated to ending extreme poverty and promoting shared prosperity. With 189 member countries and more than 120 offices worldwide, we work with public and private sector partners, investing in groundbreaking projects and using data, research, and technology to develop solutions to the most urgent global challenges. For more information, visit http://www.worldbank.org.
The Sustainable Development Practice Group & the Climate Change Group
Climate change, poverty, and inequality are the defining issues of our age. The World Bank is the biggest multilateral funder of climate investments in developing countries. Over $32 billion in 2022 alone – accounting for over half of multilateral climate finance to developing countries—and over two-thirds of adaptation finance. We intend to go further in helping countries reduce poverty and rise to the challenges of climate change with our revamped mission to create a world free from poverty on a livable planet.
The Sustainable Development (SD) Practice Group (PG) helps countries tackle their most complex challenges in the areas of Agriculture and Food, Climate Change, Environment, Natural Resources & Blue Economy, Environmental and Social Framework, Urban, Disaster Risk Management, Resilience & Land, Social Sustainability and Inclusion, and Water. The Climate Change Group (CCG) resides in the SD PG and is responsible for mainstreaming climate change across the Bank and scaling climate finance.
The Climate Finance & Economics Unit
The Climate Finance & Economics Unit (SCCFE) is one of five units in the World Bank’s Climate Change Group (CCG). The mandate of the unit encompasses three workstreams:
(i) Climate analytics and diagnostics: development of climate analytics and diagnostics, including tools, instruments and flagship reports that inform climate policy, priorities and finance;
(ii) Carbon markets & finance and carbon pricing: support client countries on carbon markets and carbon pricing and drive innovation in international carbon markets infrastructure; and
(iii) Scaling up and innovation in climate finance: develop innovative climate finance instruments and business models to help the Bank scale up climate finance.
SCCFE accomplishes its mandate in close collaboration with other units within CCG and other regional teams and global practices (GPs).
About the Position:
SCCFE is seeking a highly motivated Climate Finance Specialist to be part of a team of finance specialists who provide climate and carbon finance solutions and support sectors and regions in delivering low-carbon development. The Climate Finance Specialist will contribute to overall CFE’s mandate through design and delivery of the climate finance and carbon finance workstreams. He or she is expected to demonstrate solid understanding of key climate change issues, climate finance, carbon markets, and carbon pricing. The successful candidate will also have as solid experience in originating and structuring innovative climate finance approaches across sectors and regions. The successful candidate is expected to have strong understanding in financial markets, financial instruments and products, analytical and project management skills, attention to detail, and excellent communication and interpersonal skills. The Climate Finance Specialist will be based in Washington, DC and will report to SCCFE’s Practice Manager.
Duties & Accountabilities:
• Contribute the strategy for and execution of SCCFE’s climate finance workstream and provide analytical and financial solutions in climate change mitigation and adaptation, with focus on private sector climate finance.
• Support identification and development of pipeline of climate finance engagements across different units in the CCG, the Sector GPs, Regions and externally, where climate finance approaches and instruments have the potential to support countries in transitioning to low carbon economies and mobilizing finance.
• Participate as core team member, including supporting Senior and Lead Climate Finance Specialists, in policy and/or investment operations in relevant sectors and collaborate with operational teams to design, develop and execute innovative business models and blended finance financial structures, and platforms to scale up climate finance in World Bank.
• Contribute to ASA programs and knowledge products on cutting-edge areas of climate finance, carbon pricing, adaptation and mitigation.
• Work closely with senior team members to conduct financial analysis, due diligence, develop innovative financial solutions with a focus to develop scalable and replicable climate finance solutions that enable and mobilize private capital.
• Undertake market research, develop and update climate finance related materials, documentation for internal WB staff and external clients, including preparing relevant internal and external events of SCCFE.
• Perform other duties and functions as assigned by the SCCFE Practice Manager of the Climate Finance Lead.
Selection Criteria
World Bank Group Core Competencies
Climate Change Competencies
The World Bank Group offers comprehensive benefits, including a retirement plan; medical, life and disability insurance; and paid leave, including parental leave, as well as reasonable accommodations for individuals with disabilities.
We are proud to be an equal opportunity and inclusive employer with a dedicated and committed workforce, and do not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.
Learn more about working at the World Bank and IFC, including our values and inspiring stories.