Background

India has demonstrated its commitment to greening the economy through ratification of the Paris Agreement on Climate Change, the adoption of the UN Sustainable Development Goals and launching the International Solar Alliance. To deliver on these commitments requires a robust sustainable financing system that mobilizes domestic and international private financing as a complement to public-sector resources. In order to address the funding gap and to make the financial sector resilient to extra-financial risks as well as to explore opportunities in the sustainability space, India needs to make concerted efforts to signal its seriousness towards taking a leadership position on sustainable finance through its policies and actions. Such efforts will also pave the way for attracting finance from international financial institutions who are increasingly attaching “green” conditions to loans and investments as well as reorienting capital towards low-carbon sectors as part of their recovery plans.

The recently launched Sustainable Finance Collaborative, supported by the SDG Finance Facility platform at UNDP India is an effort to bring together leading stakeholders in the financial eco-system with a view to ideate, collaborate and contribute to the Government’s sustainable finance agenda. As a next step, UNDP country office is looking to engage the services of a Specialist Consultant who would work under the ambit of the Collaborative and support the Government of India with the development of a Sustainable Finance Roadmap. This roadmap will serve as a blueprint to follow and will bring together recommended pathways and frameworks with a view to enabling the transition to a more resilient and sustainable economy.

Duties and Responsibilities

The primary responsibility of the Consultant is to lead the development of the Sustainable Finance Roadmap. This will be carried out in consultation and under the supervision of a Taskforce and Chair(s) of the Technical Working Groups comprised of senior representatives from the private sector and government agencies.

While the Consultant will be formally working under the supervision of the Advisor, Social Impact Investments, South Asia at UNDP, he/ she will also be working under the guidance of the Chair of the Working group as well as the two technical working groups who will provide inputs as required for the development of the roadmap. Apart from the working group members, the Consultant will work independently to develop parts of the roadmap that the technical working groups may not have inputs for. Specifically, the Sustainable Finance Consultant will be responsible for undertaking the following activities:

Taking stock of the background of Sustainable Finance in India and the Collaborative

• Prepare a comprehensive document on best global and domestic practices around sustainable finance
• Understand the state of sustainable finance in India including its challenges, goals, needs, current financial and sustainability policies and practices, barriers and opportunities;
• Review and internalize the Collaborative Report which details the findings from the SFC sessions;
• Review the terms of reference for working group, including timelines, milestones, governance structure and deliverables, to use as a guiding framework for the project.
• Basis the above, create a workplan for the development of the Sustainable Finance Roadmap clearly articulating milestones and inputs needed from working group at various stages.

Drafting of a Sustainable Finance definition for India

• Prepare briefing packs and presentations on global definitions of Sustainable Finance for Taskforce and Technical Working Group members
• Drafting the possible definition and scope of Sustainable Finance for India, considering inputs from the Chair, Co-Chairs, Taskforce members and Working Group members and special invitees

Support the working group on development of a Sustainable Finance Roadmap/Action Plan and drafting the final output

• Prepare initial presentation that would layout the methodology and approach that could be followed for development of the roadmap and made adjustments as recommended by the group members
• Preparing any presentations containing frameworks that can guide thinking and creating a pathway for development of the roadmap
• Preparing/ sharing briefing packs on global best practices of Sustainable Finance roadmaps and action plans for the Taskforce and Technical Working Group members to familiarize themselves
• Supporting the Chair of the Working Group with setting the agenda and outline of discussions before each meeting
• Guide discussions on the core components/pillars that could be integrated in a sustainable finance roadmap based on global best practices
• Guide discussions on phase-wise division of the Action Plan (short, medium, long term targets)
• Participate in the Technical Working group meetings as and when invited and lead the conversation in order to collect inputs for the roadmap as well as present findings from the roadmap develop exercise to the Technical Working group members
• Follow-up individually with any member or technical experts (as invited by the working group/ Chair) to fill in any gaps
• Hold 1:1 meetings with experts and working group members as needed
• Carry out debriefs about the status of each milestone
• Collating and integrating comments from working group discussions into the roadmap
• Ensure recommendations on roadmap and action plan follow the pre-determined guidelines and are cognizant of inputs received from the Collaborative sessions
• Drafting the final Roadmap and Action Plan (and accompanying presentation) as approved by the working group Chair for further review and feedback to the larger group of Taskforce and Technical Working Group members and public, incorporating their feedback before the finalised version is shared
• Ensure a level of momentum and execution against the Work Plan and that the project exemplifies good practice, professionalism and good governance in terms of frequency and format of meetings/working sessions and supporting appropriate and timely dissemination of information
• Supervise the junior consultant that would be supporting the Sustainable Finance Consultant

Expected Deliverables/ Outcomes:

• Work plan including identification of milestones for roadmap development
• Presentation on approach and methodology for development of the roadmap
• Draft the Definition and Scope of Sustainable Finance for India
• Draft the Sustainable Finance Roadmap and Action Plan for India including short, medium and long term actions
• Share monthly status updates on progress against established milestones
• Prepare progress presentations as required by the Working Group
• Lead consultative discussions with broader groups of stakeholders on the draft roadmap and finalise the roadmap and action plan based on inputs provided/ accepted by working group and select external stakeholders

The consultant is expected to draw upon his/her skills and experience to provide strategic guidance on the planning, development and delivery of the Roadmap.

Competencies

• Analytical skills: Able to synthesize large sets of inputs and data to form coherent outputs
• Ability to effectively and efficiently interact with senior members and stakeholders
• Must be detail-oriented
• Communication skills: Able to communicate clear ideas across a variety of mediums
• Writing and presentation skills: Able to produce high quality reports and presentations
• Team skills: Able to work independently as well as in teams
• Great organizational and time-management skills

Required Skills and Experience

Academic Qualification:

• Advanced degree in finance/ climate finance, sustainable finance, economics, business or related areas (essential)

Professional Experience:

• At least 10 years of directly relevant professional experience in financial management; financial services or consulting/ advisory (with focus on climate/ sustainable finance),
• Prior experience/ expertise with development of Sustainable Finance Roadmaps
• Experience of supporting working groups and creating roadmaps/ frameworks through a collaborative approach
• Practical experience working with or supporting global development organizations or governments on sustainable finance policies and strategies
• Knowledge of India’s sustainable finance practices
• Knowledge of global best practices on sustainable finance roadmaps and action plans, particularly in developing countries
• Strong understanding of the global sustainable finance industry including green instruments and sectors, sustainability disclosures, sustainable taxonomies, ESG risk management tools and models
• Familiarity with global initiatives and platforms like NGFS, FC4S, IPSF
• Strong experience in research, writing op-eds and articles, content creation on sustainable finance topics

Language Requirement: English

Evaluation Criteria

The award of the contract shall be made to the individual consultant whose offer has been evaluated and determined as Responsive to the requirement. Having received the highest score out of a pre-determined set of weighted technical and financial criteria specific to the solicitation.

Only candidates obtaining a minimum of 49 points (70% of the total technical points) would be considered for the Financial Evaluation;

• Technical Criteria weight - 70%;

• Financial Criteria weight – 30 %

Technical Criteria (70% of the total evaluation)

Criteria 1: Prior Experience (30%)

1. At least ten years of relevant professional experience working in financial management; public finance; investments; financial services or consulting/ advisory (with focus on climate/ sustainable finance) - 20%
2. Strong understanding of the global sustainable finance industry including green instruments and sectors, sustainability disclosures, taxonomies, ESG risk management tools and models – 10%

Criteria 2: Demonstrated Knowledge and Networks on Sustainable Finance (25%)

1. Strong understanding of sustainable finance roadmaps as developed in other countries – 10%
2. Strong network and familiarity with key stakeholders on sustainable finance in globally including stakeholders such as UNEP, IFC, FC4S, NGFS and others – 10%
3. Understanding of India and emerging markets status on Sustainable Finance – 5%

Criteria 3: Multi-stakeholder coordination (15%)

1. Consultant should have demonstrated experience in coordinating multi-stakeholder groups given that the roadmap will be developed under the aegis of a working group – 10%
2. Research and documentation skills vis-a-vis MS Office Suite and prior experience in developing concept notes/reports/ plans will be essential - 5%

Financial Proposal - 30 %

Technically qualified consultants will be requested to submit their daily fee rate i.e. consultants who score more than 70% i.e. 49 marks with respect to the above-mentioned evaluation criteria. Consultant should not specify their consultancy fee on their CV or with the submission. The CV will not be evaluated further in case the consultant submits the same.

Financial Criteria: (30% of the total evaluation) based on the total all-inclusive lump sum amount for professional fee for tasks specified in this announcement. Those candidates short-listed after technical and financial evaluation of their bids will have to appear in an interview and final selection of candidates will be done based on all three parameters (technical evaluation, financial evaluation and outcome of the interview process).

Notes:

• Miscellaneous charges i.e. internet, phone, relocation charges, local travel etc. would not be reimbursed separately.

• Individuals working with institutions may also apply, contract would be issued in the name of institution for the specific services of individual;