UNDP Jobs - 61604- Mainstreaming Energy Efficiency Lending in the Ban

Mainstreaming Energy Efficiency Lending in the Banking Sector

Location :

Mahe, SEYCHELLES

Type of Contract :

Individual Contract

Starting Date :

01-Dec-2015

Application Deadline :

27-Nov-15 (Midnight New York, USA)

Post Level :

International Consultant

Duration of Initial Contract :

3 months

Languages Required :

English

Expected Duration of Assignment :

40 working days over 3 months

UNDP is committed to achieving workforce diversity in terms of gender, nationality and culture. Individuals from minority groups, indigenous groups and persons with disabilities are equally encouraged to apply. All applications will be treated with the strictest confidence. UNDP does not tolerate sexual exploitation and abuse, any kind of harassment, including sexual harassment, and discrimination. All selected candidates will, therefore, undergo rigorous reference and background checks.

Background

Seychelles is highly dependent on imported oil to meet its energy needs (90% of the primary energy supply comes from imported fuel, with imports of fuel for electricity generation alone accounting for 12% of the total government budget). This heavy reliance on imported fossil fuels places heavy pressure on the country’s foreign exchange reserves, exacerbates state budget deficits, and poses major energy security concerns, both in terms of access to supplies and pricing. A market for energy efficient appliances is just beginning to develop in the Seychelles, based in large part on the rapidly rising cost of electricity for most consumers. However, this market is constrained in many ways, including a lack of consumer awareness about energy efficient (EE) appliances, extremely limited purchase options for EE appliances (apart from energy saving lights), the inability of consumers to get bank loans or store financing for the purchase of high-value EE appliances (such as air conditioning units, refrigerators/freezers, and washing machines), and the absence of any standards or labelling schemes or requirements for energy related products in the country. A market for bioclimatic design and rehabilitation of residential buildings (at least for thermal insulation of roofs) also needs to be be promoted.

The GOS-UNDP-GEF project Promotion and up-scaling of climate-resilient, resource efficient technologies in a Tropical Island Context is supporting the Seychelles Energy Commission (SEC) and other stakeholders in setting up and implementing of equipment and building standards, fiscal policies, efficiency targets and agreements, audits and assessments, information dissemination programmes, and research and development activities. The project will also provide critical catalytic support to several programs designed to provide concessionary financing for energy and water efficient appliances, including the Seychelles Energy Efficiency and Renewable Energy Programme (SEEREP), a financing scheme for the residential sector to purchase EE appliances. This is a credit facility of the commercial banks and Seychelles Credit Union (SCU) to provide concessionary finance for the adoption of EE technologies in the Small and Medium Enterprises (SMEs) sector, and Neptune Programme of the Public Utilities Corporation (PUC), which will provide concessionary financing for the purchase of water saving devices, including rainwater harvesting installations and other source substitution solutions.

Concerning SEEREP, the Government initially targeted 3,500 households for the period 2014-2018. A recent evaluation of the performance of the SEEREP has found that after 18 months only 20 applications were approved. Uptake of SEEREP has therefore been seriously lacking, which is considered as due to:

A limited awareness on energy efficiency issues among the general public;
The absence of a scheme to certify and label the performance of energy related products;
Limited marketing of SEEREP leading to a lack of awareness of SEEREP;
A limited capacity of commercial banks to identify and support businesses opportunities in the energy efficiency sector.

Duties and Responsibilities

The consulant will work under the supervision of the Seychelles Energy Commission (SEC) and will work in close collaboration with the Ministry of Finance, Trade and Blue Economy (MFTBE) and project staff engaged in reviewing the performance of the SEEREP.

The specific duties of the consultant are as follows:

Carry out a detailed technical and capactiy assessment analysis through a consultative process and a desktop review of current practices related to lending to Energy Efficiency projects within the banking sector (target institutions are: Barclays, Nouvobanq, Mauritius Commercial Bank, Seychelles Credit Union, Bank of Ceylon, Seychelles Commercial Bank, Bank of Baroda, Habib Bank, Development Bank of Seychelles, Seychelles Association of Bankers and Cental Bank of Seychelles.);
Analyse and estimate the market for energy efficiency financing within the business communities (large- and medium-size) by reviewing existing documents, interviewing key stakeholders and carrying out energy audits of representative businesses, if found necessary/possible;
Carry out a legal, policy and institutional review related to energy effciency and associated lending, and make recommendations to improve the lending framework to support energy efficiency in the public and private sectors;
Identify barriers to upscale lending by the banking sector to energy efficiency projects;
Propose recommendations to mainstream energy efficiency lending in the bankingsector;
Produce a training manual to increase capacity within the banking sector on energy efficiency financing;
Lead a two day capacity building workshop on energy efficiency lending (supported by the project’s SEEREP consultant) during which findings of the consultancy will be presented and discussed. Capacity building activities will be developed based on the results of a detailed capacity needs assessment of the banking sector (1 above).

Competencies

Demonstrable ability to maintain effective communications with different stakeholders;
Fully computer literate;
Good presentation and reporting skills;
Have effective interpersonal skills and ability to work in complex, multi-stake-holder projects;
Demonstrates integrity by modelling the UN’s values and ethical standards;
Promotes the vision, mission, and strategic goals of UNDP;
Displays cultural, gender, religion, race, nationality and age sensitivity and adaptability;
Treats all people fairly without favouritism;
Fulfils all obligations to gender sensitivity and zero tolerance for sexual harassment.

Required Skills and Experience

Education:

Minimum of a Masters’ degree with a background in finance, preferably specialization in energy or other resource efficiency.

Experience:

Minimum of 10 years of international experience with lending institutions related to resource efficiency projects;
Practical experience in similar assignments, preferably with experience in Small Island Developing States;
Demonstrated leadership ability and technical ability to communicate complex ideas verbally and in writing;
Prior UNDP/GEF project experience and knowledge of UNDP and GEF procedures and guidelines is an advantage.

Language:

Excellent English communication skills (oral, written, and presentation) are essential;
Knowledge of French will be an advantage;
The language of the assignment shall be English. All deliverables shall be in English language.