Historique

BACKGROUND

Sri Lanka as a one of the biodiversity hotspots in the world needs to pay increased attention to the sustainable management of its biodiversity. This is a challenge for the Sri Lankan government that has so far played a key role in investing on biodiversity especially in the context that Sri Lanka need additional 30 billion LKR within next five years to achieve its biodiversity related targets set in the National Biodiversity Strategic Action Plan, National REDD+ Investment Framework and Action Plan, National Action Plans for Climate Change Adaptation and Land Degradation. The public sector alone is not able to mobilize this amount of resources, therefore making private sector investment an essential pre-condition for achieving national biodiversity targets.

In addition to mobilizing additional resources for biodiversity management it is important to take necessary steps to avoid future expenses related biodiversity restoration and management. In this context, the initiative taken by the Central Bank of Sri Lanka (CBSL) with the support of International Finance Corporation (IFC) to develop a comprehensive Sustainable Finance Roadmap for Sri Lanka is a positive step. It will get the involvement of commercial banks of Sri Lanka to mainstream environmental and social considerations into operations of the banks thus encouraging the environmentally friendly investments.

The Sri Lanka Banks’ Association (SLBA) launched a set of voluntary Sustainable Banking Principles in 2015. Eighteen (18) banks have signed up, committing to mainstream environmental and social consideration into operation. In the same year, Colombo Stock Exchange joined Sustainable Stock Exchanges Initiative. In 2016, the Central Bank of Sri Lanka (CBSL) joined the IFC-supported Sustainable Banking Network (SBN) which consists of banking regulators and banking associations from 35 member countries, representing 85% of banking assets in emerging markets. Seventeen (17) SBN member countries have launched sustainable finance/banking policies, principles or roadmaps. CBSL is interested in understanding global and regional experience in developing sustainable finance and exploring a Roadmap suited to Sri Lanka.

On Feb 28, 2017, CBSL organized the first Sustainable Finance Workshop in partnership with IFC/SBN. The objective of the Roadmap is to help financial institutions effectively manage environmental and social risks associated with the projects they finance and increase support to businesses that are greener, climate-friendly and socially inclusive. The Bank CEOs actively participated in the consultation of the sustainable finance roadmap development. An internal CBSL Task Force and an external Working Group has been set up to lead the Sustainable Finance Roadmap development. The working group comprises CBSL, Ministry of Environment, SLBA, 3 CEOs from commercial, state-owned and international banks respectively, and IFC/SBN.

IFC will provide strategic and technical advisory services to support the development of country-specific policies/guidelines and to harmonize them with international good practices, in particular IFC Performance Standards and Equator Principles. This development highlights an emerging positive dynamic of market-based actions and policy leadership to support the SDG implementation and to increase the allotment of sustainable businesses and industries in portfolios of emerging market banking institutions.

SCOPE AND OBJECTIVES

Scope

UNDP intends to commission an assignment to support the efforts of Central Bank of Sri Lanka along with the International Finance Corporation to develop Sri Lanka Sustainable Finance Road map.  The proposed Sustainable Finance Roadmap will assist financial institutions to effectively manage environmental and social risks associated with the projects they finance. Further it will increase the support of financial institutions to environmentally friendly businesses. The Consultant will work with relevant stakeholders to achieve the tasks detailed under the Responsibilities section of the Terms of Reference.

Objective

Objective of this assignment is to support the Central Bank of Sri Lanka to develop a comprehensive Sustainable Finance Roadmap for Sri Lanka as described in the scope section of the Terms of Reference.  The Roadmap will build on sustainable finance initiatives taken by CBSL, Sri Lanka banks and/or financial institutions so far, leverage relevant international good practices and translate commitment into actionable plan for the Sri Lanka financial market players.   

Devoirs et responsabilités

RESPONSIBILITIES

The Consultant will, building on international best practices, be able to deliver;

I. Support CSBL to develop the Sustainable Finance Roadmap outline

• Review relevant national strategies and existing sustainable finance policies and practices in Sri Lanka, including but not limited to: national strategy on sustainable development or green growth, national strategy on climate change, SLBA’s sustainable banking principles and implementation results if available;
• Identify the needs of Sri Lanka for sustainable finance and the international best practices and trends that fit and benefit Sri Lanka most, including but not limited to relevant sustainable finance roadmap launched by SBN members such as Indonesia and Morocco;
• Draft the Roadmap outline for consultation purpose, including core pillars identified for sustainable finance development;
• Support CSBL Taskforce and the Sustainable Finance working group to implement multi-stakeholder consultation, incorporate feedbacks received and to agree on the Roadmap outline.

II. Support CSBL to draft the Sustainable Finance Roadmap based on the agreed outline

• Make comprehensive recommendations on the core pillars as agreed in the outline;
• Propose action plans and timelines for the Roadmap implementation, covering regulators and different market players.

III. Support the consulting process of the Sustainable Finance Roadmap 

• Support the CBSL Taskforce and the Sustainable Finance working group in the consultation process of the Roadmap among key stakeholders in the market;
• Track and collect feedbacks from leading experts from the banking and regulatory/supervisory communities (via the Sustainable Banking Network members) on different Roadmap drafts;
• Document all feedbacks and inputs of this process and reflect into the Roadmap draft.

Expected Output/Deliverables

1. Draft outline of the Roadmap;
2. Final outline of the Roadmap reflecting CBSL input and incorporating Consultation feedback;
3. First draft of the Roadmap;
4. Second draft Roadmap reflecting CBSL input and incorporating Consultation feedback.

TIMEFRAME

The envisaged time frame of the Consultancy is 50 days within five months;

Start of documents review and analysis - 10 August 2018;

Draft outline of the Roadmap is developed - 31 August 2018;

Draft outline of the Roadmap is consulted and approved by CBSL - 30 September 2018;

1st draft Roadmap is developed - 15 November 2018;

Consultation of draft Roadmap led by CBSL - 15 December 2018;

2nd draft Roadmap incorporating Consultation feedback - 30 December 2018.

Compétences

CONSULTANT PROFILE    

The prospective Consultant should have following Competencies and Qualifications.

COMPETENCIES 

A. Technical

• Experience on sustainable finance mechanisms / roadmaps development;
• Knowledge on global best practices related to sustainable finance roadmaps;
• Strong analytical, writing and communication skills;
• Excellent organizational skills;
• Ability to prepare publications, reports and presentations;
• Ability to manage and work with a multidisciplinary and multicultural team.

 B. Partnerships

• Ability to seek and apply knowledge, information and best practices from multiple sectors;
• Displays cultural, gender, religion, race, nationality and age sensitivity and adaptability;
• Excellent written communication skills, with analytical capacity and ability to synthesize relevant collected data and findings for the preparation of case studies and progress reports;
• Excellent leadership, coordination and team working skills.

C. Results

• Builds strong relationships with clients, focuses on impact and result for the client and responds positively to feedback;
• Good team player who has ability to maintain good relationships.

Qualifications et expériences requises

QUALIFICATIONS

• Master’s Degree or higher in a relevant field, such as Finance, Economics or any other related field; 
• Eligible Consultant should have;
  • strong technical background and track record in the area of sustainable finance policy framework design and development; 
  • Knowledge of the Sri Lanka local financial market and local banking operations is an advantage;
  • Solid technical skills and knowledge on major sustainable finance topics including environmental and social risk management for financial institutions, energy efficiency finance, green bond etc.;
  • Solid knowledge of relevant global sustainability standards and/or initiatives including the IFC Performance Standards, Equator Principles, UNPRI, UNEP FI, TCFD, GRI, Global Compact etc.;
  • Track record in facilitating the multi-stakeholder consultation and engagement in the policy development;
  • Experience of supporting other Sustainable Banking Network members in developing sustainable finance policy frameworks is an advantage.
• Minimum 5 years of demonstrable experience in the technical area of sustainable finance policy development;
• Fluency in written and spoken English.

HOW TO APPLY

• To apply please access UNDP Jobs site http://jobs.undp.org.

• The Application should contain:
  • Cover letter explaining why you are the most suitable candidate for the advertised position and a brief methodology on how you will approach and conduct the work;
  • Updated CV to include qualifications/competencies and relevant past experience in similar projects and contact details of 3 professional referees who can certify your competencies, professionalism, quality of writing, presentation and overall suitability to this TOR;
• Individual Consultants will be evaluated based on a combination of factors including cover letter, the credentials on offer and brief interview (optional) and the offer which gives the best value for money for the UNDP;
• Please send the Financial Proposal separately to the following e-mail address: procurement.lk@undp.org stating the vacancy number/position in the subject line.

FINANCIAL PROPOSAL  

All Inclusive Lump Sum Fee: USD

Or

All Inclusive Daily Fee: USD

Amount in words: USD.

Note: Payments will be based on invoices on achievement of agreed milestones i.e. upon delivery of the services specified in the TOR and certification of acceptance by the UNDP. The applicant must factor in all possible costs in his/her “All Inclusive Lump Sum Fee” including his/her consultancy and professional fee, travel (economy class flights is required to and from the Duty Station) honorarium, board and lodging, and any other foreseeable costs in this exercise. No costs other than what has been indicated in the financial proposal will be paid or reimbursed to the consultant. UNDP will only pay for any unplanned travel outside of this TOR and Duty Station on actual basis and on submission of original bills/invoices and on prior agreement with UNDP officials. Daily perdiums and costs for accommodation/meals/incidental expenses for such travel shall not exceed established local UNDP DSA rates.

For an Individual Contractor who is 62 years of age or older, and on an assignment requiring travel, be it for the purpose of arriving at the duty station or as an integral duty required travel under the TOR, a full medical examination and statement of fitness to work must be provided.  Such medical examination costs must be factored in to the financial proposal above. Medical examination is not a requirement for individuals on RLA Contracts. 

PAYMENT FOR SERVICES

Payment Milestones will be as follows:

• 20% of the total on the submission of an Inception Report containing the draft outline of the Roadmap submitted within one month of signing the Contract;
• 50% of the total on the submission of first draft of the Roadmap on or before 15th November 2018;
• Balance 30% of the total on the successful submission of the second (final) draft of the roadmap.