United Nations Environment Programme (UNEP)

Legal Expert (The Finance Sector)

United Nations Environment Programme (UNEP)

Job Description

Posting Title: UNEP Finance Initiative (UNEP FI) - Good Growth Partnership Paraguay In Country ESG Legal Expert for the Finance Sector Department/Office: United Nations Environment Programme Duty Station: GENEVA Posting Period: 12 February 2021 - 22 February 2021 Job Opening Number: 21-United Nations Environment Programme-149739-Consultant United Nations Core Values: Integrity, Professionalism, Respect for Diversity Result of Service The ultimate result of the service will be strengthened the capabilities of the regulatory supervisors as well as the personnel in charge of evaluating, controlling and monitoring compliance with resolution 08 and ESMS , and the establishment of enhanced ESG policies, processes and procedures by the banks that will take part in the training programme, which will try to translate the importance to capture deforestation risks in their books and portfolios. Trained with better tools and techniques to understand the scope of the risks they are exposed to, the target public entities as well as banks will be allowed to develop and implement appropriate strategies to reduce their contribution to the economic activities driving deforestation in the palm oil, beef and soy production sectors.

Work Location Working remotely Expected duration The duration of the contract should be for 6 Months Duties and Responsibilities UNEP Finance Initiative in collaboration with the International Finance Corporation and in partnership with UNDP, WWF US and Conservation International, is executing a GEF funded project on enabling transactions for removing deforestation from commodity supply chains ("Good Growth Partnership", hereinafter referred to as GGP) with a focus on palm oil in Indonesia and Liberia, soy in Brazil and beef in Paraguay. The project is comprised of three components: 1) Support to commercial transactions 2) Support to Financial Markets & Institutions 3) Support to Governments In a rapidly evolving operating environment that increasingly recognize the importance of forests in supporting the functioning of agricultural commodity supply chains, risks created by unsustainable deforestation present a considerable threat for the long-term value of companies producing, transforming, transporting and selling these commodities.

For the Financial Institutions that invest in these companies, the misperception and even ignorance of these risks can result in a suboptimal allocation of the assets under their management and in imperfectly hedged and therefore not recoverable losses.

This consultancy will focus on GGP activities in Paraguay. The Banking community in this country often relies on the inclusion of Environmental, Social Governance (ESG) criteria in their investment decision-making processes to identify and manage potential environmental and social risks in their positions. However and to date, deforestation risks have either been ignored in ESG criteria or inappropriately factored in. In April 2020 the Central Bank of Paraguay adopted Resolution 8 which makes the integration of ESG criteria by the finance sector compulsory. In order to facilitate the supervisory aspects of Resolution 8 implementation with by the Central Bank with the banking community UNEP FI will be developing a training program on sustainable finance.

The consultancy is a continuation of the implementation process of the UNEP Finance Initiative work plan under the GGP Programme, which will allow the delivery of specific trainings on the implementation process of the new Resolution 08, focusing on the processes to control the compliance of ESMR of financed products (specially of those related to deforestation, such us farming), the initial monitoring of results of the implementation processes the and the formation of capacities, initially in the Supervisory Department at the Superintendency of Banks of the Central Bank of Paraguay, to then extend training to the financial actors of the public sector and specific private sectors The consultancy will be two fold and consist of (1) providing technical expertise into the implementation of UNEP Finance Initiative workplan under the GGP Programme, and (2) the consultant will be responsible for providing technical advice on the legal implications for the implementation of Resolution 8 as part of the training programme specifically focused on increasing the capacity of the Supervisors of the Central Bank of Paraguay, MADES (the Ministry for the Environment) and INFONA (National Forestry Institute) to better assess environmental, social risk and in particular, deforestation risks in their supervisory processes.

Technical Support In-country technical advice on sustainable finance in relation to GGP and other sustainable land use activities of UN Environment Under this track, the consultant will have to: (i) Provide technical expertise on financial regulation ii) draft short brief outlining opportunities to support the development of fiscal incentives related to agri-commodities (iii). technical backstopping on matters related to legal interpretation of financial and environmental regulation; and (iv) providing research support and advice to other UN Environment-led projects in the Paraguay bearing direct relevance for GGP, in particular with the UN-REDD country training activities on finance and private sector engagement and the GEF-FOLUR and GCF projects in Paraguay, especially on issues relating to financial regulation and fiscal policy reform for UN Environment sustainable land use activities.

Relationship management The consultant will be in charge of: (1) liaising with the Government of Paraguay, in particular the Central Bank of Paraguay and other key stakeholders in support of the implementation and Coordination of the GGP workplan, or other UN Environment sustainable land use activities, in Paraguay (2) organising training programmes, as well as, meetings, workshops and other in-country activities related to the GGP programme, (3) continue to engage the Central Bank of Paraguay, Banco Nacional de Fomento, Agencia Financiera de Desarrollo, Fondo Ganadero, Credito Agricola, all entities, in charge or facilitating funds to reforestation, farming, Agriculture, livestock and or development regarding the legal implementation of Resolution 8, (4) engage the private banking, Asset Management and insurance entities to deliver the GGP program activities, specifically to deliver the national training programme.

Objectives, output expectations and performance indicators The specific objectives of the consultancy include: 1. Provide technical expertise and backstopping on matters related to legal interpretation of financial and environmental regulation such as the Forest Law.

2. Draft short brief outlining opportunities to support the development of fiscal incentives related to agri-commodities 3. Providing research support and advice to other UN Environment-led projects in the Paraguay bearing direct relevance for GGP, in particular with the UN-REDD country training activities on finance and private sector engagement and the GEF-FOLUR and GCF projects in Paraguay, especially on issues relating to financial regulation and fiscal policy reform for UN Environment sustainable land use activities.

4. Support the Project Manager to organize outreach activities to sensitize stakeholders of the importance of including criteria of deforestation risk in their decision-making processes; 5. Liaising with State and National institutions of the Government of Paraguay such as Ministry of Environment, the National Forestry Institute and the Central Bank of Paraguay and other key stakeholders in support of the implementation of the GGP workplan and other UN Environment sustainable land use activities in Paraguay in particular to develop a strategy on fiscal policy reform to support deforestation free commodity production; 6. Coordinating on a regular basis with GGP partners in-country, attending meetings and sharing updates on UNEP Finance Initiative or other UN Environment sustainable land use activities as needed; 7. Preparing and compiling inputs for reporting on the delivery of GGP activities in Paraguay;.

8. Providing technical advice and input to other UN Environment-led projects in the LAC region bearing direct relevance for GGP such as the UN-REDD country activities on finance and private sector engagement as well as any activity of the new UNEP Land Use Finance Unit.

Deliverables: Overview of legal responsibility of the supervisors of the Central Bank to implement Resolution 8, including a baseline review of existing processes and procedures used by the Central Bank by April 2021.

Organize a webinar and stakeholder consultation strategy for soliciting feedback on the draft of the national training programme, to be done in collaboration with the national training consultant by May 2021.

Develop an options paper that outlines the different considerations for engaging the Government of Paraguay on fiscal policy reform to support zero deforestation commodity production by July 2021.

Stakeholder consultation on options paper relating to fiscal policy reform and finalization by August 2021.

Specific tasks and responsibilities The consultant will provide advice and expertise in ESG finance training to contribute to the overall objectives of the programme, the consultant will also consult with UNEP FI's Signatory Programme Officer for Latin America. The consultant's main tasks will include: 1. Provide input to the consultant responsible for developing the national training programme on the legal interpretation of Resolution 8 to ensure applicability to the supervisors of the Central Bank.

2. Coordinate with the Central Paraguayan Bank the training programmes to be implemented and the audience to be targeted.

3. Define effective narrative strategies to get the message of deforestation risk as a material risk across for an audience of financial public entities, targeted private sectors domestic commercial and retail banks and financial institutions.

4. Ensure effective coordination with GGP country partners and make sure that dependencies identified in the integrated annual workplan are appropriately addressed.

The consultant shall be under the overall supervision of Head UNEP FI and report directly to UNEP FI Signatory Programme Officer. The consultant should take direction from the Programme Officer while final deliverables shall also be approved by Head of UNEP FI.

Qualifications/special skills Skills: The ideal candidate should have strong expertise related to legal interpretation and application of regulation previous experience in assisting the public sector, in their integration efforts, either directly as a collaborator in a financial institution or as someone who has work on specific projects with banks in the past. Experience of coordinating or implementing projects for Governmental Entities and/or, within the UN system would be an advantage.

Academic Qualifications: Master's Degree is required in one or several of the following areas: economics, finance, law, business Administration, international relations, development studies or Environmental Management or degree and relevant experience could be taken in lieu Experience: At least five years of work experience is required, working in sustainable finance either in the private sector, or an international or non-governmental organization working on environmental finance.

Language: English is a working language of UNEP FI. Fluency in Spanish is a requirement for this position.

No Fee THE UNITED NATIONS DOES NOT CHARGE A FEE AT ANY STAGE OF THE RECRUITMENT PROCESS (APPLICATION, INTERVIEW MEETING, PROCESSING, OR TRAINING). THE UNITED NATIONS DOES NOT CONCERN ITSELF WITH INFORMATION ON APPLICANTS' BANK ACCOUNTS.

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