Senior Industry Specialist – Carbon Asset, IFC

Senior Industry Specialist – Carbon Asset – 110975

Basics

 
Job #: 110975
Title: Senior Industry Specialist – Carbon Asset
Job Stream: Other
Location: Washington, DC
Close Date: 18-Jul-2011

Background / General description:

 
The International Finance Corporation (IFC), the private sector investment arm of the World Bank Group, pursues its mission of reducing poverty and improving people s lives by promoting private sector development through investment and advisory services. We are a client-centered, high-impact development institution. We enable our clients to excel through our global expertise, agile local teams, and a unique combination of innovative financing and advisory solutions, thus transforming people s lives. With climate change as a strategic pillar of its business, the Corporation has established a new department, the Climate Business Group (CBG), to provide leadership on climate change and leverage IFC s investment and advisory businesses to maximize impact. CBG is a centrally positioned product and investment group with the mandate to promote thought leadership, innovation, new initiatives and investments in climate-related activities in all sectors and regions across IFC. CBG works closely with other industry investment groups within IFC, including Infrastructure, Manufacturing and Financial Markets, and Regional departments, as well as with appropriate counterparts within the World Bank. The CBG consists of three thematic groupings: Strategy, Risk Mitigation and Advisory; Investments and Technologies; and Financial Products and Innovation. The Climate Financial Products (CBGCP) unit of the CBG takes the lead within IFC to develop new innovative financial products and structures for financing for climate-friendly projects including linkages to carbon markets and other related asset classes and services in emerging markets. CBGCP is currently managing two Carbon Facilities for the Government of the Netherlands and has completed three Carbon Delivery Guarantee transactions with structured carbon finance exposure for IFC s account. In May 2011, IFC commenced operations of its Post-2012 Carbon Facility. This Facility will help address post-2012 market uncertainty faced by climate-friendly projects eligible under the Kyoto Protocol s Clean Development Mechanism (CDM) by creating a pathway to market. Currently such projects have few means of obtaining revenues for carbon reduction due to the expiration of the Kyoto commitment period at the end of 2012. IFC will manage the Facility and participate with up to €15 million for its own account and mobilize up to an additional €135 million in funds from EU-based power utilities and other energy companies. As of May 27, 2011, €90 million had already been committed. Funds will be used to forward purchase emission reduction credits produced by IFC client companies and projects financed by IFC s client banks until 2020.

Duties and Accountabilities:

 
  • Ensure that projects which will be included in the pipeline and portfolio of the IFC Post-2012 Carbon Facility will generate high-quality Certified Emission Reductions (CERs) that will meet the regulatory requirements set by the U.N. Clean Development Mechanism and by the European Union s Emission Trading Scheme (EU ETS);
  • Advise CBGCP staff, IFC investment officers, and IFC clients on issues concerning CDM baseline and monitoring methodologies and additionality determination;
  • Provide quality assurance of the Facility projects by reviewing, editing and drafting relevant project documents (Project Design Documents; Monitoring Reports; Validation Reports; POA Design Documents; CPA Design Documents) required for registration of CDM projects and Programs of Activities, as well as for issuance of CERs;
  • If needed, lead development of new methodologies and revisions of existing approved methodologies for baselining and monitoring;
  • Closely monitor developments in baseline, monitoring and additionality methodologies and frameworks at the level of the CDM Executive Board and the EU ETS;
  • Keep the CBGCP unit abreast of regulatory and technical developments with potential impact on eligibility and quality of carbon assets;
  • Help prepare monitoring manuals (“instructions”) to be utilized by project companies during the implementation phase of the Facility projects;
  • As necessary, work closely with Designated Operational Entities to ensure that Facility projects be validated, registered, and verified under the CDM in a timely manner;
  • As necessary, work closely with Designated Operational Entities to ensure that high-quality CERs will be issued by the Facility projects in a timely manner;
  • Participate in capacity building and support IFC carbon finance advisory services (AS) products as needed and required;
  • Coordinate with relevant World Bank Group and other multi/bilateral institutional colleagues as needed and useful.

Selection Criteria:

 
  • Graduate degree in engineering, scientific discipline, or similar;
  • At least eight years or more of relevant experience from similar position(s);
  • Detailed knowledge and extensive experience with CDM methodologies for baselining, monitoring and additionality of CDM projects ideally acquired at leading carbon funds/facilities;
  • Experience as methodology developer, external reviewer for the UNFCCC secretariat, UNFCCC methodological staff, etc. would be a strong plus;
  • Experience with energy efficiency, renewable energy, and waste management projects is essential;
  • Experience across key CDM sectors is required, as well as a sound technical understanding of key CDM technologies;
  • Appreciation of private sector needs and perspectives on the CDM;
  • Have an extensive network of relevant contacts among CDM methodology experts, DOEs, and national and international CDM regulators;
  • Ability to explain technical and regulatory issues clearly, concisely, and efficiently to non-experts;
  • Excellent communication skills in both oral and written English, additional language skills are an advantage.
  • International travel will be required. IFC offers a highly challenging and rewarding working environment with outstanding opportunities for professional growth, as well as attractive conditions All applications will be treated in strictest confidence. Only applicants selected for interviews will be contacted. PLEASE NOTE THAT THIS IS A COTERMINOUS TERM POSTION. (A re-entry guarantee will need to be provided by the releasing unit to Bank staff holding open-ended or regular appointment.)

 
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