Result of Service

The consultant’s services will be pivotal in advancing UNEP FI’s strategic objectives to integrate nature into the financial sectors core decision-making processes. By supporting the application of the ENCORE tool and developing replicable case studies, the consultant will provide concrete examples of best practices that align with UNEP FIs strategy to promote sustainable finance globally. These case studies will serve as key resources for the Nature team to demonstrate the practical implementation of nature-related risk assessments, showcasing how financial institutions can integrate biodiversity considerations into their risk management and operational frameworks. Through targeted capacity-building and training programs, the consultant will help operationalize the Nature team’s strategy to mainstream nature across financial institutions in Colombia. These efforts will not only enhance the skills and knowledge of key bank teams but also align their strategies with the Kunming-Montreal Global Biodiversity Framework. By fostering this alignment, the consultant will support UNEP FIs overarching goal of ensuring that financial institutions contribute positively to global sustainability targets, particularly in biodiversity conservation and nature-positive investments. Moreover, the consultant’s work will provide a proof of concept for an advanced capacity-building program tailored to the financial sector in Colombia, directly supporting the strategic priorities of the Nature team. This initiative will enable UNEP FI to demonstrate the value of integrating nature into financial practices and set a foundation for scaling similar efforts globally.

Work Location

Home-Base / Working Remotly / in Colombia

Expected duration

4 months

Duties and Responsibilities

The United Nations Environment Programme (UNEP) is the leading global environmental authority that sets the global environmental agenda, promotes the coherent implementation of the environmental dimension of sustainable development within the United Nations system and serves as an authoritative advocate for the global environment. The overall objective of the UNEPs Economy Division is to encourage decision makers in government, local authorities and industry to develop and adopt policies, strategies and practices and technologies that promote sustainable patterns of consumption and production, make efficient use of natural resources, ensure safe management of chemicals and contribute to making trade and environment policies mutually supportive. It promotes the development, use and transfer of policies, technologies, economic instruments, managerial practices and other tools that assist in environmentally sound decision making and the building of corresponding activities. The United Nations Environment Programme Finance Initiative (UNEP FI) is the strategic partnership between the United Nations and over 500 banks, insurers and investors. For over 32 years UNEP FI has been shaping and driving the international sustainable finance agenda, setting global standards and growing a global network of leading financial institutions. Through its work-streams and regional activities, peer learning, methodology development, training and research, UNEP FI promotes sustainable finance and helps the financial industry align with and contribute to the Paris Agreement and Sustainable Development Goals. UNEP FI needs a consultant to work in the nature team to focus on awareness raising and capacity building and coordinate the expanding body of work on this topic under this thematic. The technical consultant will support its capacity building activities in Colombia and work in tandem with key stakeholders at PRB signatory banks to:

• Enable the use of the ENCORE tool by PRB signatory banks in their nature-related risk assessments, fostering the interpretation of results and encouraging the documentation in the form of replicable case studies relevant to the Colombian context.
• Support the use of UNEP FI frameworks and guidance to help PRB signatory banks incorporate nature-related considerations into their risk management and decision-making, ensuring relevance to the local context.
• Lead the development of replicable use cases for ENCORE in order to build best practice models for banks in Colombia to mainstream nature in their business models and risk management frameworks.
• Provide capacity building to PRB signatory banks in Colombia on the UNEP FI PRB Nature Guidance, to drive uptake of banks to identify priority actions and set targets that align with the Global Biodiversity Framework, with considerations for local adaptation.
• Bridge the gap between emerging global guidance on private nature finance and the specific national context of Colombia, fostering awareness of locally relevant opportunities for nature and transition finance especially in the context of economically critical sectors for Colombia.
• Lead development and execution of awareness and training activities for PRB signatory banks on nature-related impacts, dependencies, risks and opportunities for critical economic sectors in Colombia.
• Lead sharing sessions with the financial sector in Colombia and the UNEP FI PRB nature community.
• Coordinate with the UNEP FI nature team and provide updates to the SECO (State Secretariat of Economic Affairs) project. Specific tasks and responsibilities: The consultant will provide assistance in the following project/tasks: a. Enhance applicability and replicable use cases for ENCORE
• The consultant will support the development of a framework and case study that helps aggregate and interpret ENCORE analysis of PRB signatory banks. The framework shall enable the analyses to be contextualized and provide insights into nature-related dependencies, impacts, risks, and opportunities. By encouraging banks to utilize the framework, banks will be able to understand their exposure and prioritise areas of action. In addition, the consultant will help build replicable use cases that demonstrate best practices for integrating nature into business models and risk management frameworks.
• The consultant will collaborate with the ENCORE partnership to share feedback and identify opportunities to enhance the use of ENCORE, tailoring its application to the specific needs of Colombian banks. b. Derive priority actions and support target setting for PRB signatory banks
• The consultant will provide capacity-building support to PRB signatory banks in Colombia, which will enable them to conduct a portfolio-wide nature assessment. This will include developing guidance on interpreting nature-related dependencies, impacts, risks, and opportunities to help banks identify priority sectors and key nature-related issues. The consultant will help create a framework that banks will be able to use to make informed decisions and integrate these insights into strategic planning.
• The consultant will demonstrate the PRB Nature Guidance and its activities related to setting practice-level targets. This will allow banks to create action plans and roadmaps for integrating nature into their practices. Additionally, the consultant will help facilitate board awareness-raising sessions to build senior leadership engagement on nature-related risks and opportunities.
• The consultant will compile case studies from the Colombian financial sector to illustrate the level of maturity of banks reporting in line with the Taskforce on Nature-related Financial Disclosures (TNFD). These case studies, along with other compiled examples, will be published on the UNEP FI and ENCORE websites to showcase best practices and support other financial institutions in their target-setting efforts. c. Accelerate integration of nature into risk management and sustainable finance for PRB signatory banks
• The consultant will play a role in accelerating the integration of nature into risk management and sustainable finance practices for PRB signatory banks in Colombia. The consultant will develop guidance to derive tailored engagement…