Climate Finance Specialist

The Nature Conservancy • Washington, DC

8d • Remote

About The Position

The TNC-GCF Climate Finance Specialist provides sophisticated business, financial and economic expertise to address conservation challenges. The TNC-GCF Climate Finance Specialist will support a key strategic initiative within The Nature Conservancy by sourcing, developing, and guiding the structuring of non-grant instruments financed by the Green Climate Fund in support of some of our most ambitious climate and conservation efforts. This role will serve as an important nexus between two TNC programs: NatureVest and our Policy and Public Funding Division. NatureVest is the impact investing and sustainable finance unit of The Nature Conservancy. NatureVest’s vision is a world where financial markets value and integrate natural capital into business and investment decisions as part of creating a sustainable, equitable and more efficient economy. NatureVest is part of TNC’s Impact Finance and Markets (IFM) Division, which also includes TNC’s Corporate Engagement and Carbon Markets teams. The Policy and Public Funding (PPF) team expands what is possible through transformational policies and funding mobilization that achieve equitable climate and conservation outcomes for people and nature at scale. This is a two-year funded position with opportunities for extension based on budget and performance. ESSENTIAL FUNCTIONS The TNC-GCF Climate Finance Specialist will be instrumental in developing climate change mitigation and adaptation projects using non-grant instruments to meet country priorities, TNC’s 2030 goals and GCF’s objectives. The Nature Conservancy is an Accredited Entity of the Green Climate Fund (GCF), which allows TNC to collaborate with developing countries and other partners to design and implement transformative climate adaptation and mitigation projects. The Specialist is primarily responsible for developing the non-grant instrument (NGI) components of GCF project proposals, creating the enabling conditions to successfully deliver GCF projects with NGIs. For the purposes of TNC’s GCF projects, NGIs can include concessional and commercial rate debt and equity, both as direct or intermediated investments, with a primary focus on concessional debt products and risk-mitigation mechanisms. The Specialist reports to the Managing Director, Nature Finance within NatureVest, and works in close collaboration with the lead of TNC’s GCF unit. In addition, they will leverage effective relationships with a wide range of colleagues, including TNC regional and country programs, global strategy teams, senior management and impact investing staff, legal teams, project implementation partners, and the GCF. The Specialist supports the strategic priorities of the TNC-GCF Unit by working with broader TNC teams to originate, scope, and conduct diligence on prospective NGIs and integrating NGIs into idea notes, concept notes and funding proposals. To succeed, the Specialist will need to deeply understand the climate adaptation and mitigation objectives of a given project and then identify opportunities for non-grant sources of revenue to help achieve those objectives. This position will include international travel, calls before/after regular working hours, and occasionally require working long hours and weekends. This is a remote position available to candidates where TNC is a registered NGO and has an established office. Schedule and part of core hours must align with that of the East Coast of the United States.

Requirements

• Bachelor's degree and 7 years’ experience in a private sector environment, such as management consulting and investment banking, or with a leading conservation organization or government entity, or equivalent combination of education and experience.
• Experience designing, structuring and managing large scale debt products, preferably for GCF or other public funders and with exposure to climate issues.
• Deep knowledge of financial institutions, including community, commercial, development, sovereign or investment banks and their approaches to loan origination, underwriting, on-lending and risk assessment.
• Knowledge of environmental and social management systems within financial institutions
• Experience negotiating complex agreements and working with teams across the organization as well as externally.
• Experience with current and evolving sustainable finance and ESG trends.
• Experience with blended finance or non-grant financial instruments in climate change projects, private-public partnerships and/or engagement with private sector entities to achieve positive climate change outcomes.
• Experience directly managing large-scale, multi-stakeholder projects to deliver a financial product or other outcome.
• Experience with current and evolving sustainable finance and ESG trends.

Nice To Haves

• Experience designing GCF funding proposals and concept notes.
• Experience in designing and implementing on-lending operations.
• Experience in community banking, financial inclusion and deepening financial markets as well as with safeguards.
• Substantial practical experience developing, managing or implementing multi-million-dollar conservation and climate change projects/programs funded by bilateral and multilateral donors.
• Ability to lead strategically with a solid understanding of how to develop complex projects using sound consultation processes.
• Ability to work in partnership with others in a collaborative or advisory role, both in person and remotely to implement complex processes.
• Ability to lead strategically with a solid understanding of how to develop complex projects using sound consultation processes.

Responsibilities

• Develop the non-grant-based components of GCF projects, primarily focused on debt and risk mitigation mechanisms. This includes deal sourcing, drafting of Idea Notes, Concept Notes, applications for Project Preparation Facility funding, and Funding Proposals. It encompasses supporting the development of the feasibility studies, economic and financial analysis, Theory of Change (ToC), safeguards, logical framework, budget and other components of the funding proposal.
• Hire and oversee consultants contracted to support the project development process.
• Draft or supervise the drafting of key deal documents, including financial models, term sheets, and lending and on-lending agreements.
• Advise and build capacity in TNC country programs, government counterparts, and other partners on innovative financing structures for GCF projects, including the funding process and compliance rules.
• Guide and support potential Executing Entities throughout project development and implementation.
• Provide project management for NGI development workstreams and lead or support training, capacity building and other workshops, consultations and country visits with relevant stakeholders, including governments, Nationally Designated Authorities and local partners.
• Lead the review of proposal documents to ensure technical quality and alignment with country, GCF and TNC strategies and policies. Provide feedback and direction on drafts and respond to feedback from the GCF and other actors.
• Help identify and source the necessary co-financing, engaging with various public and private sector investors and collaborating with IFM's Capital Raising team.
• Maintain an understanding of current GCF policies and priorities and apply them in TNC’s GCF proposals, ensuring compliance with donor priorities and regulations.
• Persuasively communicate complex finance, investment, and market concepts to internal and external stakeholders with diverse backgrounds.
• Lead oversight and implementation of loan-based components of the projects for TNC’s GCF Unit.
• Support the development and implementation of tools, processes, and capacity building materials on GCF project development and implementation.

Benefits

• TNC offers a competitive, comprehensive benefits package including health care benefits, flexible spending accounts, a 401(k) plan with an 8% employer match, parental leave, accrued paid time off, life insurance, disability coverage, employee assistance program, other life and work well-being benefits.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level