Expressions Of Interest Consultancy Services For Green And Sustainability Bonds Ebrd Register

Expressions Of Interest Consultancy Services For Green And Sustainability Bonds Ebrd RegisterAssignment Background Description In Order To Finance The Transition To Sustainable And Low Carbon Economies Consistent With The Paris Agreement A Substantial Capital Re Allocation From Business As Usual Towards Green Investments Will Be Required Together With An Estimated Usd 6 7 Trillion In Annual Green Investments Over The Next 15 Years In Key Sectors Such As Green Buildings Energy Efficiency Clean Energy Clean Transportation And Environmental Remediation Despite Substantial Growth With More Than Usd 100 Billion Issued In 2017 Green Bonds Still Represent Less Than 1 Of Debt Securities Issued Globally While The Green And Or Sustainability Bond Issuances Out Of Emerging Markets Are Scaling Up Driven By The Vast Investment Needs In Green Technologies Issuers In The European Bank For Reconstruction And Development Ebrd Or The Bank Region Are Lagging Behind The Bank Is Therefore Establishing A Dedicated Green And Sustainability Bond Technical Cooperation Program The Tc Program To Accelerate The Rate Of Green And Sustainability Bond Issuances In The Ebrd Region That Are Aligned With Internationally Recognized Standards The Green Bond Principles And The Sustainability Bond Guidelnes Under The Administration Of Icma The Key Objectives Of The Tc Program Will Be To Assist Existing And Administration Of Icma The Key Objectives Of The Tc Program Will Be To Assist Existing And Potential Financial Institution Clients The Client Of The Ebrd In Identifying Performance Gaps That Need To Be Addressed Prior To Issuing A Green And Or Sustainability Bond And Addressing These Gaps Through The Provision Of The Targeted Technical Assistance Phase 1 Green Bond Readiness AssessmentThe Objective Of The Green Sustainability Bond Readiness Assessment Readinesss Assessment Is To Identify The Key Gaps In The Operation Of Selected Financial Institutions Fis That Need To Be Addressed In Order To Align Its Potential Issuance With The Green Bond Principles And Or The Sustainability Bond Guidelines As Well As With The Most Up To Date Market Trends And Green Investor Expectations This Analysis Will Be Undertaken Through I Review Of The Overall Sustainability Profile Of The Potential Issuer And Their Approach To Management Of Environmental Social And Climate Risks Associated With Their Operations Ii A Review Of The Fis Procedures Policies And Strategies Related To Both Green And Non Green Investments Iii A Review Of The Fis Portfolio And Processes For Assessment Selection Evaluation And Tracking Of Individual Projects Iv Review Of Internal Monitoring And Reporting Systems From The Perspective Of Earmarking Green Use Of Proceeds And Reporting On The Environmental Benefits Of Green Investments As A Result A Detailed Action Plan Will Be Prepared By The Consultant Which Includes Outlining New Processes As Well As Resources And Skills Required Together With Estimates Of The Associated Costs The Readiness Assessment Is Undertaken Through A Desktop Based Review And An Interview With The Client The Outputs Of This Activity Will Assist The Client To Identify Necessary Steps To Take Prior To A Potential Issuance And Will Assist The Ebrd In Defining The Scope Of Targeted Support To Be Provided To Potential Issuers As Part Of The Phase 2 Of The Tc Program The Assignment Phase 2 Action Plan Implementation SupportDedicated Tc Can Be Delivered To Target Specific Gaps Listed In The Action Plan Including But Not Limited To I Implementation Of Esg Safeguards And Screening Processes Ii Use Of Proceeds Tracking And Reporting Iii Qualitative And Or Quantitative Impact Reporting And Development Of Programme Specific Environmental Kpis And Iv Support Of An Issuers First Annual Green Bond The Support To Be Provided On A Slective Basis To Clients Depending On The Commitment To Implement The Full Action Plan Defined As Part Of The Readiness Assessment Phase 1 And The Clients Willingness To Conduct The Issuance In Alignment With The Green Bond Principles Subject To Market Conditions The Above Will Be Undertaken In The Context Of Green And Or Sustainability Bond Issuances Which Will Often Be Of Public Nature Therefore The Consultant Is Expected To Adhere To Prevailing Confidentiality And Material And Non Public Information Related Standards By Providing This New Tc Program The Ebrd Will Be Able To Assist Its Clients In I Reviewing Green And Or Sustainability Bond Issuance Opportunities Ii Identifying Key Gaps To Be Addressed Prior To Their Issuance And Iii Assist With Addressing These Gaps Through Targeted Technical Assistance To Individual Potential Issuers The Program Will Cover Ebrd Technical Support For Issuing Green And Or Sustainability Bonds By Financial Institutions In The Ebrd Region With The Portfolio Covering A Broad Range Of Green And Social Projects Including But Not Limited To Renewable Energy Energy Efficiency Green Residential And Non Residential Buildings Sustainable Transport Sustainable Water Supply Environmental Protection And Climate Change Adaptation The Overall Objective Is To Assist The Clients In The Preparation Issuance And Reporting Of The Green And Sustainability Bonds The Bank Wishes To Establish A Register Of Competent And Qualified Consultants Green Sustainability Board Register That Can Be Called Upon When Services For Specific Projects Assignments Are Requred The Register Will Be Non Exclusive Services Required The Main Aims Of The Tc Program Are To Stimulate The Green And Sustainability Bond Issuances From The Ebrd Region Assignments Conducted Under The Tc Program Will Include The Following Tasks Phase 1 Assessment Of Green Or Sustainability Bond Issuance Readiness Discuss With Relevant Departments Of The Potential Issuer The Following Key Areas Of The Issuers Operation And Potential Green Bond Issuance A Issuer Sustainability Profile Including But Not Limted To Review Of Sustainability Strategy Understanding Of The Role Of The Entity In Global Sustainability Initiatives Unpri Gri Tcfd Current Practice On Disclosure On Green And Non Green Aspects Of The Portfolio Approach To The Overall Environmental Social And Climate Risks Of The Green And Non Green Portfolio B Use Of Proceeds Status Of The Project Portfolio Evaluation Of The Green Assets In The Existing Portfolio And The Pipeline Providing Guidance On Environmental Performance Of Green Assets In The Green Bond Portfolio C Project Evaluation And Selection System Including Relevant Environmental Social And Climate Risk Assessment Procedures Overview Of Responsibilities Within The Organization For Project Evaluation And Selection D Management Of Proceeds Tracking Of Proceeds In The Internal Systems Review Of Internal It Systems And Their Capabilities To Track Additional Aspects Of Projects Related To Their Environmental Profile E Current Reporting Capability Of The Fi For Reporting On Green Use Of Proceeds F External Review Provision G Documentation And Envisaged Marketing Strategy Based On The Above Analysis The Consultant Will Compile An Action Plan Identifying Key Gaps In The Operations Of The Client To Be Addressed Prior To The Green Bond Issuance Taking Into Account Best Practice In The Current Green Bond Market Identify Potential Costs Expertise Required And Tentative Timeline For Implementation Of The Relevant Activities The Readiness Assessment Shall Be Undertaken Following The Most Up To Date Green Bond Principles And Sustainability Bond Guidelines Following A Readiness Assessment Checklist Guidance Of The Ebrd And Reflecting The Evolving Market Best Practice Phase 2 Technical Assistance Assist With Implementation Of Activities In Specific Areas Related To Green Bonds And Associated Internal Processes In Issuers Operations The Targeted Technical Assistance Will Be Delivered In The Areas Of A Issuer Sustainability Profile And Overall Esg Systems B Use Of ProceedsC Project Evaluation And Selection SystemD Management Of ProceedsE ReportingF Provide An External Review The Specific Activities Which May Be Covered Will Include But Not Be Limted To Assess The Status Of The Clients Portfolio Pipeline And Systems Vis A Vis Gbp And Sbg Alignment And Alignment With Green Performance Criteria Of Investors Such As The Ebrd Providing In Depth Technical Studies For Specific Use Of Proceeds Categories To Validate Adequate Expected Environmental Performance Support The Client In Developing Relevant Internal Systems And Procedures Capacity Building And Training Of Clients Professional Staff Support The Clients In Strengthening Their Corporate Governance E G Related To Their Sustainability Reporting Systems Esg Processes And Climate Risk Assessment Procedures Etc Consultant Profile Both Firms Consortia Of Firms And Individual Experts Are Eligible To Apply For Inclusion In The Ebrd Green And Sustainability Bond Register

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