Expression of Interest For Climate Risk Tools Developer For Africa Region - Climate Finance Unit

Expression of Interest are invited for Climate Risk Tools Developer for Africa Region - Climate Finance Unit IFCs Climate Finance (CF) Program, a key initiative of the Financial Institutions Group (FIG), is designed to support financial intermediary lending to clean and resource-efficient projects, as well as Climate Risk investments in emerging markets. The primary objective of the CF program is to bolster FIG climate investments and assist financial institutions in Africa in integrating climate finance into their business models while considering the impacts of Climate Risk. By integrating climate risk management into their operations, financial institutions can enhance their resilience to climate-related impacts. This leads to more informed decision-making, better risk assessment, and improved financial stability. The ripple effects include increased investor confidence, more sustainable business practices, and a stronger emphasis on long-term planning. As financial institutions become more adept at managing climate risks, they can drive broader economic stability, support sustainable development, and contribute to the global effort to combat climate change. This holistic approach not only safeguards the financial sector but also promotes environmental stewardship and social well-being. To further this mission, IFC is seeking an experienced short-term consultant/firm with professional expertise in climate risk management especially in the financial services sector. The consultant/firm will support the creation of a toolkit for climate risk management and disclosure, to enhance the capacity of Financial Institutions (FIs) in the Africa Region to effectively manage and disclose climate risks II: OBJECTIVES & SCOPE OF WORK The consultant/firm will be expected to develop Climate Risk Management toolkit for commercial banks to enable them to assess, manage, and disclose their climate-related risks and opportunities. The toolkit should include guidance, related frameworks, and metrics for banks to integrate climate considerations into their business decisions and activities. The toolkit will cover the following aspects in alignment with the programs broad objective of strengthening participating banks Climate risk Management practices: 1. Proposed Overarching Phased Approach: to guide banks on the best way to implement climate risk management over multiple years and in line with IFCs Climate Risk Competency Framework for Banks. 2. Guidance and Frameworks: for integrating Climate risk Management into existing risk management frameworks 3. Metrics and Measurement: Tool for conducting scenario analysis for assessment of potential financial impact of different climate scenarios 4. Risk Identification and Assessment: for the identification and assessment of both physical and transition risks of Climate change 5.Disclosure and Reporting: Framework for disclosure of climate-related financial risks, in compliance with reporting recommendations/requirements (such as TCFDs), best practices, etc. Tender Link : https://wbgeprocure-rfxnow.worldbank.org/rfxnow/public/advertisement/5241/view.html

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