Unep Finance Initiative

Result of Service
- Through the information materials on Plastics and Finance the roles and needs of the finance sector to support the system change required to transition towards a circular plastic economy and prevent and reduce plastic pollution will be better understood and described, and will constructively contribute to the development process of the future plastic instrument, as well as to developing awareness and readiness of the finance sector to take action to tackle the issue of plastic pollution, especially UNEP FI’s membership community. Through the sectoral briefs on circular economy financing MDBs and private financial institutions will be better equipped to identify circular solutions and opportunities across the value chain in certain high impact sectors, and to put in place de-risking mechanisms and solutions via blended finance to increase mobilisation of private capital. Collaboration between MDBs and private financial institutions on circular economy financing will be enhanced.
- Work Location
- Working Remotely
- Expected duration
- 6 months**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 UNEP’s 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. Per the IPBES Global Assessment (2019), pollution is one of the major drivers of biodiversity loss, which is an important factor in climate change. The Kunming-Montreal Global Biodiversity Framework adopted in December 2022 includes a target to “Reduce pollution risks and the negative impact of pollution from all sources, by 2030, to levels that are not harmful to biodiversity and ecosystem functions and services, considering cumulative effects, including: ( ) preventing, reducing, and working towards eliminating plastic pollution”. At UN Environment Assembly (UNEA 5.2) held in March 2022, representatives of 175 nations endorsed a resolution to end plastic pollution. The resolution addresses the full lifecycle of plastic, including its production, design and disposal. The resolution established an Intergovernmental Negotiating Committee (INC), which began its work in 2022 with the ambition of agreeing an international legally binding instrument, and which hold five INC meetings and is expected to hold the second segment of the fifth INC meeting (INC 5.2) in 2025. UNEP FI convened a Finance Leadership Group on Plastics, a core group of banks and insurers, with the objective to support the development process of the future plastic instrument and to build readiness in the finance sector to take action on preventing and reducing plastic pollution. In order to inform the finance community on the topic of plastic pollution and support the development process of the future plastic instrument, information materials on Plastics and Finance will be developed, consisting in awareness raising sessions and a plastic action guide for financial institutions. UNEP FI will also work in enhancing collaboration between multilateral development banks (MDBs) and private financial institutions by developing sectoral briefings and workshops in select high impact sectors to identify circular solutions and opportunities across the value chain, and blended de-risking mechanisms and solutions via blended finance to increase mobilisation of private capital. UNEP FI currently does not have the internal capacity to develop this work, hence outside expertise is required. In close collaboration with the Pollution and Circular Economy team, the consultant will contribute to t