Terms of Reference and Request for Proposal
Technical Lead Consultant to support delivery of
Decarbonisation Criteria Development for Agri- Food Value Chain Transition
Context
Climate Bonds is an investor-focused not-for-profit organization whose goal is to promote large-scale investments through green bonds and other debt instruments to accelerate a global transition to a low-carbon and climate-resilient economy. Activating the mainstream debt capital markets to finance and refinance climate-aligned projects and assets is critical to achieving international climate goals, and robust labelling of green bonds is a key requirement for mainstream participation. Trust in the green label and transparency to the underlying assets are essential for this market to reach scale but investor capacity to assess green credentials is limited. Therefore, Climate Bonds created its Standard amp; Certification Scheme, which aims to provide the green bond market with the trust and assurance that it needs to achieve scale. As of December 2023, around US$300bn worth of debt had been successfully certified against the Climate Bonds Standard (CBS).
The Climate Bonds Standard and associated Sector Criteria development and approval process is in line with the International Social and Environmental Accreditation and Labelling Alliance (ISEAL) standard. It involves an international consultative process in which a wide range of investors, issuers, corporates and technical experts from academia, international institutions and NGOs participate through Technical Working Groups (TWGs) and Industry Working Groups (IWGs). This process is supervised and approved by a Standards Board, which reports to Climate Bonds’ Governors, and whose members represent US$34 trillion of assets under management.[1]
The aim of the Climate Bonds Agri-food Systems Transition Programme is to expedite the flow of finance towards initiatives that support the shift to net-zero, resilient, and sustainable agricultural systems. By including value chain factors, the programme acknowledges the complexity of the agriculture sector and the importance of a comprehensive approach to achieve meaningful and lasting environmental benefits. As part of this programme, Climate Bonds is planning to:
- Expand its criteria to include the certification of entire companies and transition finance within the agriculture sector. This expansion will entail defining a transition path for the Agri food system as a whole, including production but also expanding to encompass the downstream value chain through to retailers, that aligns with the goals of net zero emissions and the Paris Accord and identifying companies that are actively facilitating this transition.
- Develop of a set of criteria focused on decarbonisation pathways and measures for the post farm gate value chain. By incorporating value chain analysis, the criteria will address the wider food system greenhouse gas emissions from storage, packaging, transportation, processing, and distribution. This approach ensures a more holistic view of sustainability, recognizing that the impact of agricultural products extends beyond the farm.
Scope of requirements for Technical Lead
Climate Bonds is seeking an experienced technical lead to support the delivery of these value chain criteria. The Technical Lead plays a pivotal role in the Working Groups, acting as the principal technical expert, aiding Climate Bonds with facilitation and coordination. While the TWG and IWG will provide robust and expert knowledge of the technical and practical aspects of Criteria development, in the form of regular meetings, the Technical Lead will perform research and convening activities to support these discussions, in conjunction with the Climate Bonds team. This will include drafting the Background Paper, Criteria Documents and PowerPoint presentations for Working Group discussions.
Working closely with the Climate Bonds team, the technical lead will be responsible for:
· Assessing the latest scientific literature to help determine measures and a pathway(s) that defines the Paris-aligned decarbonisation trajectory/ trajectories for Agri-Food Value Chain emissions.
· Identifying and evaluating existing guidance metrics, benchmarks, and/or pathways (for example, the SBTi FLAG framework that already exist for decarbonising agricultural value chains, and whether they can be leveraged or adopted as Climate Bonds sector Criteria.
· Support Climate Bonds to set boundaries of the Criteria i.e., where are most material emissions located, which sectors, commodities and actors are included and excluded.
· Identifying and evaluating the solutions (including technologies) for decarbonising the Agri Food Value Chain to ensure this aligns with the chosen pathway(s),
· Id