Sustainable finance is critical for supporting African countries in addressing climate, environmental, and social challenges while advancing inclusive green economic growth. Despite growing global climate investment, Africa received only a small share of climate finance, highlighting the urgent need to mobilize and direct financial resources toward sustainable development priorities.A key step in scaling sustainable finance is establishing clear definitions of what constitutes sustainable economic activities and investments. A Sustainable Finance Taxonomy provides a standardized classification system that identifies economic activities and projects eligible as green, social, or sustainable based on defined environmental, climate, and social objectives. Such taxonomies help mobilize public and private capital, enhance transparency, reduce greenwashing risks, and support alignment with international commitments such as the Paris Agreement and the Sustainable Development Goals (SDGs).In Nigeria, the government has prioritized sustainable finance under its Integrated National Financing Framework (INFF), recognizing the need to strengthen sustainable investment standards and financial disclosures. While Nigeria has issued sovereign green bonds and developed green bond guidelines, a comprehensive sustainable finance taxonomy is needed to expand sustainable financing across sectors and financial instruments and to provide clearer technical criteria for eligible investments.In this context, the United Nations Development Programme (UNDP) is supporting the Federal Government of Nigeria in the development of a national Sustainable Finance Taxonomy aligned with national priorities and international best practices. The Climate Bonds Initiative (Climate Bonds) has been selected as the technical partner to provide technical assistance for this initiative. To support the implementation of this work, Climate Bonds seeks to recruit a qualified local consultant to contribute to the development of the Sustainable Finance Taxonomy.Purpose and ObjectivesThe Consultant is expected to provide support to the Head of Taxonomies with the delivery of the Laos green taxonomy development in collaboration with the UNDP.Scope of Services and Deliverables/OutputsThe tasks under this consultancy are outlined below as well as the number of days per task. The project will be conducted from 15/03/2026 to 31/08/2026 and will use up to 20 business days of the consultant, to be split into the outputs according to the below:Expected Outputs &amp; Number of Days The expected outputs below are to be led by Climate Bonds and the consultant is expected to provide support with the following activities: ·       Support the development of sectoral papers, including the refining of Technical Screening Criteria (TSC) for climate mitigation and adaptation across four priority sectors (up to 5 working days).·       Support the development of Do No Significant Harm (DNSH) criteria and Minimum Social Safeguards (MSS) (up to 2.5 working days).·       Facilitate coordination and discussions among Climate Bonds, UNDP, and national stakeholders involved in the taxonomy development process, with particular focus on governance arrangements (up to 5 working days).·       Provide support during Technical Working Group meetings and in-country missions, including preparation and stakeholder engagement activities (up to 5 working days).·       Provide support during public consultation processes, including preparation and stakeholder engagement activities (up to 2.5 working days).TOTAL: Up to 20 daysTimeframe and Milestones for expected Deliverables/outputsThe expected outputs below are to be led by Climate Bonds and the consultant is expected to provide support with the following:1. Develop and submit a first draft taxonomy (sectoral papers) based on the Inception report - Mid-March – May 20262. Conduct up to 4 Technical Working Group meetings for four priority sectors to finalize the criteria for both mitigation and adaptation objectives - April to June 20263. Conduct public consultation to gather feedback on Taxonomy draft - June-July 20264. Finalize the draft Taxonomy - July-August 2026RequirementsThe consultant should have the following skills and experience: ·       Relevant background in climate change and finance; ·       Knowledge of sustainable finance and policies in Nigeria and Africa region; ·       7/8 years of experience in working with climate finance and funding; ·       Strong written and analytical skills; ·       Fluency in English

The Climate Bonds Initiative is an international, investor-focused not-for-profit and the only organisation in the world working to mobilise the $100 trillion bond market for climate change solutions. 

Supported by a 50-member Advisory Panel, CBI has an international stakeholder base among institutional investors, NGOs and the finance sector.

The aim is to develop a large and liquid Green and Climate Bonds market that will help drive down the cost of capital for climate projects and improve access to lower-cost debt in emerging markets.

Local Consultant to support the Nigeria Sustainable Finance Taxonomy development

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Climate Bonds Initiative

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