UNEP Finance Initiative (UNEP FI) – Senior Policy Consultant for Chilean Taxonomy Implementation

UNEP FI requires the Senior Policy Consultant for the Chilean Taxonomy Implementation (Project Lead) to lead this technical guidance and to work in tandem with subject matter local expert (Sustainable Finance Regulation Expert for Chilean Taxonomy), and key stakeholders to fulfill the sustainable finance taxonomy project for Chile, which includes the following phases and objectives:

Phase I: Preparing the Financial (Banking) Sector for the Implementation of the Chilean Taxonomy Testing, piloting, and evaluating the application of the Chilean Taxonomy in the portfolios and processes of banking institutions. Objective: A crucial milestone in the development of the Chilean Taxonomy is the implementation of a pilot phase before a full roll-out takes place. The overall goal of this phase is to test, pilot, and evaluate the practical application of the Taxonomy in the financial sector, with a focus on the banking sector. The pilot phase will enhance market readiness and strengthen capacities within the banking sector ahead of its mandatory implementation.

Phase II: Developing a Roadmap for the Regulatory Adoption of the Chilean Taxonomy to Ensure Its Implementation in the Banking Sector Objective: For the Chilean Taxonomy to achieve its full potential, it is essential to link it with other components of the sustainable finance policy ecosystem—for example, a disclosure or labeling regime, whether for corporate financial disclosures, financial product disclosures, or both. In this regard, during the second phase, a specific roadmap will be developed to move toward a binding requirement for the Chilean Taxonomy, ensuring its proper implementation and alignment with local needs.

Both phases must be carried out in coordination with financial regulators, specifically the Financial Market Commission (Comisión para el Mercado Financiero) and the Superintendency of Pensions (Superintendencia de Pensiones). The consultant to be hired must be a highly specialized expert who combines a solid background in the implementation of the European Union Taxonomy in the banking sector with a deep understanding of sustainable finance. The role is crucial for leading phase I of the project, which is centered on the pilot program, with the technical support on the ground of the national expert (Sustainable Finance Regulation Expert for Chilean Taxonomy) and for providing essential support and expertise to the Sustainable Finance Regulation Expert for Chilean Taxonomy in developing a national implementation roadmap (Phase II).