Local Consultant - Sri Lanka Sustainable Finance Taxonomy

Background:

Sri Lanka is highly vulnerable to the impacts of climate change due to its geographic location, dependence on climate-sensitive sectors such as agriculture, fisheries, and tourism, and increasing exposure to extreme weather events. In recent years, the country has experienced more frequent droughts, floods, and landslides, resulting in significant economic losses, disrupted livelihoods, and growing pressure on critical infrastructure and natural resources.

Recognising these challenges, the Government of Sri Lanka has committed to advancing climate resilience and pursuing a low-carbon development pathway. Mobilising green and sustainable finance has therefore become a national priority to support the transition towards renewable energy, climate-resilient infrastructure, and sustainable land-use practices. However, the domestic green finance market remains at an early stage of development, requiring enhanced institutional capacity, stronger policy frameworks, and improved coordination among key stakeholders.

The Climate Bonds Initiative (Climate Bonds) is an international, investor-focused not-for-profit organisation dedicated to mobilising global capital for climate change solutions. Its mission is to help reduce the cost of capital for large-scale climate and infrastructure projects and to support governments seeking to access capital markets to meet climate and greenhouse gas (GHG) emission reduction goals.

Climate Bonds has extensive experience in taxonomy development at both regional and national levels, including the development of the EU Taxonomy and Common Ground Taxonomy (CGT – Phases I & II), as well as national taxonomies in countries such as Sri Lanka (Phase I), China, Colombia, Mexico, Chile, Thailand (Phases I & II), Singapore, Malaysia, Australia, and the ongoing development of the Indian Taxonomy.

Building on this experience, Climate Bonds will support the Central Bank of Sri Lanka (CBSL) in updating the country’s Green Finance Taxonomy (issued in 2022). This update aims to expand the taxonomy’s coverage beyond green sectors to include social and transition activities, ensuring alignment with international best practices and Sri Lanka’s sustainable development priorities.

To facilitate this process, Climate Bonds is seeking to engage a qualified local consultant (“the Consultant”) with relevant expertise to provide technical support and contextual insights for the taxonomy update.

Purpose and Objectives:

The Consultant is expected to provide support to the Head of Taxonomies with the delivery of the Sri Lanka green taxonomy development in collaboration with IFC (International Finance Corporation).

Scope of Services and Deliverables/Outputs:

The project will be conducted from 15/11/2025 to 30/06/2026 and will use up to 10 business days of the consultant, to be split into the outputs according to the below:

Expected Outputs & 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 the background research report by conducting desk research, reviewing Sri Lanka’s climate policies and development strategies, and providing data and analysis on the sectors covered in the existing taxonomy. (Up to 4 working days)
• Contribute to the development of sectoral papers for the two priority sectors identified for inclusion in the updated taxonomy by providing sector-specific data, policy insights, and analysis of relevant national documents. (Up to 4 working days)
• Assist in missions/public consultations by supporting Climate Bonds during mission if needed, the organisation and documentation of two consultation sessions, including preparation and follow-up activities. (Up to 2 working days)

TOTAL: Up to 10 days

Requirements

· Knowledge of sustainable finance and policies in Sri Lanka

· 7/8 years of experience in working with climate finance and funding;

· Relevant background in taxonomy will be an advantage;

· Strong written and analytical skills;

· Familiarity with Sri Lanka’s environmental, social, and labor regulations is highly beneficial.

· Fluency in English