REQUEST FOR EXPRESSIONS OF INTEREST
(CONSULTING SERVICES – INDIVIDUAL CONSULTANT SELECTION)
Uzbekistan
Institutional Capacity Building Project
Credit No.: IDA 6431-UZ
Assignment Title: Transformation consultant in sustainable development according to ESG principles.
Reference No.: UZASSETS-ESG-IC
The Ministry of Economy and finance of the Republic of Uzbekistan has received financing from the World Bank toward the cost of the Institutional Capacity Building Project and intends to apply part of the proceeds for consulting services for "UzAssets" JSC under the Ministry of Economy and finance of the Republic of Uzbekistan.
"UzAssets" JSC is committed to the transformation of state-owned enterprises (SOE) in Uzbekistan. This transformation is directed towards enhancing profitability, efficiency, and adherence to robust environmental, social, and governance (ESG) principles, thus improving their overall performance and investment attractiveness in the global market. Based on this, Ministry of Economy and finance seeks to involve Transformation consultant in sustainable development according to ESG principles.
The Ministry of Economy and finance of the Republic of Uzbekistan now invites eligible Individual Consultants (“Consultants”) to indicate their interest in providing the Services. Interested Consultants should provide information demonstrating that they have the required qualifications and relevant experience to perform the Services (reference to similar services, experience in similar assignments, availability, etc.) submitting directly to the piu_mof@mail.ru.
Qualification requirements for the Consultant:
- Extensive experience (minimum 10 years) in ESG transformation and sustainable development, corporate sector experience is advantageous.
- Advanced degree in Environmental Science, Social Sciences, Business Administration, or a related.
- Proven track record in leading sustainability projects, with a deep understanding of global ESG standards and reporting requirements.
- In-depth understanding of global good practices in asset management.
- Exceptional strategic, analytical, and communication skills.
- Exceptional leadership skills, capable of managing cross-functional teams and complex projects.
- Proficiency in English and Russian is essential.
The attention of interested Consultants is drawn to Section III of the World Bank’s “Procurement Regulations for IPF Borrowers” dated July 2016, revised in November 2017, August 2018 (“Procurement Regulations”), setting forth the World Bank’s policy on conflict of interest. In addition, please refer to the following specific information on conflict of interest related to this assignment: Consultants shall not be hired for any assignment that would be in conflict with their prior or current obligations to other clients, or that may place them in a position of being unable to carry out the assignment in the best interests of the Ministry of Economy and finance of the Republic of Uzbekistan.
Further information can be obtained at the address below during office hours from 9:00 a.m. to 18:00 p.m. Tashkent time.
Expressions of interest must be delivered in a written form in English or Russian languages to the address below (in person, or by mail, or by e-mail) by August 6, 2024.
Project Implementation Unit under the
Ministry of Economy and finance of the Republic of Uzbekistan
Attn: Sirojiddin Imanov, Manager of the Project
Uzbekistan, 100017, Tashkent city, 29, Istiklol St.
Tel: +998901741711
E-mail: piu_mof@mail.ru
TERMS OF REFERENCE
for Transformation consultant in sustainable development according to ESG principles
Background information
The Government of Uzbekistan (GoU) has set as one of its goals to significantly reduce the degree of state presence in the economy, by using privatization as one of the main tools for achieving this objective. The Uzbek economy is dominated by state presence across all sectors. State-owned enterprises (SOE) and enterprises with a predominant share of the state in the economy of Uzbekistan dominate and have a significant impact on the functioning of most sectors of the economy, including the extraction of natural resources, energy, manufacturing, telecommunications, and transport.
"UzAssets" JSC is committed to the transformation of state-owned enterprises (SOE) in Uzbekistan. This transformation is directed towards enhancing profitability, efficiency, and adherence to robust environmental, social, and governance (ESG) principles, thus improving their overall performance and investment attractiveness in the global market.
The development objectives (PDO) of Institutional Capacity Building Project for Uzbekistan are to strengthen public financial management (PFM) and enable the market operation of the corporate sector. This project has four components. 1) The first component, Improving PFM, aims to support improvements in areas fundamental to a functional PFM system that promotes achievement of public policy objectives, improved performance, and institutionalized accountability. 2) The second component, improving conditions for market operation of the corporate sector, aims to support the restructuring and rightsizing of the State-Owned Enterprise (SOE) sector in Uzbekistan. 3) The third component, Improving Support Mechanisms for Reforms, aims to provide support to the newly established Economic Council, key regulatory agencies and other public sector agencies expected to be identified as critical for implementing market reforms during project implementation. 4) The fourth component, Project management, aims to provide support to the overall implementation arrangements for the project.
The integration of Environmental, Social, and Governance (ESG) principles is critical for State-Owned Enterprises (SOEs) as they adapt to global sustainability demands. SOEs play a significant role in national economies and their alignment with ESG principles can drive substantial improvements in sustainable development across sectors. This strategic transformation is essential not only to comply with international ESG standards but also to foster innovation and operational excellence in sustainable practices within SOEs.
Objectives
The Consultant on Sustainable Development Transformation will:
- Lead the strategic integration of ESG standards across SOE operations, with explicit focus on both developing a comprehensive sustainability reporting framework in line with international standards and implementing strategies to improve sustainable operational practices across SOEs.
- Develop and implement comprehensive ESG frameworks that advance sustainability, social responsibility, and governance. Ensure these frameworks comprehensively cover all aspects of ESG, including clear governance mechanisms that are crucial for robust ESG integration.
- Ensure compliance with international ESG practices by adopting a sound framework for sustainability reporting, such as IFRS S1 and S2 (but not limited), which will be required for key strategic SOEs. Collaborate with the Ministry of Economy and Finance and relevant regulatory bodies to institutionalize these standards, providing auditors the basis to verify and assure ESG disclosures.
Scope of Work
The Consultant will:
- Be tasked with leading, managing, and overseeing the introduction, implementation, and management of a dynamic portfolio of ESG initiatives — currently over 50 but subject to increase — spread across various sectors[I] within SOEs, ensuring these initiatives are innovative, applicable, and measurable. These strategies will support the PDO's focus on enhancing public financial management by incorporating sustainable and responsible practices that align with market operations.
- Develop and implement ESG policies and practices that not only advance environmental stewardship and social responsibility within SOEs but also improve governance mechanisms, thereby contributing to the institutional capacity building objectives.
- Ensure that all ESG initiatives are designed to align with national sustainability goals and international compliance standards, thereby enhancing the overall performance and market competitiveness of SOEs.
- Work closely with the Ministry of Finance and other regulatory bodies to adopt international ESG reporting standards, ensuring that strategic SOEs comply and that auditors have a clear basis for providing assurance on ESG disclosures.
In addition to the above, the Consultant will:
- Conduct a thorough analysis of current ESG status within SOEs and identify key areas for improvement.
- Collaborate with senior management and operational teams to develop and implement strategies tailored to enhance ESG practices.
- Provide training and development programs for SOEs’ staff to ensure effective implementation of new processes and technologies.
- Foster a culture of continuous improvement within SOEs by encouraging innovative solutions and establishing robust feedback mechanisms for sustainability practices.
- Monitor and evaluate the impact of implemented ESG strategies, making necessary adjustments to ensure they deliver optimal sustainability outcomes.
- Develop and implement performance management systems to regularly assess and improve employee productivity and operational outcomes in SOEs.
- Ensure that all transformation activities align with the strategic goals of UzAssets and contribute to the long-term sustainability of the SOEs.
Deliverables
The consultant will deliver:
- ESG Strategic Plan: A comprehensive document outlining the roadmap for ESG integration across SOEs.
- ESG Compliance Framework and Reports: Development and implementation of guidelines and standards for environmental, social, and governance practices. Regular reports on the status and progress of ESG initiatives.
- Impact Assessment Reports: Detailed evaluations of the environmental and social impacts of SOEs, including recommendations for improvement.
- Training and Development Programs: Programs designed to enhance understanding and implementation of ESG principles among SOE staff.
- Quarterly and Annual Progress Reports: These reports will track the implementation of ESG strategies, detailing progress, and alignment with the PDO.
Qualifications
Required qualifications include:
- Extensive experience (minimum 10 years) in ESG transformation and sustainable development, corporate sector experience is advantageous.
- Advanced degree in Environmental Science, Social Sciences, Business Administration, or a related.
- Proven track record in leading sustainability projects, with a deep understanding of global ESG standards and reporting requirements.
- In-depth understanding of global good practices in asset management.
- Exceptional strategic, analytical, and communication skills.
- Exceptional leadership skills, capable of managing cross-functional teams and complex projects.
- Proficiency in English and Russian is essential.
Duration of the Contract, Location of Consultants and Reporting
- Duration: Time-based contract. 12 months with potential for renewal based on performance. The detailed remuneration package will be provided in a separate financial annex and is subject to negotiation with potential candidates.
- Location of Consultant: The Consultant must be based in Tashkent for the duration of the contract.
- Reporting: The Consultant will report directly to UzAssets and the Project Implementation Unit (PIU) Coordinator.
Resources Provided by UzAssets
UzAssets will provide:
- Adequate office space and office equipment.
- Access to relevant internal and external resources, data, and personnel.
- Support for engaging with stakeholders and executing strategic plans.
Annex 1
List of Sectors
|
No. |
Sectors |
Number of SOEs (SOBs) |
|
1 |
Mining |
5 |
|
2 |
Oil & Gas |
4 |
|
3 |
Electrical Energy |
4 |
|
4 |
Chemical Industry |
2 |
|
5 |
Transportation and Communications |
6 |
|
6 |
Automotive Industry |
1 |
|
7 |
Banking |
9 |
|
Total |
31 |
|
[I] List of Sectors are provided in the Annex 1.