Terms of Reference (ToR) for Consultant for scoping study Caribbean CDRFI

Date: 22 June 2026 

Subject: Request for Proposal – Consultant for scoping study Caribbean CDRFI  

Frankfurt School of Finance & Management gGmbH, implementing the project “Global Shield Secretariat Transition”, invites you to submit a proposal for the delivery of services as described in the Terms of Reference (ToR) below.

Please submit your complete offer to opportunities@fs.de by 03 July 2026, 23:59 (CEST), quoting: “Request for Proposals_ Consultant for scoping Caribbean”

in the email subject.

Submissions must include:

• Accompanying email referencing this invitation
• Confirmation of eligibility (use Annex 1)
• Expert CVs (use Annex 2)
• Financial Offer (use Annex 3)
• Technical Offer (use Annex 4)

2.1 Background

Launched at COP27 by the Vulnerable Twenty (V20) Group and the Group of Seven (G7), the Global Shield against Climate Risks (Global Shield) was established to increase financial protection for vulnerable people and countries and to contribute to effectively responding to loss and damage from climate change. The Global Shield promotes an inclusive, gender-responsive, and demand-driven process, led by the governments of vulnerable countries. Within the initiative, the Global Shield Secretariat (GS Secretariat) serves all Global Shield Governance bodies. It facilitates knowledge management and tracks progress in achieving the objectives of the Global Shield against Climate Risks. It also enhances its visibility. The GS Secretariat has been hosted at Frankfurt School of Finance & Management (FS) since January 1, 2026.

In an effort to close financial protection gaps globally, the GS Secretariat has accumulated extensive experience implementing its In-Country Process (ICP) across 13 engagements globally, including country-specific approaches in Latin America, Africa, and Asia, and a regional model in the Pacific. Building on this experience, and with a Board mandate to expand engagement in the Caribbean, the Global Shield is now exploring how it can best contribute to further closing financial protection gaps in the region while avoiding duplication and maximizing complementarities with past, ongoing, and planned efforts.

The Caribbean region brings a unique set of characteristics and presents a distinctive operating environment that requires careful consideration of how Global Shield engagement should be structured. Key elements include: 

• A comparatively mature CDRFI ecosystem, with a broad range of active initiatives;
• Established regional institutions, governance mechanisms and collaboration structures with many years of work on CDRFI initiatives;
• Existing financial protection gap diagnostics, strategies, and financing mechanisms;
• Diverse linguistic, political, and socioeconomic contexts, and
• Distinct risk exposure and CDRFI readiness among countries.

A scoping study is therefore to be implemented to assess strategic entry points for a possible Global Shield engagement in the Caribbean region, with the objective of enhancing the delivery of pre-arranged financing. The study will identify opportunities to leverage existing regional institutions, mechanisms, initiatives, and partnerships, while ensuring complementarity with ongoing efforts and avoiding duplication.

Its findings will inform an effective, coordinated, and resource-efficient approach to strengthening financial protection and disaster risk financing across the region. The results and recommendations of the study will be presented to the Global Shield Board to support informed decision-making on the most suitable approach for the Global Shield’s engagement in the Caribbean and the potential modalities for implementation.

2.2 Objectives

The assignment is structured around two core objectives. First, to establish an evidentiary foundation by assessing the Caribbean CDRFI landscape and the potential role and added value of the Global Shield within the region. The second and main objective of the assignment is to develop and assess operational scenarios to guide the Global Shield’s engagement in the region while also examining the institutional arrangements that could support implementation. The assignment is expected to deliver strategic recommendations on the most suitable pathway for the Global Shield’s engagement in the Caribbean, providing an evidence-based foundation for decision-making on its future approach, partnerships, and implementation modalities in the region.

2.2.1 Objective 1: Assess the Caribbean CDRFI landscape and evaluate the strategic positioning, comparative advantage, and potential contribution of the Global Shield

The consultant(s) will conduct a targeted landscape assessment to establish the baseline against which Global Shield engagement can be evaluated. This assessment will inform the scenario development under Objective 2 and should be completed first.

Scope

The landscape assessment should cover:

• The regional and national CDRFI architecture, including key institutions, governance structures, and existing financing mechanisms;

• Past, ongoing, and planned initiatives of other stakeholders relevant to the Global Shield mandate, with particular attention to avoiding duplication;

• Existing CDRFI diagnostics, strategies, and knowledge products that could be leveraged in a future Global Shield process;

• Existing regional structures, partnerships, and coordination mechanisms;

• Analysis of the current landscape of support for strengthening financial protection against climate and disaster risks in Caribbean countries, including regional and country-level arrangements, country groupings, key financing channels, and the roles of major donors, institutions, and implementation partners; and

• Identify and assess priority gaps, unmet needs, and strategic opportunities in financial protection at both the regional and country levels, with a view to informing targeted and high-impact interventions.

Building on this baseline, the consultant(s) will outline the potential role and added value of the Global Shield within the Caribbean context. This includes:

• The value proposition, comparative advantage, and additionality of Global Shield engagement, including opportunities for complementarity with existing regional and national initiatives;

• Where Global Shield engagement could provide meaningful added value while avoiding duplication; and

• The potential contribution of the broader Global Shield ecosystem including the Secretariat, Coordination Hub, Financing Vehicles, technical partners, private sector actors, and opportunities for peer learning and South-South exchange to strengthening existing efforts in the region.

Deliverable

A thorough landscape assessment and additionality analysis covering the Caribbean CDRFI architecture, financial protection gaps, key actors and initiatives, and the potential value proposition of Global Shield engagement in the region. 

The landscape assessment should include a concise four-page Executive Summary highlighting the key findings, conclusions, and recommendations, as well as a comprehensive bibliography documenting all sources consulted and referenced.

2.2.2 Objective 2: Develop and assess implementation scenarios and institutional arrangements, and recommend a roadmap for Global Shield engagement 

The second and primary objective of this assignment is structured around three sequential analytical steps: i) scenario development, ii) institutional arrangement assessment, and iii) strategic recommendations, incl. roadmap. 

These steps are intentionally treated as distinct but complementary components of the analysis, with the scenarios defining the strategic scope and direction of engagement, and the institutional arrangements outlining the operational mechanisms required to enable effective implementation and delivery.

Step one - Development and assessment of Scenarios

The consultant(s) will develop and assess a set of at least three distinct operational scenarios through which the Global Shield could engage in the Caribbean region. Scenarios should reflect the diversity of the Caribbean context, including Official Development Assistance (ODA) and non-ODA eligibility considerations, country demand, and existing regional and sub-regional groupings.

Scenarios should be informed by lessons from Global Shield engagement in other regions, particularly the Pacific regional approach (will be shared upon contract signature with the successful bidder), as well as by the findings of the landscape assessment. Scenarios may include, but are not limited to:

• A full regional approach covering all Caribbean countries, including non-ODA eligible countries;

• An ODA-focused regional approach covering eligible countries only;

• A combined approach with a regional support delivery framework and selected country-level implementation activities; or

• Sub-regional or phased approaches based on country groupings.

Each scenario should be assessed against a consistent set of criteria, including:

• Feasibility and alignment with existing regional structures and initiatives;
• Coverage and inclusivity, including ODA and non-ODA eligibility implications;
• Country ownership and stakeholder burden;
• Efficiency and transaction costs; and
• Potential to deliver meaningful financial protection outcomes.

Step Two – Assess potential institutional and support arrangements for Global Shield engagement

In addition to the scenario analysis, the consultant(s) will assess the range of potential institutional and support arrangements that could underpin a future Global Shield Caribbean process. Global Shield’s in country process is a country led diagnostic process aimed at identifying the national and subnational priority financial protection gaps. The aim of this step is to conduct this assessment to aid the GS Secretariat in identifying the most effective support structure to carry out a Caribbean Approach.

This assessment should not be tied to a single scenario analysis; rather, it should examine the landscape of options and their respective advantages, limitations, and practical implications to the potential roll-out of the GS’ Caribbean approach. 

The assessment should consider:

• Regional and sub-regional bodies with relevant mandates, technical capacity, and established relationships with Caribbean governments (particularly, with Ministries of Finance);
• Governance and accountability mechanisms that could ensure country ownership and coordination; and
• The capacity and appetite of potential institutional partners to take on coordination, convening, or facilitation functions.

For each arrangement option, the consultant(s) should assess advantages, limitations, and practical considerations, including implications for country ownership, efficiency, and implementation feasibility.

Step Three – Strategic recommendation and roadmap

Building on the scenario analysis and assessment of institutional arrangements, the consultant(s) will develop strategic recommendations and roadmap for the most effective and impactful pathway for Global Shield engagement in the Caribbean, taking into account regional priorities, comparative advantages, implementation feasibility, and opportunities to maximize complementarity with existing initiatives and partnerships. 

The recommendation should synthesize the findings from both analytical streams, identifying the most strategically viable and impactful approach for Global Shield engagement, aligned with regional needs, institutional capacities, and opportunities for effective partnership and implementation. It should also include a practical roadmap outlining key actions, milestones, partnerships, governance considerations, and sequencing required to operationalize the recommended approach.

Deliverable

A strategic options and recommendations report comprising: (i) a comparative assessment of potential engagement scenarios for the Global Shield in the Caribbean; (ii) a stand-alone evaluation of institutional, governance, and support arrangement options to enable implementation; and (iii) a recommended engagement pathway, supported by a clear strategic rationale and an implementation roadmap outlining key actions, partnerships, and sequencing considerations. 

The report should include a concise Executive Summary designed to support strategic decision-making, as well as a list of stakeholders consulted and a comprehensive bibliography of sources reviewed and referenced.

2.3  Proposed Deliverables

2.3.1 Inception Report

Sets out the consultant's proposed methodology, workplan, stakeholder engagement plan, and analytical framework. The inception report should also include an initial stakeholder mapping and propose an approach for assessing country demand. To be approved by GS Secretariat before substantive work commences. To be delivered two weeks after contract signature (anticipated for end June 2026).

2.3.2 Draft Scoping and Operationalization Study

The substantive study report, structured around the two objectives of the assignment. Contents should include: Caribbean CDRFI landscape and context; Global Shield value proposition and additionality assessment; operational scenarios and assessment; institutional and support arrangement options and assessment; and recommended engagement pathway. 

Draft to be submitted to the GS Secretariat for review and feedback by 14^th of August 2026. 

2.3.3 Final Scoping and Operationalization study

The revised and finalised study incorporating the feedback on the draft received submitted by 31^st of August 2026.

2.4 Duration and Location 

Duration: the assignment is anticipated to start end June 2026 and the final study has to be submitted by end August 2026.

Location: remotely with travels to the Caribbean region

2.5 Reporting and Supervision 

Reports to: Global Shield Director and/or Senior Advisor LAC region

Progress reporting frequency: bi-weekly progress calls are foreseen

3.1 Team Lead / Senior International Expert (Level 1)

The Team Lead would be responsible for overall methodology, stakeholder engagement strategy, quality assurance, synthesis of findings, development of operational scenarios, and formulation of final recommendations.

Suggested profile:

• 10–15+ years of experience in climate and disaster risk finance and insurance (CDRFI), climate finance, disaster risk management, or related fields. 

• Demonstrated experience working with Caribbean governments and regional institutions. 

• Strong understanding of sovereign risk financing, financial protection, climate adaptation finance, and institutional coordination mechanisms. 

• Experience working with multilateral development banks, UN agencies, regional organizations, or international climate initiatives. 

• Proven experience leading strategic assessments, regional studies, scoping exercises or programme design processes. 

• Demonstrated track record of authoring and delivering high-quality analytical reports, landscape assessments, feasibility studies, or similar strategic studies that have informed policy, institutional, or investment decisions. 

• Excellent analytical, stakeholder engagement, and report-writing skills, including the ability to synthesize complex information into actionable recommendations for senior decision-makers.

• Familiarity with Global Shield objectives and approaches would be an advantage. 

Primary role:

• Lead the assignment and stakeholder engagement process. 
• Develop and oversee the analytical framework and methodology. 
• Conduct high-level consultations. 
• Lead development of operational scenarios and recommendations. 
• Present findings to the GS Secretariat and the initiative’s core stakeholders

Where multiple experts are required for the successful implementation of the assignment, please submit the CV of each proposed expert and ensure that their respective inputs and costs are appropriately reflected in the budget.

3.2 Curriculum Vitae (CV) 

The applicant needs to provide the CV(s) of the expers forseen to provide the services. The CV must cover:

• Full name and contact details
• Education and professional qualifications
• Detailed employment history (company/role/dates)
• Relevant assignments and outputs (with client references: name, email addresses or phone number)
• Language skills and availability
• At least two professional references (name, position, contact)

(CVs shall be submitted using the format as in Annex 2)

4.1 Technical Proposal 

The technical proposal should contain:

• Understanding of the assignment & approach/methodology
• Deliverable descriptions and quality assurance approach
• CV(s) of team members

Use Annex 4 as template

4.2 Financial Proposal

Must include:

• Itemised cost breakdown (unit price, quantity, unit description)
• Subtotals per cost category (labour, materials, travel, other)
• VAT shown separately (if applicable)
• Currency: EUR
• Offer validity: Minimum 30 calendar days

Use Financial Proposal Template as in Annex 3

• Submit electronic copies to: opportunities@fs.de
• Submission deadline (date/time CET): 03 July 2026, 6pm (CEST)
• Clarification requests: contact opportunities@fs.de.  Any questions on the ToR must be submitted 2 business days before the end of the deadline.

5.1 Evaluation Criteria & Weighting 

Submissions will be evaluated in consideration of the following evaluation criteria:

Evaluation Criteria – total 70 points:

• Experience and qualifications of the expert to deliver the work. This part of the evaluation will be based on the CV(s) submitted [25 points]
• Applicants should have experience in comparable assignments or outputs [10 points]
• Adequacy of approach and methodology ensuring high quality outputs [20 points]
• Timeline to deliver the objectives of the assignment based on the deadlines provided in this document [10 points]
• Experience working in the development sector in the area of CDRFI [5 points]