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World could face record temperatures in 2023 as El Nino returns

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(Reuters) – The world could breach a new average temperature record in 2023 or 2024, fuelled by climate change and the anticipated return of the El Nino weather phenomenon, climate scientists say.

Climate models suggest that after three years of the La Nina weather pattern in the Pacific Ocean, which generally lowers global temperatures slightly, the world will experience a return to El Nino, the warmer counterpart, later this year.

During El Nino, winds blowing west along the equator slow down, and warm water is pushed east, creating warmer surface ocean temperatures.

“El Nino is normally associated with record breaking temperatures at the global level. Whether this will happen in 2023 or 2024 is not yet known, but it is, I think, more likely than not,” said Carlo Buontempo, director of the EU’s Copernicus Climate Change Service.

Climate models suggest a return to El Nino conditions in the late boreal summer, and the possibility of a strong El Nino developing towards the end of the year, Buontempo said.

The world’s hottest year on record so far was 2016, coinciding with a strong El Nino – although climate change has fuelled extreme temperatures even in years without the phenomenon.

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The last eight years were the world’s eight hottest on record – reflecting the longer-term warming trend driven by greenhouse gas emissions.

Friederike Otto, senior lecturer at Imperial College London’s Grantham Institute, said El Nino-fuelled temperatures could worsen the climate change impacts countries are already experiencing – including severe heatwaves, drought and wildfires.

“If El Niño does develop, there is a good chance 2023 will be even hotter than 2016 – considering the world has continued to warm as humans continue to burn fossil fuels,” Otto said.

EU Copernicus scientists published a report on Thursday assessing the climate extremes the world experienced last year, its fifth-warmest year on record.

Europe experienced its hottest summer on record in 2022, while climate change-fuelled extreme rain caused disastrous flooding in Pakistan, and in February, Antarctic sea ice levels hit a record low.

The world’s average global temperature is now 1.2C higher than in pre-industrial times, Copernicus said.

Despite most of the world’s major emitters pledging to eventually slash their net emissions to zero, global CO2 emissions last year continued to rise.

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REQUEST FOR EXPRESSIONS OF INTEREST

(CONSULTING SERVICES – INDIVIDUAL SELECTION)

 

OECS MSME Guarantee Facility Project

Loan No.: IDA-62670, IDA-62660, IDA-62640, IBRD-88830, IDA-62650

Assignment Title: Senior Operating Officer (SOO)

Reference No. KN-ECPCGC-207852-CS-INDV

 

The Governments of Antigua and Barbuda, Commonwealth of Dominica, Grenada, St. Lucia and St. Vincent and the Grenadines have received financing in the amount of US$10 million equivalent from the World Bank towards the cost of establishing a partial credit guarantee scheme, and they intend to apply part of the proceeds to payments for goods, and consulting services to be procured under this project. 

The consultant will serve as the “Senior Operating Officer (SOO)” for the ECPCGC and should possess extensive knowledge of MSME lending with some direct experience lending to Micro, small and medium-sized businesses, knowledge of the internal control processes necessary for a lending operation and the ability to design and implement risk mitigation procedures. The ideal candidate should possess an Undergraduate Degree from a reputable college or university, preferably in Business, Accounting, Banking or related field, with a minimum of 5 years’ experience in lending, inclusive of MSME lending. The initial employment period will be for two years on a contractual basis. Renewal of the contract will be subject to a performance evaluation at the end of the contractual period. The assignment is expected to begin on September 30th, 2021.  The consultant will report directly to the Chief Executive Officer of the ECPCGC.

The detailed Terms of Reference (TOR) for the assignment can be viewed by following the attached link below. 

 

https://bit.ly/3iVannm

 

The Eastern Caribbean Partial Credit Guarantee Corporation (ECPCGC) now invites eligible “Consultants” to indicate their interest in providing the Services. Interested Consultants should provide information demonstrating that they have:

  • An Undergraduate Degree from a reputable college or university, preferably in Business, Finance, Banking or related field; and
  • Minimum of 5 years’ experience in MSME lending. Applicants should also have:
  • The ability to design and implement risk management procedures 
  • Extensive knowledge of MSME lending with some direct experience lending to small and medium-sized businesses
  • Extensive knowledge of MSME banking operations
  • Knowledge of the internal controls necessary for a lending operation and the ability to design and implement risk management procedures
  • Experience developing and presenting information in public, including responding to questions in real-time
  • Experience lending to MSMEs located in the ECCU
  • Knowledge of marketing and communicating with the MSME sector
  • Ability to draft procedures to be used in a lending operation
  • Familiarity with the mechanics of a loan guarantee program
  • Exceptional written, oral, interpersonal, and presentation skills, and
  • Proficiency in the use of Microsoft Office suite.

The attention of interested Individual Consultants is drawn to Section III, Paragraphs 3.14, 3.16, and 3.17 of the World Bank’s Procurement Regulations for IPF Borrowers July 2016, [revised November 2017] (“Procurement Regulations”), setting forth the World Bank’s policy on conflict of interest. A Consultant will be selected in accordance with the Approved Selection Method for Individual Consultants set out in the clause 7.34 of the World Bank Procurement Regulations for IPF Borrowers. 

 

Further information can be obtained at the address below during office hours 0800 to 1700 hours:

Eastern Caribbean Partial Credit Guarantee Corporation

Brid Rock, Basseterre,

St. Kitts.

Expressions of interest must be delivered in a written form by e-mail by August 11th, 2021, to [email protected]

 

For further information, please contact:

Carmen Gomez-Trigg                                                            Bernard Thomas

Chief Executive Officer                                                          Chief Financial Officer

Tel: 868-620-8144                                                                  Tel: 869-765-2385

Email: [email protected]                                          [email protected]