Climate Finance – Renewable Energy Research Analyst

The Flood Impacts, Carbon Pricing, and Ecosystem Sustainability (FINCAPES) project is a collaborative, gender-responsive initiative funded by Global Affairs Canada. Over a 5.5-year period, jointly undertaken between institutional partners in Indonesia and the University of Waterloo’s Faculty of Mathematics and Faculty of Environment, the project supports Indonesia in adapting to climate change, mitigating its impacts, and conserving biodiversity in a socially and economically sustainable manner.

One of the FINCAPES Project components is designed to support Indonesia in addressing the increasing challenges and opportunities brought about by climate change, with a particular focus on climate finance. Under this component, FINCAPES is collaborating with the Purnomo Yusgiantoro Center (PYC) to establish and operationalize a Center of Excellence for Climate Finance Policy, Research, and Training. This center strives to play a vital role in overcoming the financial challenges of climate action in Indonesia, particularly in achieving the country’s energy transition targets. Through the development of innovative financial mechanisms,  capacity  building,  research,  and  policy advocacy,  the  collaboration seeks  to  empower communities, governments, policymakers, researchers, and industry stakeholders to drive the energy transition forward.

The “Climate Finance for Geothermal Renewable Geothermal Energy” research project is being undertaken by RECLICKS to provide data-driven analysis and recommendations to encourage further adoption of geothermal renewable energy (RE) in Indonesia.

Project research will utilize Indonesia’s existing Nilai Ekonomi Karbon (NEK) (Carbon Economic Value) model, as well as related mathematical models and methods, to assess financial barriers to utlization of geothermal energy in Indonesia and policy and financial tools to address these barriers. 

Indonesia’s vast geothermal potential (40% of global reserves) offers a low-emission pathway to net-zero greenhouse gas emissions by 2060 and a 44% renewable share by 2030 under the Just Energy Transition Partnership (JETP). However, structural barriers—such as high exploration costs (USD 4.1 million/MW) and relegation of geothermal credits to low-value voluntary markets—hinder scalability. The research will advance policy reforms, including hybrid mandates integrating geothermal Sertifikat Pengurangan Emisi (SPEs) into Indonesia’s mandatory Emission Trading Scheme (ETS).

As a Climate Finance-Renewable Energy Research Analyst, you will support the Lead Researcher and research team in database cleaning and manipulation, application and customization of existing mathematical models for assessing energy and emissions related to geothermal renewable energy, and assessment of alternative scenarios for incorporation of geothermal RE in Indonesia’s electrical power system.

This role provides a unique opportunity to contribute to impactful work that aligns with global efforts to tackle climate change, enhance environmental sustainability, and promote social equity. You will be part of a dynamic, multi-stakeholder project that directly supports application of mathematical expertise and tools to further adoption of renewable energy at scale and address climate, health and economic policy issues.

1. Assist in Methodology Development: Support the development and use of the project’s research plan and associated methodologies (e.g., identification of models and model parameters, requirements for quantitative analysis, alternative approaches to meeting the research objectives).
2. Data Collection: Assist in collecting and cleaning data sets (data mining). 
3. Data Analysis: Conduct and/or assist in the analysis of collected data.
4. Report Preparation: Contribute to the identification and development of a Briefing Paper for government and financial sector action, with associated analysis and communications materials. Ensure that the Briefing Paper and other reporting products well-structured, data-driven, and clearly communicate findings and recommendation.
5. Research Process Assessment: Prepare an end-of-assignment assessment of the research process, including recommendations for refinement and application for other energy transition initiatives.

In this position, you will gain hands-on experience in application of economic, carbon emission, and financial (business-case) models to inform government and business decisions within a collaborative, multi-stakeholder project, participate in a project that supports Indonesia’s climate change mitigation goals and global climate finance efforts.

Education: 

Minimum: Currently pursuing a master’s degree in Environmental Science, Economics, Mathematics, or related field.

Required: 

• Knowledge of or experience in economic modeling (e.g., CGE frameworks), policy analysis, or mobilizing finance for adaptation/mitigation
• Familiarity and experience with application of mathematical modelling and  tools beyond theory (e.g., business case studies, cost analysis of policy options, development of alternative future scenarios).
• Interest in climate finance and climate policy.
• Strong analytical skills, with the ability to manage and interpret data.
• Ability to work both independently and as part of a team.
• Good communication skills both written and verbal.
• Proactive and willing to learn.

Nice-to-have: 

• Experience in economic modeling (e.g., CGE frameworks), policy analysis, and mobilizing finance for adaptation/mitigation (e.g., GCF, JETP projects).
• Proficiency with data mining, mathematics, and statistical analysis
• Experience in pattern recognition and predictive modeling
• Experience with Tableau, SQL, and programming languages (ex: Java/Python, SAS)
• Good communication skills in Bahasa Indonesia.
• Familiar with or have experience in conducting research in Indonesia.
• Interested in and international cooperation.
• Experience in working in a multi-cultural environment.

Compensation:

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Benefit:

• The project provides round-trip economy airfare from Toronto, Canada, to Jakarta, Indonesia.
• Accommodation near the FINCAPES and RECLICKS offices is covered.
• IPB University (as a partner in the FINCAPES project) will register the student as an exchange student, and the cost of the student visa will be covered if needed.
• For field or travel assignments, the project fully covers transportation, accommodation, and per diem expenses in accordance with its policy.

We welcome dynamic and creative students who wish to contribute to tackling climate change and sustainability issues through climate finance and adoption of renewable energy. 

For more information about the FINCAPES Project, please visit: https://fincapesproject.com/