Call for tenders Romania’s roadmap for a greener financial system

The deadline for submitting project offers is November 13, 2022.


The UK Embassy in Bucharest is calling for project proposals to produce a report (White Paper) on sustainable finance in Romania. The report must:

  • analyze the current financial market
  • inform about the challenges related to the management of climate-related financial risks
  • highlight potential areas for reform and further policy design

The report will inform the debate at the Embassy Conference on Sustainable Finance, to be held in the first quarter of 2023.

This project is part of a wider portfolio of projects across Europe that aim to advance UK expertise in green finance and support the international transition to a net zero financial system. Overall, our regional effort calls for raising awareness of greenwashing practices, advancing the sovereign green bond regulatory framework, and ultimately building industry-wide capacity.

Complementing other regional activities, this white paper will help inform UK experts on specific areas of cooperation and sharing of international best practice in Romania.


The White Paper aims to:

  • carry out a market analysis of the financial sector in Romania

  • describe industry challenges (e.g. lack of standardized criteria, methodological challenges, data availability, lack of capacity and human resources) of local commercial banks, pension funds, insurers, mutual funds investment and non-banking financial institutions, to meet requirements for the transition to a net zero financial system (e.g. regulation, financial disclosure, corporate governance)

  • identify what the Romanian financial services market needs in terms of international best practice and how UK expertise can help meet those needs

It aims to foster transparency and establish a common understanding between market players and policy makers.


Adapted to the national context of Romania, the White Paper (which should not exceed 20 pages) aims to:

  • identify the main drivers of sustainable investing and determine the risks that market players face due to environmental and social trends in Romania;

  • inform about UK best practice in measuring and managing climate-related risks (physical risks and net zero transition risks)

  • provide key recommendations to policy makers on how to mitigate greenwashing practices

  • define common practices and recommendations on strengthening corporate governance principles

This list is not exhaustive and the British Embassy remains open to other suggestions that support the realization of the project.

Work’s extent

The target audience for the white paper will be policymakers, regulators, representatives of banks and listed companies, asset managers, insurers, investment analysts, risk management specialists, academics.

Project approach

Bidders must submit a project proposal which will be approved by the British Embassy in Bucharest and will form the basis for project planning. The proposal should outline how the Implementing Partner will carry out activities to support the objectives stated above with an implementation plan and activity-based budget.

How to bid

Our process will consist of a complete one-step submission proposal.

Tenders must be written in English. You will need to complete and submit the following documents:

Send these documents by e-mail to

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Don F. Davis