Empowering Mongolia’s Green Future: Advancing Transition Finance for Sustainable Development
Mongolia is experiencing severe climate change impacts, threatening its environment, economy, and cultural heritage. As a large landlocked country, it faces risks from desertification, rising temperatures, and extreme weather. Transitioning to a sustainable, green economy is crucial.
The financial sector in Mongolia is central to this transition, playing a key role in mobilizing capital for green projects, innovating financial products, and promoting sustainable practices. Initiatives include developing green financial products and integrating climate risks into financial decision-making. The Asian Development Bank (ADB) has been a major supporter, providing assistance with economic reform, infrastructure, sectoral support, and climate action.
An assessment by ADB highlighted progress and challenges in Mongolia's financial sector. While the banking sector is evolving with increased transparency, there is a growing capital market and expansion in green finance. However, the sector faces issues like inadequate disclosure standards and a limited institutional investor base.
On 21-22 August 2024, ADB jointly organized a seminar with the Bank of Mongolia to discuss strategic action plans such as enhancing regulatory frameworks, fostering market development for green products, incentivizing low-carbon initiatives, and aligning with international disclosure standards as key priorities to realize Mongolia's vision for a sustainable future.
Date | Session / Activity | Presentation Material | Speaker(s) |
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21 Aug 2024 | Climate Change in Mongolia: Challenges, Impacts, and Pathways to Resilience |
Mongolia’s Financial Landscape and Climate Actions This session presents the results of the diagnostic study conducted with technical assistance, including Mongolia’s current financiallandscape, its issues... |
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21 Aug 2024 | Financing Mongolia’s Green Transition: What has been done so far? |
Gobi’s Experience in Sustainability-link Loans Transition finance in Mongolia focuses on supporting the country's shift towards more sustainable economic practices and low-carbontechnologies. This ... |
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21 Aug 2024 | Financing Mongolia’s Green Transition: Strategies for Sustainable Development |
Greening Credit Guarantees — Learning Experience from Korea Credit Guarantee Fund This session focuses on strategies designed to support the shift towards a more sustainable and low-carbon economy in Mongolia. |
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21 Aug 2024 | Financing Mongolia’s Green Transition: Strategies for Sustainable Development |
Scaling up Transition Finance This session focuses on strategies to support the shift towards a more sustainable and low-carbon economy in Mongolia. |
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21 Aug 2024 | Presentations |
Greenwashing Risk Assessment and Control Best Practices In an era of increasing environmental consciousness, businesses and organizations are under pressure to demonstrate their commitment tosustainability. ... |
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21 Aug 2024 | Presentations |
Reliable Data, Reliable Disclosure: How to Achieve Credible Climate Reporting This session explores best practices and strategies for achieving accurate and dependable climate reporting. Attendees will gain insights into effective... |