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.
Session / Activity | Title | Speaker(s) |
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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 financial landscape, its…
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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-carbon technologies…
|
Chinguun Batkhuyag |
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.
|
Hee Woo Yang |
Scaling up Transition Finance
This session focuses on strategies to support the shift towards a more sustainable and low-carbon economy in Mongolia.
|
Yuki Yasui | |
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 to…
|
Luvsan Vanjildorj |
Climate Reporting: Empowering Mongolia’s Green Future
This presentation gives an overview about climate reporting and sustainability, focusing on Mongolia's green future and the importance of…
|
Sean Shin |
Disclaimer
The views expressed on this website are those of the authors and do not necessarily reflect the views and policies of the Asian Development Bank (ADB) or its Board of Governors or the governments they represent. ADB does not guarantee the accuracy of the data included in this publication and accepts no responsibility for any consequence of their use. By making any designation of or reference to a particular territory or geographic area, or by using the term “country” in this document, ADB does not intend to make any judgments as to the legal or other status of any territory or area.
Event Coordinator/s
- Raquel Borres
- Michelle Visaya
ADB Organizer/s
- Finance Sector Office
Topics
- Climate Change
- Economics