Ulaanbaatar
“Green Finance - International Conference” to be Held
Politics
Ulaanbaatar, June 12, 2023 /MONTSAME/. Under the auspices of the President of Mongolia, the "Green Finance - International Conference" is going to be held for the second time.
As
part of the Conference, the Global Leadership Program “Sustainable Finance Week
-2023” and high-level political discussion will be organized on June 13-16 in
Ulaanbaatar.
“Green Finance - International Conference" aims to enhance regional and international cooperation, foster mutual understanding, promote green financing, refine its framework, foster the exchange of best practices, and promote the coordination of policies and measures.
The Conference will cover the following issues:
- Improving the institutional capacity necessary to accelerate green development;
- Increasing the coordination, role, and responsibility of economic sectors in intensifying green development;
- Current state of sustainable finance, international trends, standards, new tools, advanced technologies, and innovations; and
- Promoting green agriculture and energy efficient building sector.
In the future, Mongolia needs to fully define its comprehensive green development policy, improve its legal environment, ensure coordination and cooperation of stakeholders, and create a green business environment.
As a
preliminary estimate, Mongolia needs USD 11.5 billion to implement its National
Determined Contribution. In that extend, Mongolia is working toward spending at
least one percent of the GDP every year to combat climate change and
desertification.
It is worthy to note that the private sector has been active in increasing sustainable
financing options. During the last year’s “Green Finance-Regional Conference”,
Mongolia approved its National Sustainable Finance Roadmap, aspiring to
encourage green lending. In this context, Mongolian commercial banks have
successfully issued a green bond in the international stock market. Building on
the success, they are planning to issue the first green bond in the domestic
market during the upcoming Conference.
"Green
Finance - International Conference" will be co-organized by the Office of
the President of Mongolia, the Mongolian Sustainable Finance Association, the
Institute of Finance and Sustainability of China, International Finance
Cooperation, Sustainable Banking and Finance Network, and the Trade and
Development Bank of Mongolia.
