U.Khurelsukh: Mongolia will reduce greenhouse gas emissions by 22.7 percent by 2030Video
Ahead of the Mongolian Economic Forum 2022, discussions are taking place on six main topics for the ‘New Revival Policy’ being implemented by the Government of Mongolia.
Today, March 29, a two-day forum ‘Green Finance Regional Forum’ has started at State House.
Over the past 170 years, global surface temperatures have risen by 1.09 percent, and many biological species are becoming extinct. Despite emitting 0.1 percent of the world's greenhouse gas emissions, Mongolia is one of the countries that are the most affected by climate change.
Specifically, climate change has intensified over the past 80 years in Mongolia, with the average air temperature increasing by 2.25 degrees, which is twice the global average. In Mongolia, 76.9 percent or 120 million hectares of the total territory is affected by desertification, and half of the total area is classified as severely desertified.
Compared to 1990, the number of climate change-related natural disasters has tripled in Mongolia in the last decade.
66 countries in the world have pledged to reduce their greenhouse gas emissions to zero by 2050. In the document dated 2016, Mongolia set a goal to reduce its greenhouse gas emissions by 22.7 percent by 2030. During the UN Climate Change Conference 2021 held in Glasgow, UK, Mongolia announced that it is possible to increase the target level to 27.2 percent by introducing advanced technology and innovation and increasing green financing.
With aims to increase renewable energy and further improve the energy supply in Northeast Asia, Mongolia supports the Asia Super Grid Initiative and is cooperating with countries in the region using abundant solar and wind resources.
Experts consider that the One Billion Trees movement will have a significant impact on reducing dust storms that are causing ecological and health threats not only in Asia but also in the Americas.
The movement will have multiple socio-economic benefits such as creation of jobs, reduction of poverty, improvement of food supply, increased production of seedling, fertilizers and pesticides as well as others. Mongolia made a decision to allocate at least one percent of its GDP each year for combating desertification.
The Office of the President of Mongolia, Ministry of Environment and Tourism, and the Mongolian Sustainable Finance Association are organizing the forum, with support from the Ministry of Finance, Bank of Mongolia, Financial Regulatory Commission, Mongolian Bankers Association, International Finance Corporation, United Nations Development Programme, European Bank for Reconstruction and Development, and MONTSAME Agency.