L.Oyun-Erdene: The government will fully support instruments to increase green financing

2022-03-29 16:41:22

L. Oyun-Erdene, Prime Minister and Chairman of the National Committee in charge of climate change and reduction of desertification, gave a keynote speech at the opening of the panel discussion ‘Green Finance-Regional Forum’ being organized as part of the series of discussions ahead of the Mongolian Economic Forum 2022.

In his speech, PM Oyun-Erdene expressed confidence that the forum would approve the national roadmap for sustainable financing within the framework of ‘New Revival Policy’, issue final recommendations for presentation at the plenary session of the Mongolian Economic Forum 2022, and play an important role in elevating the ​​public-private partnerships against climate change to a new level. 

He stressed, “In Mongolia, the frequency of natural disasters has doubled, 76 percent of the total territory has been struck by desertification, and 90 percent of pastures are at the risk of desertification. In addition, the country is among the 20 countries with the lowest water resources. The indication is worsening every year. The truth is that climate change is not only a developmental but also a life-limiting factor.

That’s why the Green Development Revival is a component of the ‘New Revival Policy’ of Mongolia, which aims to lay the foundation for the successful implementation of the ‘Vision-2050’ long-term development policy, remove the barriers to the development, and expand the economy.”

In his speech, the PM emphasized that our country is committed to contributing to global cooperation in the fight against climate change, and has the opportunity to cooperate closely with international organizations, development countries and the private sector within this framework.

The PM stated that within the New Revival Policy, the Government will provide all-round support for the increase of capital flows for sustainable and green development and the successful introduction of financing instruments such as Green Financing, Green Sustainable Loans, Green Sustainable Bonds, Green Insurance, and Green Fintech in Mongolia.

As the Prime Minister of Mongolia and Chairman of the National Committee in charge of climate change and reduction of desertification, he said that he would work for the full realization of the ‘Green Development Revival’ and make a real contribution to the great deeds of mankind for the Mother Earth.

Related news