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National Roadmap for Sustainable Financing adopted
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During the ‘Green Financing-Regional Forum’ taking place at the initiative of the President of Mongolia, the National Roadmap for Sustainable Financing has been adopted today, March 30.
Within the framework of the roadmap, basic conditions and favorable policy environment will be created for the development of sustainable financing, budget and finance will be orientated to the green development, green banking and financial institutes will be developed by way of increasing green financing capital flow, as well as their environmental, social, governance and climate risk management will be improved, in addition to the support to be given to transparent and open reporting.
The realization of the Roadmap with six main chapters and 25 sub-activities aims at increasing banking sector’s green loan portfolio to 10 percent of the total loan portfolio by 2030, and making at least five percent of the total loan portfolio of the non-banking financial institutes to be green lending.
In doing so, it will be able to provide at least 15 percent of financial needs for the implementation of Mongolia’s Nationally Determined Contribution with the source of banks and financial institutes.
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