Ulaanbaatar
Mongolia Becomes One of the First Countries to Adopt SDG Finance Taxonomy
Politics
Ulaanbaatar,
June 15, 2023 /MONTSAME/. On the sideline of the “Green Finance-International
Forum”, the Signing Ceremony: Launch of Mongolia SDG Finance Taxonomy was held.
D.Bayarsaikhan, the Chairman of the FRC, B.
Lkhagvasuren, the President of the Bank of Mongolia and S. Baatarsuren, the
Vice Executive Director of Deposit Insurance Corporation of Mongolia signed the
Mongolia SDG Finance Taxonomy, approving its adoption.
The SDG finance taxonomy is a classification system of economic activities contributing to the SDGs, along with the criteria for measuring, verifying, and reporting the impacts of the financial flows towards the SDGs.
With the
adoption of the SDG Finance Taxonomy, the financial sector will be able to
start tracking the financial flows dedicated to the SDGs, monitor its progress
and implement tailored policy incentives to support the SDGs financing.
In addition, Chairman of the FRC D.
Bayarsaikhan signed an agreement to become a member of the Sustainable Banking
and Finance Network (SBFN) of the International Finance Corporation during the
Forum.
SBFN assists members to share knowledge and
access capacity building to support the design and implementation of national
sustainable finance initiatives and comprises 80 member institutions
representing 63 countries.
