Ulaanbaatar
“Climate-Related Disclosure Guideline” for Financial Institutions in Mongolia Released
Economy
Ulaanbaatar, May 9, 2025 /MONTSAME/. The Release Ceremony of the "Climate-Related Disclosure Guideline" for financial institutions in Mongolia was held on May 9, 2025.
This initiative is being implemented by the Central Bank of Mongolia in cooperation with the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) and the Mongolian Sustainable Finance Association, under the project “Readiness Support for Greening the Central Bank,” funded by the Nationally Determined Contributions (NDC) Partnership. The aim is to initiate the process of climate risk disclosure in Mongolia’s financial sector. The Guideline has been developed in alignment with international IFRS Sustainability Disclosure Standards S1 and S2, and tailored to Mongolia’s specific context, enabling financial institutions to conduct climate-related risk assessments and transparent disclosures.
Opening the Ceremony, President of the Central Bank of Mongolia Lkhagvasuren Byadran noted, “The increasing frequency and impact of tangible risks of natural disasters, such as drought, dzud, and floods, are beginning to pose substantial threats to agriculture, infrastructure, the economy, and financial stability. By establishing a system to assess and disclose these risks, we can enhance climate-related transparency and lay the foundation for attracting responsible investment.”
United Nations Resident Coordinator in Mongolia Jaap van Hierden remarked, “With the help of this Guideline, Mongolia is taking a decisive step toward establishing a financial system that not only responds to climate change but also supports the transition to a sustainable and resilient economy.”
During the Ceremony, the core principles of the Guideline and the reporting framework were presented in detail, followed by a discussion with participants. The Guideline is expected to enhance financial transparency, allow organizations to manage their climate risks more effectively, and provide a tangible boost to attracting green investment and increasing financing for climate-resilient projects in Mongolia.
