The Chairman of the Board of Directors of Trade and Development Bank (TDB), Mr. R. Koppa, participated in the 29th Session of the United Nations Framework Convention on Climate Change (UNFCCC COP29), held in Baku, Azerbaijan, under the theme "Unity for a Green World."
This conference focused on ensuring the fulfillment of global commitments to achieve net-zero greenhouse gas emissions by 2050, limiting global warming to 1.5 degrees Celsius, supporting climate change mitigation and adaptation initiatives, mobilizing climate finance, and addressing the financial needs of developing countries. The President of Mongolia attended the high-level meetings, presenting Mongolia's stance on sustainable development and green economic transition and showcasing the national policies and initiatives being implemented in this field.
At COP29, the global reduction of greenhouse gas emissions was a key topic. TDB’s unique position stems from its accreditation by the Green Climate Fund (GCF) in 2020, which enables the bank to support projects and programs aimed at mitigating and adapting to climate change through international co-financing mechanisms.
Moreover, TDB has committed to aligning its business and operational activities with the green economy model, aiming to become a fully Green Bank by 2050. The bank has set ambitious goals, such as achieving net-zero carbon emissions (Net-Zero) from its operations and providing $2 billion in sustainable financing to businesses and clients by 2030. These objectives demonstrate TDB’s alignment with international development organizations convening at COP29 and its active participation in global efforts.
As part of its strategy to strengthen international cooperation and increase sustainable financing, TDB organized meetings with implementing agencies of the United Nations development programs and international investors during the event.
Additionally, Mr. R. Koppa attended the inaugural meeting of the international advisory council for investors, convened under the leadership of Mongolia's Minister for Environment and Climate Change, Ms. S. Odontuya, as part of the COP29 framework. TDB’s participation at COP29 highlights its dedication to advancing global climate goals and fostering sustainable development through collaborative efforts.
TOGETHER TOWARDS SUSTAINABILITY