The Mongolian Bankers Association (MBA), in collaboration with the Ministry of Environment and Green Development (MEGD), the Bank of Mongolia, the International Finance Corporation (IFC), the Netherlands Development Finance Company (FMO), and member banks, will host the “Mongolia Sustainable Finance Forum 2014” under the theme “Sustainable Finance: Building the Right Path Together” on December 16, 2014, in Ulaanbaatar.
This forum coincides with the planned implementation of sustainable finance (ToC) principles by all banks beginning in the first quarter of 2015. Policymakers, clients, representatives from the business community, environmental experts, and international organizations will come together to discuss anticipated changes in Mongolia’s banking sector, the future of sustainable development in the country, and how to collectively contribute to building a green economy.
Key Objectives of Implementing Mongolia’s Sustainable Finance Principles
By adopting these principles, banks will not only assess the economic benefits and risks of projects they finance but also consider and manage their environmental and social impacts. Banks will be encouraged to:
- Avoid financing projects that are harmful to the environment and society.
- Support green products, services, and initiatives.
- Incorporate these principles and requirements into their internal operations.
- Lead and inspire other business sectors to pursue sustainable development.
For more information, visit: mba.mn/sustainable-finance-in-mongolia-mn.