Since 2015, the Mongolian Bankers Association (MBA) has been presenting the “Best Sustainable Finance (ToC) Bank” award to banks that implement the Environmental and Social Risk Management System (ESRMS) under the Mongolian Sustainable Finance Program (ToC) and make significant contributions to the country’s sustainable development. During the 11th Annual Meeting of the MBA, held on December 15, 2016, Trade and Development Bank (TDB) was honored as the “Best ToC Bank” for 2016. This prestigious recognition reflects TDB’s outstanding achievements in advancing the ToC Program and implementing ESRMS during the year.
Why Are the ToC Program and ESRMS Important?
One of the critical challenges in global development is encouraging businesses—the driving force of economic growth—to operate in environmentally and socially responsible ways with minimal negative impact.
Since 2012, TDB has partnered with the Netherlands Development Finance Company (FMO) to implement its Environmental and Social Responsibility Policy. This initiative enables TDB to identify, manage, and mitigate environmental and social risks in its clients’ business operations.
On November 21, 2013, TDB signed the Joint Statement on Promoting Socially and Environmentally Responsible Sustainable Finance in Mongolia, marking the formal decision to implement the Mongolian Sustainable Finance Program (ToC). Led by the MBA, a working group was established to guide all banks in integrating ToC principles into their operations.
TDB’s Commitment to Sustainable Development
TDB continues to protect its clients from risks, support sustainable economic growth, and work toward leaving a healthy environment for future generations.