Mongolia Mobilizes Partnerships for Green Development

Ulaanbaatar, Mongolia, 16 March 2016 – Over 150 participants from Government, international development partners, embassies, private sector, banks, academia and civil society gathered at a high-level event on ‘Mobilizing Partnerships for Green Development’, held in Ulaanbaatar, Mongolia, on March 16.

The meeting was convened by the Ministry of Environment, Green Development and Tourism and the Ministry of Finance of Mongolia in collaboration with PAGE, the International Finance Cooperation (IFC), the Mongolian Bankers’ Association and the Korean International Cooperation Agency (KOICA).  

In his opening speech, Mr. N. Battsereg, Member of Parliament and Minister of Environment, Green Development and Tourism of Mongolia, highlighted the importance of changing mindsets and how the country is striving for a common mission for implementing the Green Development Policy (GDP) and the Sustainable Development Vision (SDV) 2030. This will require coordination within Government as well as a broad multi-stakeholder and multi-sectoral partnership. A clear, accountable and independent institutional structure would be required to drive this partnership, which is able to provide continuity over the long term as well as represent all interests groups.

Ms. S. Oyun, Member of Parliament and President of the United Nations Environment Assembly (UNEA), explained why green development is necessary for Mongolia, highlighting the environmental costs of business as usual growth. “The youth are particularly important”, she said. “They are more likely to make decisions that take into account these costs.” Ms. Oyun also stated that attitudes are beginning to change in the banking sector which is vital for overcoming skepticism within the business sector.

The presentations and discussions during the meeting centered around issues related to policy coherence between GDP and SDV, the fiscal policy framework and opportunities for green development, sustainable financing and the potential for a green credit fund. Mr. Tuyen Nguyen, from the IFC, identified the energy sector as a particularly important pressure point in achieving a green transition, citing the importance of sending market signals that can encourage the growth of renewable energy.

Mr. Angus Mackay, representing PAGE, presented several important factors for countries to consider in promoting a green economy including institutional support, knowledge and skills, high level policy guidance and financing. Mr. Thomas Erikson from the UN Development Programme summarized some of the key findings from the meeting including:

  • The importance of clear messaging to the general public on green development;
  • That more high quality analysis of the opportunities and barriers for a green economy is still needed, for example in the energy sector; and
  • Creating approaches to financing the green economy would be needed, such as the idea of a green credit fund, but equally the potential use of fiscal measures.

As a next step the MOF, MEGDT and partners will draft a partnership statement. The Ministry of Green Development and Tourism and Ministry of Finance will shortly release an official statement describing the key findings from the meeting and proposing a way forward.