Mongolia

A Path to inclusive and Sustainable Growth Beyond Mining

Mongolia’s economy combines strong growth potential with persistent structural challenges. Growth remains robust, driven largely by mining—particularly copper and coal—yet heavy dependence on the sector contributes to pollution, public health risks, and vulnerability to extreme winters, volatile commodity prices, and shifting global demand. These factors constrain economic diversification and poverty reduction, underscoring the need for more sustainable and resilient growth pathways.

In response, the Five-Year Development Guideline (2026–2030) prioritises green economic transition, energy independence, and social inclusion, aligned with Mongolia’s long-term Vision 2050, which focuses on reducing coal dependence and expanding renewable energy. The 2024–2028 Action Programme reinforces this shift by accelerating national progress through large‑scale infrastructure and development projects, with a focus on renewable energy, regional development, and industrial self‑sufficiency. Internationally, Mongolia pledged at COP26 to cut greenhouse gas emissions by 27.2% by 2030 and later in 2024, the Prime Minister announced three key transitions—human capital, technological, and green—to guide economic diversification and resilience. To advance these priorities, the government is preparing NDC 3.0, a Long-Term Low-Emission Development Strategy (LTLEDS) for 2050 and drafting a Climate Change Law to establish a framework for carbon pricing and a low-carbon economy.