Upcoming event: Mongolia - Green Credit Fund Working Group Kick-off Meeting

The Mongolian Bankers Association, in collaboration with the Ministry of Environment, Green Development and Tourism of Mongolia, PAGE, the UNEP Finance Initiative and the Global Green Growth Institute is organizing a kick-off meeting of the Green Credit Fund Working Group on 12 May 2016. The meeting will bring together representatives from the Government, banking sector and international development agencies to inform stakeholders about recent policy developments at the global and national levels, officially launch the Joint Working Group for the Green Credit Fund, and agree upon an Action Plan for next steps.

Mongolia has committed to an inclusive green economy development path by approving the national Green Development Policy in 2014 and the Action Plan for its implementation in 2016. The transition to a green and inclusive economy will require the crucial collaboration of the Government, international partners and the private sector, especially the financial sector.  The Mongolian Bankers Association (MBA), being at the forefront of the banking and financing sector, is a key Government partner for ensuring sustainability principles at the heart of financing and promoting a public-private dialogue and advocacy on SDG-related issues including sustainable consumption and production, industry innovation, affordable clean energy and green jobs.

In 2016, PAGE will provide support for regular consultative meetings and discussions to promote the establishment of a Green Credit Fund, conducting a market study (demand side) for green financing and organising the Sustainable Finance Forum. Furthermore, PAGE is planning to collaborate with Mongolian universities to identify opportunities for integrating sustainable finance knowledge and tools into university curriculums. As a part of this support, the United Nations Institute for Training and Research (UNITAR) will help Mongolian universities set up a “Center of Excellence” for the design of modules and training and educational materials inclusive of sustainable finance concepts.

The Center will also support the creation of a national pool of lecturers and researchers with knowledge on sustainable finance.  PAGE envisions this support will enable universities to prepare future professionals to understand and apply the fundamentals of sustainability in the finance sector.