We are bringing you a summary of the speech delivered by The Prime Minister of Mongolia, L.Oyun-Erdene, Chairman of the National Committee for Climate Change and Desertification Reduction, given at the ’Green Finance-Regional Forum’.
Dear Mr.President, honored guests and delegates,
We, Mongolians, must build a progressive model of green growth in line with global trends without any delay, based on our traditional culture of living in harmony with mother earth.
Due to climate change, the Arctic Ocean is melting, sea levels are rising sharply, and urban areas are experiencing flooding.
It is true that climate change is a limiting factor not only for development but also for life.
That’s why the Green Development Revival is a component of the ‘New Revival Policy’ of Mongolia, which aims to lay the foundation for a successful implementation of the ‘Vision-2050’ long-term development policy, remove the barriers to development, and expand the economy.
When the ’New Revival Policy’ was approved by parliament, I said, “Governments around the world and international banks and financial institutions have announced plans to reduce greenhouse gas emissions and move to a green economy. It is a difficult challenge for our country which generates its state budget from coal, but it allows us to move to an advanced green growth policy without delay”.
The main principle for implementing the ’New Revival Policy’ is to create a new economic structure based on the active participation of citizens, businesses and international investors.
The world is shifting towards a trend where indicators of how countries and businesses are doing green growth are one of the key conditions for attracting foreign investment to the country.
There is no doubt that in line with international trends, we will be able to define a mother earth friendly model of green growth in line with the ’Sustainable Development Goals’ and the Climate Change Cooperation, adopted by the United Nations General Assembly.
At today’s forum, the ’Billion Tree National Movement Support Fund’ was introduced, and the initial capital of the fund is being raised by the banking sector, led by Mongol bank and it is the first big start of green financing.
Within the New Revival Policy, the government will provide all-round support for the increase of capital flows for sustainable and green development and the successful introduction of financing instruments in Mongolia such as Green Financing, Green Sustainable Loans, Green Sustainable Bonds, Green Insurance, and Green Fintech.
As the Prime Minister of Mongolia and Chairman of the National Committee for Climate Change and Desertification, I would like to express my commitment to fully implement the Green Development Revival goals of the New Revival Policy and make a real contribution to the great deeds of mankind and prolong life on mother earth and for humanity.