Mongolia Strengthens ESG Practices with New Sustainability Reporting Guidance

Ulaanbaatar, Mongolia, November 21, 2024. Through the IFC Mongolia Green Finance Project, IFC has partnered with the Mongolia Financial Regulatory Commission (FRC) and Mongolian Stock Exchange (MSE) to launch the ESG and Sustainability Reporting Guidance for Mongolian Companies, a critical step toward advancing sustainability and transparency in Mongolia’s business sector.

The guidance, initially developed and introduced in August 2022, has been further bolstered by IFC’s support through training modules and capacity-building initiatives. On November 21, 2024, IFC, in collaboration with the FRC and Mongolian Sustainable Finance Association (MSFA), conducted a full-day training session in Ulaanbaatar. This marked the first systematic training for regulators, listed companies, and local trainers to facilitate the effective implementation of the guidance.

Key Highlights:

  • Practical Training: The training provided regulators and companies with the tools and knowledge to align their sustainability reporting practices with global standards.
  • Global Expertise: IFC and international trainers shared insights from IFC’s global work on sustainability reporting, aligned with ISSB standards, and pioneering practices from regional stock exchanges.
  • Building Local Capacity: The initiative supports the development of local trainers to ensure continued progress in Mongolia’s ESG and sustainability journey.

The ESG and Sustainability Reporting Guidance equips Mongolian companies with the framework to disclose their environmental, social, and governance impacts, fostering greater transparency and aligning with international standards. The initiative reflects IFC’s commitment to supporting emerging markets in integrating sustainability principles into their financial ecosystems.

This collaboration underscores the importance of capacity-building efforts in advancing Mongolia’s green finance agenda and strengthening its position as a leader in sustainable practices in the region.

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