On 10 Dec, 2018, GGGI Mongolia organized a workshop for Regulators, Financial institutions, Investors and Issuers to build and enhance the knowledge on Green Bonds as financing and investment tool. Representatives from policymaking and regulatory bodies, financial institutions, public and private companies, local governments, investors as well as research and rating institutions were invited to join the workshop on Green Bonds. Participants will be learning from leading finance and science experts and gain knowledge and hands-on technical expertise on the pillars that constitute a robust Green Bond framework.
These include:
• Definitions & Verification;
• Process for Identification, Evaluation and Selection of Eligible Green Projects;
• Monitoring & Reporting; and
• Legal & Market Aspects.
Managing climate-related and environmental risks, which increasingly impact social, economic and financial systems across the globe, requires massive investment into a more sustainable low-carbon and resource-efficient economy. The Mongolian government’s commitment to reduce emissions by 13 percent by 2030 – jointly with market-led initiatives – does not only put carbon-intensive assets and investments at a higher risk but also create new business and investment opportunities.
An increasingly recognized and popular financial instrument used by the public and private sector to effectively raise the capital urgently needed for such a green transformation are Green Bonds.
At the heart of the workshop are the pillars of a robust Green Bond framework. This first workshop within the series focuses on the topics Definition, Selection & Verification and is addressed to banks, investors and potential issuers of Green Bonds. The themes will be scrutinized with respect to the particular needs and questions of participants in order to build and enhance technical expertise in the most efficient and targeted way for their professional tasks.
Background:
The Global Green Growth Institute (GGGI) is a treaty-based international, inter-governmental organization dedicated to supporting and promoting strong, inclusive and sustainable economic growth in developing countries and emerging economies. Together with the commitment of its members, GGGI is leading the implementation of a new development paradigm, focused on a model of economic growth that is both environmentally sustainable and socially inclusive: Green Growth. GGGI supports its member governments to achieve the commitments expressed under the Paris Climate Agreement, and their Sustainable Development Goal targets. It specifically targets impact over a set of six Strategic Outcomes: (i) GHG emissions reductions, (ii) Creation of green jobs (iii) Increased access to sustainable services, such as, clean affordable energy, sustainable public transport, improved sanitation, and sustainable waste management (iv) Improved air quality (v) Adequate supply of ecosystem services (vi) Enhanced adaptation to climate change. GGGI’s delivery model combines rigorous technical assistance to governments through embedded country teams, and helps to mobilize finance into climate resilient projects. GGGI’s services to its member and partner countries are of two main types: policy advice and green investment projects development.
Mongolia is a member country of GGGI, since 2014 and GGGI services supports the implementation of Mongolia’s Sustainable Development Vision 2030, INDC and National Green Development Policy. For that, GGGI works alongside line Ministries, agencies and sub-national governments to support the mainstreaming of green development in policies, investment plans and projects and help raise finance for Mongolia’s green development agenda. GGGI’s Country Planning Framework 2015-2020 focuses on three thematic areas: Sustainable energy, Green Cities development and Water and Sanitation.