Golomt Bank has signed a Memorandum of Understanding (MoU) with the Mongolian Nature’s Legacy Foundation to collaborate on nature conservation, biodiversity protection, and sustainable finance. The signing ceremony took place during the High-Level Sustainable Finance Forum held as part of the 17th Session of the Conference of the Parties (COP17) to the United Nations Convention to Combat Desertification (UNCCD).
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Under the partnership, the parties will work together to preserve the value of biodiversity, promote sustainable conservation management practices, and develop innovative sustainable financing mechanisms. We will also explore opportunities to jointly develop new green economy products that support biodiversity conservation and the sustainable use of natural resources.
In addition, Golomt Bank will collaborate on integrating environmental risks into financial decision-making processes. The partnership seeks to strengthen institutional capacity and introduce methodologies for assessing biodiversity-related risks in greater detail.
To increase the participation of the banking and financial sector in conservation efforts and encourage environmentally responsible consumption, Golomt Bank is launching the “Nature” virtual card. Through this initiative, 80 percent of the card fee revenue will be donated to the Mongolian Nature’s Legacy Foundation, contributing directly to the protection of Mongolia’s strictly protected areas, protected areas, and natural heritage sites.
This collaboration supports the implementation of Mongolia’s long-term development policy, Vision 2050, which aims to promote environmentally responsible green development, maintain ecological balance, ensure environmental sustainability, enable present and future generations to benefit from nature, and improve quality of life. Furthermore, this partnership represents an important step toward diversifying conservation finance sources, expanding financial sector participation in environmental protection, and directing investment toward tangible and measurable conservation outcomes.
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