“Sustainable Finance Week – 2023” series of events is being organized under the auspices of the President of Mongolia on June 13-16, 2023. Golomt Bank, together with the Sustainable Banking and Finance Network (SBFN), the Partnership for Carbon Accounting Financials (PCAF) and Mongolian Sustainable Finance Association (MSFA), participated in the “Climate Risk Management and Developing Sustainable Finance Roadmaps” workshop and shared experiences.
During the event, an international leadership program and high-level policy discussions, Norihiko Kato, CEO from Golomt Bank, shared his experiences of working in harmony with the United Nations Sustainable Development Goals, Nationally Determined Contributions, and the Principles for Responsible Banking. Golomt Bank is leading the working group of the “PRB 2030 Core Group” of banks founding signatories of the “Principles for Responsible Banking” of the United Nations.
Also, using the banking industry impact analysis methodology developed by the United Nations Environment and Finance Initiative, the positive and negative impacts of the loan package on the environment were analyzed, and the impacts of water and climate were determined to be the highest. In this context, we are pleased to announce that we have become the third organization from Mongolia to officially join the Partnership for Carbon Accounting Financials (PCAF), focusing on climate risk management. Golomt Bank has shared the methodology developed by the Partnership for Carbon Accounting Financials, which includes more than 400 global banks and financial institutions, with other banks and international organizations its real experiences on how the bank has integrated the operational climate risk management and used it in the carbon calculation of high-impact loan portfolios.