September 15, 2020 — The Mongolian Sustainable Finance Association (MSFA) joined SBN in September this year. MSFA was established in 2017 by the Mongolian Bankers Association, building on the success of the Mongolian Sustainable Finance Initiative that started in 2013 with the support of the International Finance Corporation (IFC). In 2019, MSFA coordinated the development of the Mongolia Green Taxonomy. In 2020, MSFA served as one of the SBN IDA Task Force co-chairs, which delivered the recent report “Necessary Ambition: How Low-income Countries are Leveraging Sustainable Finance to Address Poverty, Climate Change and Other Urgent Challenges”.
The mission of MSFA is to foster a regional sustainable finance knowledge hub in Mongolia by helping members integrate environmental, social and governance (ESG) and sustainability practices in their operations and promoting green and climate finance. One of MSFA’s main objectives is to expand sustainable finance beyond the banking sector to include microfinance, capital markets and insurance. SBN and IFC look forward to supporting Mongolia and MSFA in these efforts through global knowledge sharing and country-level technical assistance.