Webinar on "Introducing Environmental, Social and Governance (ESG) Standards into the Mongolian Capital Markets"

May 20, 2021

Opening Remarks by Ms. Nashida Sattar

Deputy Resident Representative, UNDP Mongolia

20 May 2021

Good afternoon, partners and colleagues!

It is a great pleasure for UNDP and the UN Joint Programme to cooperate with capital markets regulatory organisations, the private sector and other international organisations in our joint effort to introduce Environmental, Social and Governance standards into Mongolian capital markets.

It is an important step towards engaging the private sector to protect the environment and and to create a positive contribution to Mongolia’s development agenda.

The adoption of ESG or SDG practice standards will unlock more opportunities for the private sector to integrate the sustainability considerations into their business decisions and help them understand exactly how they can contribute through their actions towards achieving the SDGs.

Current absence of such standards also means that the private companies that are actively contributing towards the SDGs are not able to fully report their efforts and impacts and get the recognition that they deserve.

The private sector involvement in our collective efforts towards achieving the national and global SDGs is critical, as the public resources is not sufficient by itself.

Their role and participation will be a deciding factor if we will be able to achieve our set goals and targets as well as how fast we achieve those.

Therefore, I consider today’s workshop as a very important step towards not only enhancing current business practice but also increasing the critical role and contribution of the private sector to achieving the SDGs.

I would like to thank our project partners and the private sector representatives for your interest and participation in introducing ESG standards in the private sector.

I am confident that our collaboration will only grow deeper and stronger as we combine our efforts to integrate sustainability into the business decision-making process based on the foundation that we are creating today, hence accelerating the achievement of the Sustainable Development Goals.