PRESS RELEASE: Gold Standard and Mongolian government partner to meet ambition of Paris Agreement pledge
This unique partnership will help Mongolia, a country highly vulnerable to the impacts of climate change, to attract climate finance to meet its nationally determined contribution and boost its citizens’ development potential.
GENEVA, SWITZERLAND – 6 July 2020
As countries are asked to increase commitments to the Paris Climate Agreement’s goal of reaching net-zero greenhouse gas emissions by midcentury, Gold Standard and the Government of Mongolia are partnering to deliver on greater ambition, integrity of outcomes, and transparent reporting to the global community.
Mongolia is one of few countries to have enhanced its Nationally Determined Contribution (NDC) to the Paris Agreement following initial submissions in 2015, yet climate finance is needed to deliver the emission reductions committed. To support the Mongolian Government in securing the finance to achieve their ambition, Gold Standard will design an integrated national monitoring, reporting and verification (MRV) system that provides credible data quantifying project impact in support of country NDC targets and meets investor requirements.
This will help position Mongolia’s climate protection project pipeline to attract climate finance, enable investors to credibly report on the impact their funding has helped achieve, and report accurately on its progress toward its NDC among a broad range of national and subnational efforts.
Beyond climate impact, Gold Standard’s expertise in social and environmental safeguards, engaging local stakeholders, and delivering verified benefits toward the Sustainable Development Goals (SDGs) can support the Mongolian Government in ensuring the climate finance they direct to global climate security also helps its own citizens grow on a sustainable pathway.
These projects focus on an integrated approach that combines measures to reduce GHG emissions and support climate-resilient development of the country through the effective mobilization of public, private and international resources. They will include renewable energy including solar and wind, energy efficient buildings, and other projects that also provide development benefits, like food security, water conservation and better air quality.
Batjargal Khandjav, Director General of Climate Change and International Cooperation Department of Mongolia’s Ministry of Environment and Tourism says,
“We’re proud to be among the first countries to scale up ambition for climate mitigation. Mongolia is committed to be an example of strong governance and transparency, as called for under Article 9 of the Paris Agreement, and to make the best use of funding to also support our people.”
Margaret Kim, CEO of Gold Standard, adds “We are thrilled to bring our 17+ years experience ensuring integrity and maximising development impact in carbon markets to larger scale by helping national governments secure climate finance that both enhances mitigation and delivers sustainable development outcomes. We believe this collaboration will serve as a best practice demonstration that can inspire other countries to enhance and deliver on their climate commitments.”
This support is being carried out as part of NDC Partnership's Climate Action Enhancement Package (CAEP) with financial support from the Netherlands Ministry of Foreign Affairs. The programme supports Gold Standard's aim to help the world #GrowToZero: To meet the Paris Agreement’s goal of Net-Zero emissions while accelerating progress toward zero extreme poverty, zero hunger, zero biodiversity loss and other ambitious targets.