Golomt Bank established its Sustainable Development Committee in 2022. The committee is responsible for overseeing and managing the implementation of the Bank’s sustainable financing and development strategy. It convenes at least two times annually to address both internal and external sustainability agenda. The CEO chairs the Committee, whereas the Sustainable Finance Department works as a secretariat.

The Gender Equality Committee was established in 2021 with an objective to promote gender equality internally within employees, and externally within customers through the Bank’s products and services. The Committee is comprised of C-level Executives and chaired by the CEO.

Golomt Bank, in 2015, introduced Sustainable Financing Policy and environmental and social risk assessment procedures into its lending activities.

Golomt Bank, in 2019, has revised its principles regarding environmental and social risk management and mitigation of environmental and social impacts in its “Credit Policy”. As a result, business loans that meet the following minimum features are required to have environmental and social (E&S) risk assessment. These include:

• All loan applications included in the “Caution list” in the Sustainable Finance Principles of Mongolia

• Business loan applications of high-risk sectors of E&S as outlined in the Mongolian Sustainable Finance Principles. These sectors include mining, energy, construction, agriculture, manufacturing /heavy manufacturing/, and chemicals and explosives /for use, sale and processing/ and fuel /storage, trade, production and transportation/.

• Other business loan requests more than MNT 100 million or equivalent.

Golomt Bank has developed a document-based assessment methodology in its updated E&S Risk Assessment, reflecting the International Finance Corporation (IFC) E&S risk management standard and Mongolian legislations and norms concerning the customer's economic sector. The Assessment is carried out in 3 stages: initial, general and detailed. In doing so, we manage the E&S risk for both the Bank and the customer by dividing the risk into five categories, ranging from low risk to high risk, depending on how the customer's activities impact the environment and society.

From September 2018 to June 2019, Golomt Bank successfully implemented a /энэ а article-ыг авах/ green finance capacity building program in cooperation with IFC. Under this program, Golomt Bank’s employees received training on green business opportunities identification, green project technical assessment and risk analysis, and energy efficiency calculations to increase their knowledge of green finance. In addition, Golomt Bank highlights the sectors in high demand for green finance as reflected in Mongolia's “Nationally Determined Contribution” and aims to support customers in the energy saving, green building, and sustainable cashmere textile sectors.