Golomt Bank has published its 2024 Sustainable Development Report, presenting its sustainability strategy, policies aligned with the principles of responsible banking, and best practices implemented in the areas of environmental, social, and governance (ESG).
The bank has aligned its strategies and goals with international standards such as the United Nations Sustainable Development Goals (UN SDGs), and the United Nations Environment Programme Finance Initiative (UNEP FI) – Principles for Responsible Banking. Golomt Bank aims to make a meaningful contribution to the environment, society, and economy.
Key highlights from the 2024 sustainability and green financing efforts include:
- In the reporting year, the bank issued a total of MNT 309 billion in sustainable and green financing. Through its green loan portfolio, it has contributed to the creation of over 4,700 jobs and MNT 99 billion in value added, supporting the Sustainable Development Goals.
- The bank calculated its greenhouse gas (GHG) emissions under Scopes 1, 2, and 3 in accordance with the GHG Protocol and the Partnership for Carbon Accounting Financials (PCAF) methodology, totaling 1.8 million tons of CO2 These calculations were verified by the bank’s internal audit division.
- Golomt Bank successfully reduced its operational GHG emissions by 56% compared to 2023. Bank has target to reduce total emissions from both its operations and financed activities by 30% by 2030 and by 50% by 2050.
- In 2024, the bank was recognized as the Featured Sustainable Finance Bank and Billion Tree Funds Best Supporting Organization. Additionally, the bank’s head office building received the LEED O+M “GOLD” level certification from the U.S. Green Building Council.
- The bank regularly organizes trainings and events on sustainable and green finance for clients and employees (including 21 clients and 386 sales managers), actively supporting the transition to a green economy.
Please click here to see full report. We hope you find this year’s report informative and insightful.