Environmental and social responsibility initiatives to be supported

Ulaanbaatar /MONTSAME/ All Mongolian banks announced during the Mongolian Sustainable Finance Forum 2014 held last December that they will adhere to the Mongolian Sustainable Finance Principles in their operations starting from the first quarter of 2015 by including environmental and social considerations into their financial decisions; refusing to invest in businesses that are harmful for the environment and society; and considering E&S impacts in their regular operations. In accordance with the decision by Sustainable Finance (SF) member organizations on collaborating and taking particular measures gradually with the aim of effectively implementing these principles, an event under the theme “SF Members’ Statement” was organized at the Mongolian Bankers’ Association on 5th March 2015. Corporate social responsibility implementer Khan Bank adopted a special policy in 2009 to promote sustainable finance in parallel with executing the projects to protect the environment and introduce eco-friendly approaches and practices. Moreover, Khan Bank has been upholding social and environmental responsibility initiatives through its business and reflecting the requirements of E&S impacts on its lending decisions since 2010. For this purpose, the Bank is conducting an evaluation of environmental and social responsibility projects implemented by its partners and corporate customers in mining, construction, agriculture, manufacturing and other key sectors and setting relevant requirements based on the evaluation of environmental and social risks. Moreover, Khan Bank is organizing a series of activities including economical consumption of water, paper and electricity in its daily operation, construction of fitting entrances and exits for disabled people with the aim of distributing banking services publicly, and investing social and environmental responsibility initiatives through its Khan Bank Foundation. Furthermore, the bank’s requirements in key sectors will be expanded and businesses that fulfill labor safety, sanitary procedures and guidelines in their operations in an appropriate manner will be supported. Implementation of the international approach to jointly create significant growth by Khan Bank, SF members and other banks is a great endeavor to make considerable and positive contributions to the next generation and unite for global green development.