LocationsUNDP Launches New Carbon Market Readiness Project in Mongolia with Support from Green Climate Fund
June 19, 2025
UNDP Launches New Carbon Market Readiness Project in Mongolia with Support from Green Climate Fund
Ulaanbaatar, 20 June 2025 – The Government of Mongolia and the United Nations Development Programme (UNDP) today launched a new initiative to accelerate carbon market readiness in Mongolia. Supported by the Green Climate Fund (GCF), the Advancing Carbon Market Readiness in Mongolia project seeks to strengthen institutional, technical, and regulatory foundations for an inclusive, transparent and functional carbon market aligned with the Paris Agreement. This enables the country to access new climate finance and scale up emission reductions, which are essential to achieving its target of reducing greenhouse gas emissions by up to 22.7% by 2030.
The inception workshop marked the project’s official launch, gathering representatives from key ministries, including the Ministry of Economy and Development and the Ministry of Environment and Climate Change, along with development partners, private sector actors, and civil society organizations.
Mr. Urtnasan Tsetsegmaa, State Secretary of the Ministry of Environment and Climate Change, added: “By implementing international standards which have become a common expectation among stakeholders, we will develop a carbon market that delivers tangible benefits to Mongolia’s ecosystems through the participation and initiative of citizens across the country.”
Mr. Urtnasan Tsetsegmaa, State Secretary of the Ministry of Environment and Climate Change
“This project is a timely step toward supporting Mongolia’s green transition and unlocking new financing opportunities through the carbon market. We are committed to developing the carbon market into a key mechanism for delivering on our nationally determined development and climate goals,” said Mr. Batbaatar Battushig, Acting Head of the Green Finance Policy Division at the Ministry of Economy and Development.
Mr. Batbaatar Battushig, Acting Head of the Green Finance Policy Division at the Ministry of Economy and Development
The project places strong emphasis on inclusive participation, gender equality, and long-term sustainability. It will strengthen the capacities of government institutions and non-government actors, support policy development, and enhance private sector participation in climate action.
“UNDP is proud to support Mongolia’s leadership in developing a high integrity carbon market, with a strong emphasis on transparency, accountability, environmental effectiveness and social responsibility. This initiative will be crucial in supporting Mongolia to establish foundations for mobilizing climate finance, empowering local actors, and ensure that lead to meaningful environmental and societal outcomes in the transition to a low-emission future” said Ms. Matilda Dimovska, UNDP Resident Representative in Mongolia.
Ms. Matilda Dimovska, UNDP Resident Representative in Mongolia
During the workshop, stakeholders reviewed the project’s objectives, governance arrangements, and workplan. Discussions also addressed adaptive management approaches, risk mitigation strategies, and safeguard policies. Participants exchanged key insights on national carbon market policy and its critical role in accelerating Mongolia’s transition to a low-emission economy.
For more information, please contact: Erdenesukh Otgonbayar | Communications Analyst | UNDP Mongolia | erdenesukh.otgonbayar@undp.org
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UNDP Launches New Carbon Market Readiness Project in Mongolia with Support from Green Climate Fund
