Bank of Mongolia Shares Climate Risk Assessment Experience at Global Central Banking Webinar

The Bank of Mongolia recently participated in the peer learning webinar “Greening Central Banks: Peer Learning, Insights and Innovation”, a virtual event co-organized by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), the NDC Partnership, the Agence Française de Développement (AFD), and the European Investment Bank (EIB).

Held on July 4, 2025, the webinar convened nine central banks from across the world, along with financial supervisors and technical experts, to exchange practical insights on integrating climate-related risks into financial sector supervision. The series builds on the momentum of the Greening Central Banks Initiative launched at COP26 and responds to increasing demand from developing countries for strengthened climate risk frameworks.

Representing the Bank of Mongolia, Ms. Urgamalsuvd Nanjid, Division Head at the Monetary Policy Department, presented the central bank’s pioneering work on Mongolia’s first bottom-up approach to climate stress testing. Drawing on the country’s unique climate vulnerabilities and evolving regulatory landscape, Ms. Urgamalsuvd outlined the development process, initial findings, key lessons learned, and institutional challenges encountered. She also shared the Bank’s next steps toward embedding climate risk into Mongolia’s macro-financial stability framework.

The webinar featured technical contributions from the European Central Bank and the Central Bank of Armenia, along with expert presentations on modeling physical climate risks and assessing macroeconomic vulnerabilities. Discussions emphasized the critical role of peer learning, data reliability, and international cooperation in building resilient financial systems.

The Bank of Mongolia’s participation underscores its ongoing commitment to aligning monetary policy and supervisory practices with climate objectives, in support of Mongolia’s national climate priorities and the broader goals of the Paris Agreement.