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Banking sector involved in supporting the “Billion Tree” national movement www.mongolianbusinessdatabase.com
Banks and financial institutions are collaborating closely with the national “Billion Trees” movement in Mongolia. In March 2022, the “Billion Tree Fund” (BTF), the climate and forest fund, was established under the policy support from the Central Bank of Mongolia to fulfill the private sector commitments to the Billion Tree National Movement launched by the President of Mongolia at the United Nations Assembly in 2021.
The fund aims to enhance private sector engagement in environmental conservation and climate change mitigation by planting the right tree in the right locations and create a sustainable funding mechanism for the forestry sector, emphasizing community involvement and long-term ecological benefits.
The Billion Tree Fund is nearing its two-and-a-half-year milestone since inception, aligning with global standards prioritizing governance, transparency, and autonomy. The fund operates through a series of strategic key initiatives aimed at addressing key environmental protection, sustainable land use, and community well-bring, creating a lasting impact on both the local and global scale. The main activities:
1. State -owned kindergartens and hospitals, and nursing homes with green spaces: These green areas are integral to the development of urban city landscapes, as they not only help mitigate greenhouse gas emissions but also provide opportunities to promote environment friendly behaviors and healthy, nature-connected lifestyle among communities.
2. Public engagement-based afforestation and reforestation: The fund is dedicated to engaging the public in large -scale afforestation and reforestation projects in critical areas, including boreal forests and saxaul lands. These efforts are essential for restoring vital ecosystem, combating climate change, and improving biodiversity regions where reforestation is needed most.
3. Capacity building and awareness -raising in the forest sector: Recognizing the need for sustainable forest management, the fund focuses on enhancing professional competence and raising awareness within the forestry sector. This sector, often neglected, requires careful attention to improve skills, knowledge, and attitudes for the long-term sustainability of forest resources and the development of effective management practices. activities in the forest sector which was neglected, and professional competence and attitude are critical aspects that must be carefully addressed for the long-term sustainable management forest.
Implementing through these activities, the fund remains committed to continuously encouraging and integrating innovative technologies and creative methods into its ongoing projects. Through this forward--thinking approach, the fund aims to enhance its impact, foster long -term sustainability, and promote a more resilient, eco-conscious future. To achieve this, additional investment is needed long-term sustainable forest management and enhancement of the new technology and enhance capacity building for human resources in the forestry sector.
Since its establishment, the fund has planted 3 million trees across 1,435 hectares in Mongolia, covering both boreal and sexual landscapes through 81 projects, selected according to international funding standard and principles, over two years. All these projects were chosen by an independent technical committee, which includes experts from 24 sectors, including environment, forestry and finance.
Look ahead to 2025, the Billion Tree Fund is set to announce new project selections and continue its ongoing projects evaluation process in accordance with established regulations.
Join us in our mission to plant trees and contribute to a sustainable green environment.
We welcome collaboration with any entity that shares our vision for a greener future.
Published Date:2025-01-03
