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PILLARS
Indicators for global benchmarking of sustainable finance
STRATEGIC ALIGNMENT Alignment with global E&S standards and best market practices
  • Alignment with global E&S standards and best market practices

    Questions

    Does the framework make reference to international E&S targets (SDGs, Paris Agreement, Global Compact)?

    Does the framework make reference to established international E&S risk management standards (IFC PSs, EPs)?

    Does the framework make reference to established international sustainability reporting standards (GRI, SASB)?

    Does the framework make reference to established international climate finance reporting standards (TCFD)?

    Does the framework ask to make E&S policies, practices and results externally verified (assurance, independent review)?

    Answer Source Reference
    • N/A

    • (1) - Principle 1 - Relevant international standards - p.7

    • (1) - Principle 7 - Relevant international standards - p.23

    • N/A

    • (1) - Principle 6 - Demonstrating process - p.23

Source Reference
(1) - Principle 1 - Relevant international standards - p.7

- IFC Performance Standards 1 (Assessment of Environmental and Social Risks and Impacts), 3 (Resource Efficiency and Pollution Prevention), and 6 (Biodiversity Conservation and Sustainable Management of Living Resources) (Link) - IFC Environmental, Health and Safety Guidelines (Sector-specific) (Link) - Equator Principles (Link) - EBRD Performance Requirements (Link) - ISO 14001 – Environmental Management (provides practical tools for companies and organisations looking to identify and control their environmental impact and improve their environmental performance.) (Link)

Mongolian Sustainable Finance Principle Guidelines (MBA, 2014) Download

Source Reference
(1) - Principle 7 - Relevant international standards - p.23

- GRI Guidelines for the Financial Sector highlights best practice reporting for sustainability issues specifically for a Bank’s Business Activities. (Link) - GRI International Reporting Guidelines, G4 is the latest version of internationally accepted best practice in sustainability reporting. A number of different sector supplements can be useful in assessing client transparency and accountability progress. (Link)

Mongolian Sustainable Finance Principle Guidelines (MBA, 2014) Download

Source Reference
(1) - Principle 6 - Demonstrating process - p.23

In order to demonstrate progress in implementing this principle, a Bank should: • Develop a policy approach on ethical finance and corporate governance which includes: Any performance related incentives, internal and external audit requirements, and governance responsibility and escalation criteria for risk committees.

Mongolian Sustainable Finance Principle Guidelines (MBA, 2014) Download

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