Mongolia to Establish an Ecolabelling System

Ulaanbaatar, November 28, 2024 /MONTSAME/. Ahead of the Mongolian Sustainable Finance Forum-2024, organized under the auspices of the President of Mongolia, a business meeting on the theme “The Path to a Green and Circular Economy: International Experience and Cooperation” took place on November 27, 2024, at the “Ulaanbaatar Gallery.”

The meeting was organized by the Mongolian Sustainable Finance Association (MSFA) as part of the Mongolian Sustainable Finance Forum 2024 under the "Rise with ToC" event. The morning workshop was aimed at bringing together policymakers, business leaders, financial institutions, and international organizations to enhance collaboration, share best practices, and explore pathways toward a greener and more inclusive future. The event is supported by the Office of the President, the MSFA, Khan Bank, the United Nations in Mongolia, and international partner organizations.

As a guest speaker for the meeting, Gareth Johnston, Secretary of Global Ecolabelling Network (GEN) shared international experience and the importance of eco-labeling and potential. GEN is a leading network of the world’s credible ecolabels that covers more than 60 countries and 40 members around the world.

The participants of the meeting highlighted a national strategy of Mongolia to reduce greenhouse gas emissions by 22.7 percent by 2030, noting that greenhouse gas emissions from industries account for a significant portion of this pollution. Therefore, shifting industries to a circular or environmentally friendly model, which would be a major step towards achieving this goal was a focal point of the meeting.

Internationally, industries that have implemented environmentally friendly practices such as saving water and energy, reducing waste, sorting, and recycling can obtain an “Eco-Label” by becoming certified according to standards. This would be a marketing tool that helps consumers recognize the value of the products, as well as providing a guarantee for obtaining green financing and launching products in the global market, emphasized Mr. Gareth Johnston.

According to GEN Secretary Gareth Johnston, the importance of “Eco-Label” in accelerating sustainable development in the world includes:

• Determining environmental impact through “Eco Label”,

• Supporting sustainable and green government procurement,

• Mutual recognition of “Eco Labels” and boosting foreign trade and exports through the label.

Mongolia is taking phased actions to establish this scheme and five sets of national standards were approved in October 2024.