In addition to economic development, investment and financing decisions should take into account whether the project is environmentally friendly, harmful to human health, and socially beneficial. As a result, not only the financial institution but also the customer’s risk is reduced and it becomes a basis for living in an environmentally and socially friendly way.
Golomt Bank has been implementing the “Sustainable Finance Policy” since 2015, and in 2019, the policy was changed to the “Sustainable Development Policy” to implement the Sustainable Development Goals, which cover all levels of the bank’s operations, not just financing. As part of our sustainable development policy, we aim to implement the economic changes needed to achieve climate balance through our products and services, as well as to make our internal operations more environmentally and socially friendly, and our strategic focus is on sustainable business, social and environmental development. is to focus on issues and create sustainable and satisfying jobs.
We present our Sustainable Development Report, which outlined the results of important work we have done to modernize our business and internal operations in the field of sustainable development in 2020.
The report includes Golomt Bank’s support for environmentally friendly business, social responsibility, education and health, cultural heritage protection, Green Loans, Gender Equality, and the satisfaction of customers and their safety, and the employees satisfaction.
Some of the key figures in the report include:
Within the framework of sustainable financing:
- In 2020, a total of MNT 57.5 billion in sustainable financing loans were disbursed to 55 enterprises, created a total of more than 400 new jobs and saved 706 jobs. During the Covid-19 pandemic that lasted through 2020, Golomt Bank supported the local economy by providing project loans to support SME, start-ups.
Within the framework of the two-phase loan project “Development of SME and environmental protection”, 800 million MNT was invested in the private health sector in the region, which created the following positive social impact. These include:
- Population disease prevention;
- Maternal and child health protection;
- Reducing the risk of common communicable and non-communicable diseases;
- Improving the quality and access to basic social services;
- Commissioning of a hospital building that meets international standards in order to provide standard services and treatment to local communities;
- Increase employment.
As of the 3rd quarter of 2020, the total amount of Golomt Bank’s green loan portfolio was 192,685.9 million MNT, which is 6.4% of the total portfolio. As of the third quarter of 2018, the green loan portfolio accounted for 1.74% of the total loan portfolio, while in 2019 and 2020, the bank was able to increase the portfolio size by 5% by supporting customers’ green projects and programs.
Golomt Bank has been implementing the “Gender Equality Policy” since 2018, creating conditions for gender equality in the workplace, making it possible for every employee to participate in the bank’s activities on an equal footing, and to benefit equally from the organization’s efficiency and development policy. This has increased the importance of preventing discrimination in the workplace, fully implementing the information access and accountability system on an equal footing, fostering a positive and equitable organizational culture, and increasing employee productivity.
In addition, you can learn more about Golomt Bank’s policies and activities that have implemented and are implementing such as the Sustainable Development Policy, the Women Entrepreneurs Support Program, the United Nations Framework Convention on Climate Change, Information Security Policy, Sustainable Development Policy, Environmentally Friendly Business, Sustainable Employment through this report,
Click here to read Golomt Bank’s Sustainable Development Report 2020.