ULAANBAATAR, Mongolia, and WASHINGTON – Verra and Mongolia’s Climate Change Research and Cooperation Centre (CCRCC) (external) today announced a new agreement to support Mongolia’s capacity to develop carbon projects and develop a domestic carbon market. The nonprofit standards-setter and the state-owned enterprise working to implement Mongolia’s climate policies signed a Memorandum of Understanding (MOU) last week to support the development of a domestic voluntary carbon market (VCM) by helping stakeholders gain the relevant expertise and by building capacity for both public and private stakeholders.
“To ensure the effective implementation of the Paris Agreement and the development of the voluntary carbon market mechanism, it is crucial to prepare human resources and enhance the capacity of stakeholders,” said Choikhand Janchivlamdan, director of the CCRCC. “Verra’s capacity-building program aims to increase the understanding of both public and private stakeholders, advancing national commitments to climate change mitigation and adaptation. We aim for the highest possible outcomes to achieve our shared goals through this collaboration.”
“Mongolia has a huge potential for carbon market projects. This opportunity is designed to directly benefit private project proponents and investors by helping them understand the technical and administrative requirements of the VCS Program.”
Verra and the CCRCC aim to support the development of a VCM in Mongolia, with an introduction to Verified Carbon Standard (VCS) Program requirements and a focus on enabling stakeholders to access finance for carbon projects. Specific activities will include a detailed overview of the Verra Registry and guidance on VCS methodology development.
The CCRCC was established by government decree in May 2020 and works under the methodological guidance of Mongolia’s Ministry of Environment and Tourism. Verra is a mission-driven nonprofit organization that supports climate action and sustainable development with standards programs and tools that verifiably drive environmental and social impacts.
Contact:
Media Inquiries: Jeremy Warren | jwarren@verra.org
Program Inquiries: Angelo Sartori | asartori@verra.org
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Verra is a global leader helping to tackle the world’s most intractable environmental and social challenges. As a mission-driven non-profit organization, Verra is committed to helping reduce greenhouse gas emissions, improve livelihoods, and protect natural resources by working with the private and public sectors. We support climate action and sustainable development with standards, tools, and programs that credibly, transparently and robustly assess environmental and social impacts and enable funding for sustaining and scaling up projects that verifiably deliver these benefits.