2 July 2024, Ulaanbaatar
The Green Technology Selector, or GTS, a flagship service of the EBRD’s Green Economy Financing Facility (GEFF) projects, implemented in over 38 countries where EBRD operates, has been winning market recognition in Mongolia, where GEFF has been implemented since 2019.
The GTS is an ever-evolving vendor-driven list of high-performing green technologies that can be used in all sectors of the economy. Moreover, the GTS is set to facilitate green technology transfers in all EBRD countries and beyond. In Mongolia the list of green technology items has been growing dynamically during the past two years and now contains over 800 types of technologies available on the Mongolian market. These technologies present a wide variety of items including energy-saving windows and doors, thermal insulation systems, boilers, motors and pumps, lighting, construction materials, transport vehicles, domestic appliances etc. The number of GTS-registered local vendors, including producers and importers in Mongolia has doubled this year to more than 150 companies.
A GTS-certification means that a product becomes automatically eligible for financing with green loans issued by Khan Bank and XAC Bank under the framework of EBRD’s GEFF.
“The Mongolian GTS contains energy-saving green technologies available on the Mongolian market and verified by GEFF engineers. This allows GEFF partner banks to quickly approve green loans used to purchase these technologies. The GTS contributes to the sustainable growth of markets for green technologies and green finance,” says Stanislav Dubko, the GEFF Mongolia Facility Consultant Team Leader.
The EBRD’s web-based tool assists manufacturers and technology vendors in expanding their markets and sales as well as supporting their marketing of green products. One of such local manufacturers who has joined the GTS is Tsonkh Construction LLC, a local manufacturer of windows. The General Accountant of the company, Tsolmontuya Purevsamdan is pleased with the results. “Acquiring the GTS certificate has strengthened the recognition of our product and the image of our organization as an energy-saving windows manufacturer. The GTS certificate is a valuable addition to our green product acknowledgements and has aided in raising market interest in our products and helping our customers in securing green loans,” says P.Tsolmontuya. According to her, the GTS certificate is recognized even by the non GEFF partner banks and other financial institutions, like the Turiin Bank and Transcapital.
“The GTS development is strongly driven by vendors, who are expected to regularly maintain their product offerings themselves,“ notes Sergei Kishchenko, the senior engineer with GEFF Mongolia. “The GTS registration increases their status and the sales opportunities.”
On the other hand, the GTS increased the accessibility of green techs and made it easier for customers to find various needed technologies from one source. Since GTS certification serves as ‘eligibility evidence’ for green financing, access to funding has become easier and quicker.
The GTS is an impactful tool helping to address EBRD’s Green Economy Transition Strategy and clients’ business priorities to aid countries in reducing carbon footprints and fulfilling their Nationally Determined Contributions, the promises made under the Paris Agreement. Mongolia’s climate mitigation targets aim for a 22.7 percent reduction in total national greenhouse gas emissions by 2030.
Supported by:
