Insurance industry announces joining ‘One Billion Trees’ national movement

2022-03-18 11:07:52

Ulaanbaatar /MONTSAME/ The President’s Office, the Financial Regulatory Commission and the Ministry of Nature, Environment and Tourism held a meeting with representatives of the insurance sector at the Government House on March 3 to increase the participation of the financial sector in the national ‘One Billion Trees’ planting movement.

The meeting was attended by the President's Economic and Environmental Adviser, the Prime Minister's Environmental Adviser, the Financial Regulatory Commission, the Ministry of Nature and Environment's Forest Policy Department, the Mongolian Insurance Association, the Compulsory Insurance Association, the Insurance Tourists Association, and the Mongolian Assets and Damage Assessors. Also 15 representatives from the general insurance and those from long-term insurance and reinsurance companies have attended.

The President's Economic Adviser, Environment and Green Development Adviser provided information on treating the mother Earth and nature with respect and combating desertification, land degradation, dust storms, climate change, and strategies to implement the Billion Tree National Movement. Representatives of the insurance industry expressed their support by adopting this movement as corporate social responsibility as well as a legacy for future generations. They also contributed their initiatives of establishment of a green insurance fund, the allocation of a certain percentage of the reserve fund to green finance, and the inclusion of forest and steppe zones in compulsory insurance.

Source: Financial Regulatory Commission

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