Environmental, social and corporate governance reporting

Mongolia • No. 07/2022 • October 2022

Environmental, social and corporate governance (“ESG”) reporting requirements have been introduced in Mongolia under the Corporate Governance Code (Renewed Version) (“Code”) approved by the Financial Regulatory Commission (“FRC”) on 23 May 2022 and the Regulation on Information for Public Disclosure by Issuer adopted by the Mongolian Stock Exchange (“MSE”) on 10 May 2022. Moreover, FRC, MSE and other development partners released “The ESG and Sustainability Reporting Guidance for Mongolian Companies” in August, 2022. 

Introduction of the ESG disclosure and reporting requirements and guidance aims to bring Mongolian market practice in line with international standards and improve transparency and disclosure for the public, investors and other stakeholders.

Who will be affected?

Mandatory public disclosure on ESG-related matters:

  • Public companies
  • Insurance companies
  • Non banking financial institutions that offer savings trust service 
  • Investment management companies

Voluntary disclosure on ESG-related matters: Whilst not required by the law, the Code recommends companies other than those mentioned above to voluntarily disclose ESG related matters.  

What has changed?

1. Mandatory public disclosure on ESG matters

2. Voluntary ESG reporting

What to disclose?

Environmental matters

Social matters

Governance matters

How can we help? 

Tax services

Legal services

Assurance services

Advisory services

Contact us

Tsendmaa Choijamts

Director, Tax and Legal services, PwC Mongolia

Tel: +976 70009089

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