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MIK Holding JSC joins the Partnership for Carbon Accounting Financials (PCAF)

December 21st, 2023, Ulaanbaatar Mongolia – MIK Holding JSC, a key player in shaping Mongolia's housing finance system and a driving force in the development of the secondary housing finance market, proudly announces its signatory to the Partnership for Carbon Accounting Financials (PCAF). MIK Group company aims to bring its activities related to sustainable development, sustainable financing and ESG into alignment with international best practices and principles and this membership is a manifestation of its vision and commitment. Moreover, MIK Holding JSC has become one of the few Mongolian companies to have established a Board committee in charge sustainable development issues.    

By joining the PCAF, the MIK Group Company is committed to measure and transparently report the greenhouse gas emissions emitted directly and indirectly from its activities by the standards within three years. Also, it will be an essential step to measure and reduce the adverse effects of climate change by paying attention to the global climate change mitigation goals, nationally determined contributions, and Sustainable Development Goals (SDG) promised by the Paris Agreement.In addition, an interest in impact or responsible investment may increase among international financial institutions and investors.

As a signatory to PCAF, MIK Holding JSC will have a variety of benefits including networking opportunity with member organizations, access to guidance, recommendations, and information on measuring greenhouse gas emissions and development of new products to reduce greenhouse gas emissions thus enhancing its contribution to SDGs.

The Partnership for Carbon Accounting Finance (PCAF) supports and develops cooperation among international banking and financial institutions in calculating and recording greenhouse gas emissions. It develops and implements reporting standards for calculating greenhouse gas emissions uniting more than 450 banking and financial institutions worldwide.

MIK Group Company develops the secondary mortgage market in Mongolia, contributes to the stable and sustainable continuation of the housing finance system, and the implementation of the Government policy for housing the population. In particular, MIK group company issues securities on the domestic and foreign capital markets, is rated by international credit rating agencies, and is the first financial professional financial institution to implement three international ISO standards fully.