UNCCD COP17, Ulaanbaatar, Mongolia, 27 August 2026—The Asian Forest Cooperation Organization (AFoCO) and the Business Council of Mongolia (BCM) signed a Memorandum of Understanding (MOU) in Ulaanbaatar on 27 August 2026, establishing a framework for cooperation to promote the engagement of the private sector of Mongolia in forest-based climate action. The signing took place at “Restoring Land, Returning Value: Mobilising Investment for Forest Landscape Restoration across Asia,” a side event of UNCCD COP17 in Ulaanbaatar, co-organized by AFoCO and BCM under the UNCCD Business4Land (B4L) initiative. The event brought together government, business, and financial partners — including the Ministry of Environment and Climate Change of Mongolia, EIB, Yuhan Corporation, Oyu Tolgoi LLC and Boreal Company Holdings — to discuss how private-sector commitments can be translated into practical restoration on the ground.
(From left) Dr. Chongho Park, Executive Director of AFoCO; Mr. Tumentsogt Tsevegmid, Chairman of BCM
The MOU was signed by Dr. Chongho Park, Executive Director of AFoCO, and Mr. Tumentsogt Tsevegmid, Chairman of BCM. The partnership supports Mongolia’s national climate and afforestation goals, including the “Billion Trees” National Movement, and the United Nations 2030 Agenda for Sustainable Development.
Under the MOU, the Parties will cooperate in several key areas: engaging BCM member businesses in joint programs that contribute to forest conservation and restoration and enhance forest carbon sequestration; promoting public-private partnership activities that support corporate social responsibility (CSR) objectives and create business value through strong environmental, social, and governance (ESG) propositions; and facilitating networking and partnerships between BCM member businesses and private sector partners of AFoCO, including those of the Republic of Korea, through the Friends of Asia and Asian Forests (FAAF) platform.
Cooperation will also include joint organization of forums, policy dialogues, training, and awareness-raising activities on forest-based climate action, carbon markets, and climate finance, as well as exchange of information, research, and publications in areas of mutual interest.
BCM is an independent, non-profit business association representing a broad membership of domestic and international companies and dedicated to promoting responsible and sustainable business in Mongolia. The MOU will remain in force for three years and may be extended by mutual written agreement of the Parties.
Both organizations look forward to a productive partnership to mobilize private sector engagement for greener, more resilient landscapes in Mongolia.