THE WORLD BANKBRD.IDA WORLD BANK GROUPPolicy NoteINVESTING IN NATURE ASA CLIMATE AND DEVELOPMENTOPPORTUNITY FOR MONGOLIA©2024 The World Bank1818 H Street NW,Washington DC 20433Telephone:202-473-1000;Internet:www.worldbank.orgSome rights reserved.This work is a product of The World Bank.The findings,interpretations,and conclusions expressed in this work do notnecessarily reflect the views of the Executive Directors of The World Bank or the governments they represent.The World Bank does not guarantee the accuracy,completeness,or currency of the data included in this work and does notassume responsibility for any errors,omissions,or discrepancies in the information,or liability with respect to the use of orfailure to use the information,methods,processes,or conclusions set forth.The boundaries,colors,denominations,links/footnotes and other information shown in this work do not imply any judgment on the part of The World Bank concerning thelegal status of any territory or the endorsement or acceptance of such boundaries.The citation of works authored by othersdoes not mean the World Bank endorses the views expressed by those authors or the content of their works.Nothing herein shall constitute or be construed or considered to be a limitation upon or waiver of the privileges and immunitiesof The World Bank,all of which are specifically reserved.Rights and PermissionsThe material in this work is subject to copyright.Because The World Bank encourages dissemination of its knowledge,thiswork may be reproduced,in whole or in part,for noncommercial purposes as long as full attribution to this work is given.Attribution:"World Bank.2024.Investing in Nature as a Climate and Development Opportunity for Mongolia.Washington DC:World Bank."Any queries on rights and licenses,including subsidiary rights,should be addressed to World Bank Publications,The WorldBank,1818 H Street NW,Washington,DC 20433,USA;fax:202-522-2625;e mail:pubrights@worldbank.org.Cover photo:"Sunset over Mongolian valley by Christian Kornacker.Used with permission.Further permission required for reuse.Cover design:Bakus design LLC