The "Nature Conservation Fund" was established by the State Great Khural Resolution 188 adopted in 1998 based on Article 34 of the Law on Environmental Protection. The organization and staffing of the fund have renewed by Resolution 189 of the Government of Mongolia in 2012.

Subsequently, the "Nature Conservation Fund" was reorganized as "Environment and Climate Fund (ECF)" following the decision of the State Great Khural session held on February 9, 2017.