Cambodia Needs up to US$2b Fund to Reduce Greenhouse Gas Emissions

• 16 December 2022
• Local News
• 1516 Views

Cambodia needs approximately a US$500 million to US$2 billion fund to implement multiple strategic plans to reduce greenhouse gas emissions. 

HE Tin Ponlok, Secretary of State of the Ministry of Environment said during a meeting with the French Agency for Development (AFD) on  15 December, that this is part of the government’s plan to achieve carbon neutrality by 2050. 

This amount of funding will be used to implement a number of policies and strategic plans to respond to climate change, such as the CCSP (2014-2023) Long-Term Strategy (LTS4CN) NDC, with a focus on emissions reduction and adaptation. 

At the same time, in reducing greenhouse gas emissions, Cambodia also encourages the participation of all stakeholders, research institutions and the private sector to promote climate action in Cambodia. 

The private sector shall also consider investing in climate change and environmental/green technologies that can contribute to sustainable development and improve people’s livelihoods. 

In this meeting, Cambodia also asked the French side to consider increasing green financing/climate financing within the framework of bilateral cooperation. 

• Energy and Environment