Cambodia’s Ambitious Climate Agenda Requires US$7.8 Billion for Implementation

• 12 August 2023
• Local News
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Cambodia has set its sights on robust climate change protection, with a financial requirement of approximately US$7.8 billion to realize its commitments under the United Nations Framework Convention on Climate Change (Nationally Determined Contribution: NDC). HE Tin Ponlok, a key advocate for Cambodia’s environmental priorities, emphasized this need during a productive bilateral working meeting with the Green Climate Fund (GCF) on 8 August 2023.

Highlighting the nation’s firm dedication to combating climate change, HE Tin Ponlok underscored the comprehensive approach embedded within Cambodia’s new pentagonal strategy. This strategy encompasses both adaptation measures and ambitious plans for reducing greenhouse gas emissions.

In order to actualize its NDC, Cambodia seeks a substantial financial injection of US$7.8 billion, directed towards a range of climate change prevention projects. Concurrently, the nation requires an allocation ranging from US$500 million to US$1.8 billion to execute a far-reaching carbon-neutral long-term development strategy.

Addressing the GCF, HE Tin Ponlok presented a plea to prioritize a selection of pivotal projects. These include the establishment of the Cambodian Climate Finance Fund, the elevation of private banks to positions of priority, the facilitation of GCF accreditation for climate-resilient infrastructure projects like rural roads, as well as ventures related to climate adaptation and sustainable agriculture.

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