Cambodia has committed its support for a regional initiative to develop a programme that abets home-grown innovative entrepreneurs with climate tech solutions, according to an official at the Ministry of Environment.
The pledge was made at the “Asia-Pacific Regional Seminar on Green New Deal Projects: Climate Finance, Technology, Entrepreneurship” co-organised by South Korean-based Global Green Growth Institute (GGGI) with state-owned Korea Development Bank (KDB Bank) and hosted by the South Korean Ministry of Economy and Finance on March 2.
GGGI said in a press release: “The initiative emerged as a result of common goals among the Korean government, Green Climate Fund [GCF], KDB Bank and GGGI to explore effective and collaborative ways of climate technology development and transfer in response to adverse impacts of climate change in Asia-Pacific countries, especially amidst the Covid-19 crisis.
“GGGI has been working with KDB, a Korean Accredited Entity to GCF, and National Designated Authorities [NDA] in Cambodia, Indonesia, Lao PDR and the Philippines, to develop a programme for supporting innovative local entrepreneurs with climate tech solutions and promoting climate tech ecosystems that will accelerate the low carbon and climate-resilient green growth.”
Speaking at the seminar, Sum Thy, deputy head of the Cambodian environment ministry’s General Secretariat of the National Council for Sustainable Development, said the Kingdom would support the initiative through Khmer Enterprise (KE) – an implementation unit of the Entrepreneurship Development Fund (EDF) established by the Ministry of Economy and Finance.
He said in the press release: “The Ministry of Environment would be happy to facilitate cooperation between our international partners and relevant entities in Cambodia.”
KE CEO Chhieng Vanmunin shared the enterprise’s role in providing “whole lifecycle support” for budding entrepreneurs with promising business ideas.
With electricity access near the Kingdom’s lakes limited, he stressed an overwhelming need for solar energy.
Making the first opening remark, Choi Ji-young, director of the Korean finance ministry’s Green Climate Policy Division, said: “The Korea[n] government will continue to support a green transition of the economies in the Asia-Pacific region in two aspects.
“[These are] reinforcement of technical and project support in the areas of the green new deal in cooperation with partners and solidification of international cooperation to induce synergy and global climate action.”
GGGI director for Asia Kim Jin-young welcomed the “mutually rewarding discussions” on green recovery solutions, saying: “GGGI is in a very privileged position to support this important initiative together with all participants today.”
In the closing remarks, Choi Ho, general manager of KDB Bank’s Environmental, Social and Governance-New Deal Planning Department, said: “KDB is eager to partner with you all in promoting meaningful GCF initiative as an accredited entity jointly working with GCF to develop a technology-focused programme.”