Forum explores new business pathways to sustainable growth
Forum explores new business pathways to sustainable growth
The European Chamber of Commerce (EuroCham) hosted the Green Business Forum 2024 on Friday, gathering industry experts, policymakers, and business leaders to address sustainable practices and environmental strategies in Cambodia.
The event took place at the Sofitel Phnom Penh Phokeethra, with a series of sessions aimed at strengthening green policies and promoting sustainable investments across various sectors.
The forum, themed Building Blocks for Cambodia’s Green Future, was inaugurated by Tassilo Brinzer, Chairman of EuroCham, and featured opening remarks from Phan Phalla, Secretary of State of the Ministry of Economy and Finance (MEF).
The event focused on aligning Cambodia’s industries with international green standards and empowering local businesses to adopt eco-friendly practices through partnerships and innovation.
During his opening remarks, Phan Phalla highlighted the importance of the National Energy Efficiency Policy (NEEP), which aims to reduce Cambodia’s energy consumption by 19 percent by 2030. He noted that the NEEP is designed to enhance competitiveness in key sectors like garments and textiles, construction, and food processing while minimizing environmental impact.
Cambodia’s growth story is one that needs sustainability at its core. The NEEP, along with our collaborative efforts with EuroCham, is essential to achieving green development goals.
The forum featured thematic sessions, including discussions on energy efficiency frameworks, green financing, and pathways to a green future. Keynote speaker Ms. Cécile Dahomé, Co-Founder and Executive Director of Sevea, emphasized the role of energy efficiency in Cambodia’s industrial sector, especially in the garment and textile industry. She detailed Cambodia’s untapped potential for energy savings and presented strategies for integrating renewable technologies across key industries.
In another session, Koen Everaert, Deputy Head of Cooperation at the EU Delegation to Cambodia, presented insights on EU support for Cambodia’s energy efficiency initiatives. He discussed collaborative projects aimed at developing energy performance standards and the establishment of energy service companies (ESCOs) to help factories finance and implement energy-efficient technologies.
An important focus of the forum was on Extended Producer Responsibility (EPR), with Nac Mi, Circular Economy Project Coordinator at UNDP Cambodia, elaborating on the EPR roadmap for Cambodia.
His presentation highlighted how EPR policies can encourage companies to take responsibility for their environmental footprint, from production to disposal. The proposed measures include voluntary EPR phases with goals for recycling and waste reduction, aiming for a mandatory phase by 2026.
The forum also addressed Cambodia’s impending graduation from Least Developed Country (LDC) status and its impact on trade and sustainability. Rada Khoy, an Economist at UNDP, discussed opportunities to align Cambodia’s trade standards with international green business practices as it transitions to a more competitive, sustainable economy.
One of the forum’s key sessions examined financing frameworks critical to achieving Cambodia’s sustainability targets. Mark Selby, Director of Climate Finance at Mekong Strategic Capital, presented the Cambodia Climate Finance Facility (CCFF), a $100 million fund approved by the Green Climate Fund.
The CCFF is designed to provide concessional loans to private sector projects that focus on climate resilience, renewable energy, and sustainable agriculture.
Green financing is the backbone of sustainable development, and the CCFF serves as a pioneering model for channeling funds into Cambodia’s green projects.
The EuroCham Green Business Forum concluded with a panel discussion on the future of Cambodia’s green economy, moderated by Massimiliano Tropeano, EuroCham’s Sustainability Expert.
Panelists, including representatives from the EU Delegation, Mekong Strategic Capital, and industry leaders, discussed collaborative approaches to embed sustainability in business operations, develop green jobs, and promote skill-building in eco-friendly practices.
With over 200 participants, including representatives from the government, the private sector and international organisations, the EuroCham Green Business Forum 2024 underscored Cambodia’s commitment to a sustainable future. The forum provided a platform for knowledge exchange, collaboration, and strategic planning as Cambodia accelerates its journey toward greener economic growth.
