Green Business Forum 2024: A catalyst for Cambodia's sustainable future

Last Friday the Green Business Committee of EuroCham Cambodia organised a key event, the Green Business Forum 2024 at the Novotel BKK. The full-day forum provided a platform for various stakeholders, including government representatives, industry leaders and environmental experts, to converge and discuss the pressing issue of sustainable development in Cambodia.

The Green Business Forum 2024, organised by EuroCham Cambodia's Green Business Committee, brings together a diverse group of stakeholders. These include policy makers, business leaders, companies, experts and representatives from local and international organisations and institutions such as UNDP, IFC and the EU. The aim of the forum is to discuss green business practices and sustainable economic development, and to foster partnerships.

Aligned with the Global Sustainable Development Goals and Cambodia's national commitments, the forum addressed crucial topics such as energy efficiency, green finance, responsible business practices and green jobs. By promoting dialogue and knowledge sharing, the event aims to accelerate Cambodia's transition to a green economy.

Key themes at this year's Green Business Forum included discussions on harnessing Cambodia's potential to reduce its carbon footprint while exploring new business models, public and private sector funding opportunities for green business initiatives, integrating corporate social responsibility (CSR) into core business strategies to align with sustainability goals, and preparing Cambodia's workforce for the future of green industries.

Three speeches in particular caught our attention:

The clear and structured presentation by Cécile Dahomé - founder and managing director of Sevea Consulting, a leading Cambodian consultancy specialising in sustainable development - highlighted the high energy consumption in the Cambodian industrial sector, particularly in the food (including rice and ice cream manufacturing) and clothing sectors. She identified the main barriers to implementing energy efficiency, including high initial costs, limited access to finance and lack of awareness. To address these challenges, it recommended the development of clear energy efficiency strategies.

Koen Everaert, Deputy Head of Cooperation at the EUD, presented Cambodia's National Energy Efficiency Policy (NEEP) 2022-2030. This landmark legislation aims to reduce energy consumption by at least 19% by 2030 compared to a business-as-usual scenario.

‘The NEEP targets specific sectors, aiming for a 20% reduction in the industrial sector, 34% in the residential sector, 25% in buildings, 29% in public services and 5% in transport’, he said.

He also highlighted the fact that ‘the potential benefit to Cambodia of increasing energy efficiency is significant, with an impact in the following three areas:

Economic: Reduced energy costs for businesses and households, increased economic competitiveness, new business opportunities and improved image as a manufacturing destination.

Environmental: Reduced pollution, reduced GHG footprint of products, reduced GHG emissions. - Compliance with international commitments (Paris Agreement).

Social: improved human health and well-being thanks to better cooling, job creation, including skilled jobs in energy auditing’.

Finally, Mark Selby, Head of Climate Finance at Mekong Strategic Capital, gave a simple and concise presentation on green finance, demystifying complex concepts and terminology. He highlighted the recent approval by the Green Climate Fund (GCF) of the $100 million Cambodia Climate Finance Facility (CCFF):

‘The Green Climate Fund (GCF) approved the $100 million Climate Finance Facility for Cambodia (CCFF) at its 38th Board meeting on 5 March 2024.’

The CCFF, Asia's first national private sector climate finance facility, will provide long-term concessional loans to private sector climate projects and wholesale financing to financial institutions in Cambodia. This initiative is in line with the Royal Government of Cambodia's sustainable development and climate policies. The CCFF is the first national private sector climate finance vehicle in Asia, capitalised through the GCF’.

In conclusion, the Forum was an excellent opportunity to learn more about key topics such as:

• Energy efficiency and green financing: Participants explored innovative approaches to improving energy efficiency and securing sustainable financing for green projects.

• Responsible business practices and green standards: The forum focused on the importance of adopting ethical business practices and green standards.

• Green jobs and skills development: Discussions focused on creating green jobs and equipping the workforce with the skills needed to thrive in a sustainable future.

As Cambodia continues its economic growth, the Green Business Forum 2024 highlighted the imperative of balancing development with environmental preservation. By promoting sustainable practices and fostering a green economy, Cambodia can ensure a prosperous future for generations to come.

Experts from the EU, the United Nations and major companies shared their knowledge. The event also included interactive sessions, panel discussions and networking opportunities with a delicious buffet lunch at the Novotel and several coffee breaks, giving everyone the opportunity to connect and learn from each other.

About EuroCham's Green Business Committee:

The Committee is an information exchange and discussion platform that focuses on green industry issues while seeking to provide relevant and constructive policy inputs to the Cambodian authorities. The main objective is to raise awareness of green business practices in Cambodia and to draw public attention to issues that require urgent review. The President is Dr. Sajith Edirisuriya and the Vice-President is Ms. Cécile Dahomé.

For more information, visit their website:

Green Business Committee - EuroCham Cambodia