Phnom Penh: Cambodia is one of the most vulnerable countries to climate change, among many others, but Cambodia has transformed the challenge into an opportunity to achieve sustainable development of the international environmental cycle strategy and resilience to climate change.
This is the statement of Dr. Eang Sophallet, Minister of Environment While presiding over the opening ceremony of the “Capacity Building and Knowledge Sharing Workshop on Sustainable Financial Reporting Standards (IFRS) on May 26, 2026, held at the Hyatt Regency Phnom Penh Hotel.
Seizing the opportunity, the Minister highlighted that under the leadership of His Excellency President Hun Sen, Prime Minister of the Kingdom of Cambodia, the Pentagon Strategy Phase 1, has put sustainable development at the core of economic transformation. In line with this direction, the Ministry of Environment has launched the “Environmental Sector Chakra Strategy” which focuses on three pillars: cleanliness, greenness and sustainability. To achieve Cambodia’s sustainability, the Royal Government has prepared the National Climate Change Contribution Plan for Cambodia, Phase 3 (NDC3.0) under the United Nations Framework Convention on Climate Change (UNFCCC).
The specific target of reducing greenhouse gas emissions by 55% by 2035, which will require more than US$32 billion in green investment over the next ten years, is an important mechanism for mobilizing financial resources from committed developed countries.
To date, the total capital pledged and mobilized under the GCF mechanism has exceeded US$30 billion. Therefore, jointly creating “innovative financial instruments” to build Cambodia towards a clean, green, resilient and sustainable future is the main focus of the “Capacity Building and Knowledge Sharing Workshop on Sustainable Financial Cycle Systems and IFRS Sustainability Reporting Standards.”
