Research report: Green Financing Policy Implementation in Cambodia
Overall, the study makes 6 key recommendations comprising raising awareness about definitions and criteria for green financing across stakeholders, financial institutions considering international benchmarks to rethink their role and policies, rewarding banks that fully comply with the Cambodia Sustainable Finance Principles (CSFP) of the Association of Banks in Cambodia (ABC), evidence-based research by NBC for use as a reference for the development of regulations and guidelines, and capacity building for policy makers and executioners for effective formulation and implementation of policies.
These recommendations were summarized into 6 key suggestions involving awareness raising, capacity building of stakeholders from regulators to implementors, adopting the newly published ASEAN Taxonomy and conducting evidence-based research.
The study concludes on a positive note highlighting that collaboration across banking and financial institutions can significantly ensure a good climate for large green sustainable development and investments. This will provide employment opportunities and contribute to Cambodia's sustainable developmental progress by implementing environmental and social impact indicators to make loans and funds more accessible to seemingly risky projects.