Press release: Take climate action now for our green environment, economic, social security, and for the future generation

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Phnom Penh, 23 December 2022_Oxfam and Fair Finance Cambodia Coalition members organize a "Youth Debate and Multistakeholder Dialogue on Climate Change, Climate Finance and Green Finance” today in Phnom Penh to promote youth participation, stakeholders’ engagement, and public awareness in addressing the impact of climate change globally and especially in Cambodia.

At the event this morning, held the debate on the the topic “Climate Change is a global crisis, so only the Government needs to take action on climate change.” Two youth representatives, one from Institute for International Studies and Public Policy of Royal University of Phnmom Penh and the other from University of Cambodia came together and delved into the extend of climate change impacts, and the proposed solutions, and actions by key stakeholders. The debate was followed by a multistakeholder dialogue represented by the Ministry of Environment, Mekong Strategic Capital, and Cooperate Committee for Cambodia.

The debate surface perspectives of youth representatives who stressed on the essential roles of Governments at all levels in providing clear strategic policy signals, appropriate regulatory frameworks, and financing; the private sector including financial sector in financing and technology transfer; and Civil society organizations are called to speak up for the voices that cannot be heard from vulnerable communities and nature. In addition, they underlined the interrelationship between climate change and their role as a catalyst for climate justice and accountability. Climate actions were highlighted in the discussion, creating a focus on what needs to be done to elevate the work led by youth to adapt to the climate crisis and enhance their potential to mitigate it. They suggested that their perspectives and needs should be effectively integrated in the design and implementation of National Action Plans (NAPs) in Cambodia.

The youth debate was followed by a multistakeholder dialogue on the topic of “Climate Change Action, Climate Finance and Green Finance.” Key stakeholders including Ministry of Environment, Mekong Strategic Capital, Cooperation Committee for Cambodia were engaged in a constructive dialogue focused on interventions being implemented to support climate change mitigation and adaptation, roles of everyone to support the process, relevant for banks and mainstreaming of climate action within financial institutions.

Ms. Sophoan Phean, Oxfam National Director, said: “It is encouraging to see Cambodia developed solar energy and reduced electricity costs by two-thirds while jumpstarting a transformation away from longstanding dependence on coal and hydroelectric power. Climate change requires sustainable solutions, and this is possible when all the actors, the state, the private sector players, development partners and citizens join hands bringing the needed resources invest in solutions that help the country reduce greenhouse gas emissions by funding renewable power like wind or solar, and communities adapt to the climate change. We are calling for not just political commitments, but the allocation of budget to financing adaptation and mitigation efforts, and collaborations among actors”.

Mr. Ngel Sambath, the moderator of the Youth Debate said: “Children and youths are growing up bearing the brant of climate change, they are the long-term victims of climate change impacts, and key actors. Therefore, they should be engaged to provide their own perspective and to be part of the long-term solution to climate actions. And the time is now. ” Sambath calls for urgent climate actions from CSOs, private sector, financial institutions, policymakers, and the government to solve climate change-related problems.

“The youth activists continue to voice all their concerns via social media, after this workshop, sending messages that all need to care about climate change. The government should enact new laws that limit carbon emissions and require polluters to pay for the emissions that they produce,” said Sambath.

Mr. Tek Vannara, Executive Director of the NGO Forum on Cambodia, said: “The government, development partners and private sectors, should increase its climate finance budget as much as possible down to the implementation at the sub-national level to ensure the present victimized farmers and those who can be victimized by the climate change.”

Climate change has become one of humanity's greatest risks and a high priority of global concern. As the earth continues to heat up, the severity of climate change impacts global socio-economic development and environmental sustainability continues to intensify and amplify, prompting the need to seek urgent solutions. Cambodia will be one of the countries that will be most affected by climate change. In ranking countries vulnerability to climate change impacts and their readiness to improve climate resilience, Cambodia is currently ranked 151st out of 181, based on 2020 ND-GAIN Index. Accordingly to Climate Risk Country Profile Cambodia of World Bank and Asian Development Bank, Cambodia is highly vulnerable to climate change because its economic growth and the livelihoods of much of its population depend on climate-sensitive sectors such as agriculture, forestry, fisheries, and tourism. Agriculture and fisheries alone provide 25% of Cambodia’s GDP and employ 49% of the country’s labor force.

The workshop concludes on a positive note highlighting that addressing climate change is ultimately a political issue and there is a role for everybody. Banking and financial institutions can significantly ensure a good climate for large green sustainable development and investments. Banks are called for no financing of companies involved in new fossil fuel exploration, extraction or infrastructure and no financing of companies involved in the degradation or loss of natural forests or other ecosystems.