Cambodia eyes sustainable finance instruments

Training on sustainable finance instruments and thematic bond issuance will be held in Phnom Penh by the end of this month. ESCAP is partnered with the Luxembourg Green Exchange (LGX) and LGX Academy, the world's first and leading exchange dedicated to sustainable finance, to run the training course in Cambodia, ESCAP, according to a concept note on the scheduled training. The Cambodian government has prioritized climate mitigation and adaptation as one of the top priorities in its national development strategy, it said. The funding needed to achieve these goals is substantial. In Cambodia's latest nationally determined contribution (NDC), the government of Cambodia declared that its climate mitigation and adaptation plans would require total funding of roughly $7.8 billion. Although the market is at an early stage of development, the government and private sector consider it an important financing option, and legislation has been established to ensure effective governing of the bond market. (Source: Khmer Times)