Phnom penh: Cambodia and South Korea are strengthening their partnership to combat climate change through significant investments in e-mobility, aiming to reduce greenhouse gas emissions and advance Cambodia’s 2050 carbon neutrality goal. This collaboration operates under Article 6 of the Paris Agreement on Climate Change.
According to Agence Kampuchea Presse, South Korean electric motorcycle manufacturer Very Words Inc. is leading the charge, committing to establish electric motorcycle assembly plants and mobile battery charging stations across Cambodia. These investments are part of the Internationally Transferred Mitigation Outcomes (ITMOs) cooperation framework, designed to support Cambodia’s emission reduction efforts.
At a Cambodia-Korea cooperation event held on July 21 afternoon, Dr. Malle Fofana, Regional Director for Asia at the Global Green Growth Institute (GGGI), lauded the Royal Government of Cambodia and its Ministry of Environment for their support of Korean investors and their robust collaboration with GGGI. He underscored the vital role these initiatives play in mitigating greenhouse gas emissions, a primary driver of global warming and climate change.
H.E. Dr. Eang Sophalleth, Minister of Environment, emphasised that this partnership transcends a mere bilateral agreement; it represents a collective global commitment to emission reduction. Despite its high vulnerability to climate change, Cambodia remains steadfast in its resolve to cut carbon emissions. This commitment is crucial for the efficient use of natural resources, enhancing the quality of life for its citizens, and preserving the nation’s rich biodiversity and natural heritage.
The Minister highlighted that Korea’s investment in electric motorcycle production facilities in Cambodia is a forward-thinking commitment that prioritises environmental sustainability and public well-being. He noted that major sources of emissions include the energy, industrial, agricultural, waste management, and transport sectors. In response, the Ministry of Environment, aligned with Royal Government policy, continues its robust efforts to protect the environment and conserve natural resources through a circular economy approach focused on cleanliness, greenness, and sustainability.
Cambodia is currently finalising its Third Updated Nationally Determined Contribution (NDC 3.0), which sets an ambitious target of reducing greenhouse gas emissions by 54 percent by 2035. This is equivalent to approximately 64.6 million tonnes of CO2 annually under both conditional and unconditional scenarios. To achieve this, Cambodia has estimated its financial needs for both mitigation and adaptation measures, requiring significant mobilisation of resources from the Royal Government budgets, private investors, development institutions, and international partners to collectively progress toward the 2050 carbon neutrality goal.
It’s noteworthy that the Ministry of Environment previously signed a memorandum of understanding with GGGI and Very Words Inc. to promote electric transportation and implement innovative initiatives aimed at reducing greenhouse gas emissions and improving environmental quality across Cambodia.