Minister of Environment Disseminates Five Key Points of Outcome of the 26th UN Summit on Climate Change
PHNOM PENH: Speaking at the meeting to disseminate the results of the 26th Summit of the Parties to the United Nations Framework Convention on Climate Change, Minister of Environment, Say Sam Al, has said that the main purpose of the meeting was to disseminate the main results of the COP26 work meeting held in the United Kingdom from 31 October to 12 November 2021.
The Minister of Environment has highlighted 5 important points.
First, Carbon Sales Mechanism: Currently, Cambodia has been successful in selling forest carbon loans from the REDD + project, and the proceeds will be used to protect the forest and improve the living standards and well-being of local people. The Ministry of Environment is also preparing procedures to provide financing from the sale of this carbon to the sub-national level, which will be the direct implementer in the future
Second , encourage the sub-national level to participate in the upcoming CoP meeting, which is an opportunity to mobilize climate financing resources for local development, and to look at opportunities for bilateral cooperation from other countries. Currently, Cambodia has a lot of potential to get funding from the Climate Change Fund through small projects at the sub-national level that respond to climate change. The Ministry of Environment encourages and is ready to cooperate with district and provincial administrations in preparing applications for the use of this fund package for natural resource conservation and local development.
Third, Banking: We can take advantage of low-interest financing opportunities in connection with the environment and green development.
Fourth, Climate change has become a political and economic issue, so we should strengthen national and international outreach on Cambodia's efforts to respond to climate change and environmental issues.
And the fifth, Incorporation or feeding of the results of important meetings into the national strategic plan policy.
