The UNDP, the EU, and the government of Sweden have been working through the Cambodia Climate Change Alliance to support the country in developing multi-sectoral plans with concrete and ambitious commitments to the global climate agenda. What is key now is to accelerate the implementation of these plans. While the government is expected to lead the process, success will depend on concerted efforts by all stakeholders, including the private sector.
Secondly, there is a growing realisation that nature and climate action are opportunities for economic growth and social development. Let’s take the potential for green jobs as an example, the implementation of the National Long-Term Strategy for Carbon Neutrality is expected to generate 449,000 jobs by 2050. In contrast, it is estimated that climate change will reduce the country’s annual average GDP growth by 10 per cent by 2050, if no additional adaptation action is taken. As Cambodia continues its path towards higher middle-income status, the role of the private sector will be increasingly important for investment in nature-based solutions and climate action.