Cambodia Investment Review

Cambodia Joins Global Sustainable Finance Efforts at SBFN 8th Global Meeting in Brazil

Cambodia Joins Global Sustainable Finance Efforts at SBFN 8th Global Meeting in Brazil

Cambodia Investment Review

The Securities and Exchange Regulator of Cambodia (SERC) participated in the 8th Global Meeting of the Sustainable Banking and Finance Network (SBFN) in Rio de Janeiro, Brazil, from September 11-12, 2024. H.E. Sou Socheat, Director General of SERC, led the delegation, marking Cambodia’s recent membership in SBFN, which was formalized on August 12, 2024. The event, co-hosted by the International Finance Corporation (IFC), the Brazilian Central Bank, and FEBRABAN, offered a platform for financial regulators to share developments and strategies in promoting sustainable finance.

Cambodia’s Engagement in Global Sustainable Finance

The SBFN is a voluntary community, launched in 2012, with IFC serving as its Secretariat and supported by the World Bank. It aims to gather resources and support members in implementing national sustainable finance initiatives. SERC’s recent membership is a significant step for Cambodia’s financial sector. As one of the 96 members, representing 72 countries, SERC joins regulators and industry bodies from Asia, Africa, Europe, and the Americas to promote the integration of sustainable, environmental, and governance (ESG) practices.

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H.E. Sou Socheat expressed Cambodia’s commitment to advancing sustainable finance initiatives during his speech at the meeting. “In the capacity of the regulator of the securities sector in Cambodia, SERC fully commits to actively participating in driving impactful sustainable finance initiatives in Cambodia and the ASEAN region,” he said. This reflects Cambodia’s alignment with SBFN’s mission to integrate ESG principles at national and regional levels.

FEBRABAN, a platform for financial regulators to share developments and strategies in promoting sustainable finance.

The SBFN 8th Global Meeting featured high-level dialogues and expert discussions on emerging global trends, opportunities, and challenges in sustainable finance across emerging markets. One of the key highlights was the participation of the G20 Sustainable Finance Working Group (SFWG), which provided valuable insights on how emerging markets can contribute to global sustainable finance agendas. H.E. Sou Socheat emphasized the importance of these efforts, saying, “The decisions we make and the actions we take will determine the kind of world our children and grandchildren will inherit. We have a unique opportunity to make a difference, and we must seize it.”

The event also provided a platform for SBFN members to share their progress and discuss strategic priorities. With 96 legal entities representing countries from across the world, the network encourages members to share their experiences in promoting ESG frameworks. Cambodia’s participation in these discussions is seen as an important milestone in the country’s efforts to develop its financial markets and integrate sustainable finance principles.

SERC’s Commitment to Sustainable Finance

SERC’s involvement in SBFN is expected to help Cambodia benefit from shared knowledge and capacity-building resources to promote sustainable finance. The IFC and World Bank’s support of SBFN initiatives provides regulators in emerging markets like Cambodia with the tools to drive ESG integration and long-term financial sector resilience.

As Cambodia’s financial sector continues to develop, SERC’s membership in SBFN will contribute to aligning the country’s regulatory frameworks with global best practices. The meeting concluded with a shared commitment to advance sustainable finance, highlighting the collective effort of global regulators, industry bodies, and experts.

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