Cambodia Investment Review
TheCambodian Ministry of Environment, Korean e-mobility firm VERYWORDS, and the Global Green Growth Institute (GGGI) have signed a Memorandum of Understanding (MoU) to advance sustainable transport solutions in Cambodia. The agreement aims to promote the deployment of high-quality electric two-wheelers, supporting Cambodia’s efforts to reduce greenhouse gas emissions and achieve its climate commitments under the Paris Agreement.
Under the MoU, VERYWORDS will donate 8,000 electric scooter, free of charge, to the Cambodian government for use by public officials. The company will also establish more than 200 charging stations nationwide and provide two years of after-sales service at no cost. This initiative aligns with Cambodia’s Long-Term Strategy for Carbon Neutrality, which targets a 70% adoption rate of electric two-wheelers. The partnership is expected to generate 150 new green jobs and reduce emissions by an estimated 5,040 tCO2e annually.
Strengthening Cambodia’s E-Mobility Infrastructure
As part of the agreement, the Ministry of Environment will oversee the distribution of the e-scooters and assess VERYWORDS’s project, ‘Establishment of Charging Infrastructure for E-Mobility Promotion in Cambodia.’ The Ministry will also collaborate with GGGI and other stakeholders to enhance capacity-building initiatives, ensuring that relevant ministries understand and comply with the Operation Manual for Article 6 of the Paris Agreement.
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GGGI has been providing technical assistance to the Cambodian Ministry of Environment and the Technical Working Group on Climate Change and Environment, strengthening the country’s ability to implement internationally recognized greenhouse gas (GHG) emission reduction projects. The initiative not only accelerates Cambodia’s transition to electric mobility but also supports broader climate mitigation efforts under its Circular Strategy on Environment 2023-2028 and Nationally Determined Contributions.
The MoU highlights the role of international partnerships in fostering climate action. H.E. Dr. Eang Sophalleth, Cambodian Minister of Environment, emphasized that the initiative reinforces Cambodia’s commitment to decarbonizing the transport sector while ensuring all projects adhere to national environmental policies and international agreements.
Advancing Climate Mitigation Through International Collaboration
CEO of VERYWORDS, Mr. Sungwoo Kim, stated that the initiative is part of a broader investment strategy under the Article 6 carbon financing framework, supported by the Republic of Korea. “This partnership aims to not only enhance climate mitigation actions in both countries but also replace air-polluting traditional motorcycles with high-quality, environmentally friendly electric scooters in Cambodia,” he said.
GGGI Cambodia Country Representative, Ms. Shomi Kim, praised the initiative as a milestone in climate investment cooperation between developed and developing nations. She underscored the importance of leveraging Article 6’s financing mechanism to support sustainable infrastructure and ensure the highest level of environmental integrity.
With strong backing from both the Cambodian and South Korean governments, as well as support from international climate organizations, this collaboration represents a significant step toward transforming Cambodia’s urban mobility sector and achieving long-term carbon neutrality goals.
