The Credit Guarantee Corporation of Cambodia (CGCC) yesterday teamed up with the Biogas Technology and Information Center (BTIC) to promote investment of commercial biogas technologies to combat climate change.

The BTIC was jointly established by the Royal University of Agriculture and the United Nations Industrial Development Organization (UNIDO) through the project “Reduction of Greenhouse gas emission through Promotion of Commercial Biogas Plants.”

The CGCC and BTIC signed the Memorandum of Understanding yesterday and agreed to identify opportunities for collaborative activities and programmes to assist biogas technology and investment through appropriate risk-sharing facilities and to take forward identified collaborative opportunities in bridging knowledge gaps of the biogas value chain among partners and relevant stakeholders.

In a statement released yesterday, it said that the initiative will support and enable access to financial resources for commercial biogas technology investment for the interested investors or promoters.

With such enabling investment environment, it will foster the adoption and implementation of commercial biogas technologies in the livestock sector and agro-processing industry which will provide great potential for the sectors in harnessing wastes to energy and in complying with bio-security systems, sanitation, and environmental safeguards such as preventing odour and water pollution.

It said that the cooperation will enable farmers, rural communities and agribusinesses to improve their livelihoods and increase business profitability in a good and sustainable manner.

Wong Keet Loong, CGCC Chief Executive Officer, said, “This MoU signing with BTIC is a step towards CGCC’s Environmental, Social and Governance (ESG) strategies to support the growth of the agriculture sector which is one of the key priority sectors in Cambodia.”

“This sector is the main source of local employment and income in the rural areas. As the agriculture sector is the second largest source of greenhouse gas (GHG) emissions, it will cause climate changes such as extended monsoon rainfalls and higher temperatures will have negative effects on this sector. Thus, the importance of reducing climate change is critical for the sustainability of the agro-processing and livestock industry,” he said.

CGCC intends to work with FIs who are supportive of providing Green Financing to support the commercial biogas technologies to assist in reducing greenhouse gas emissions, it said.

With the technical expertise and support from BTIC in biogas technology, CGCC is committed to working with other stakeholders to promote access to financing clean energy.

BTIC director Lor Lytour said, “The MoU will enable all key actors, including BTIC, CGCC, and its bank partners as well as other stakeholders to work together closely and more effectively on a number of key priorities to deliver the response to the needs of Cambodia agribusiness in uptaking this biogas technology which is proven as an effective and integrated waste management solution.”

“We believe this partnership will foster the long-term growth in commercial animal production and agro-processing by promoting alternative and renewable energy and proper waste management while contributing to the government’s commitment to combating climate change,” he added.

UNIDO’s Country Representative Narin Sok said that investment in this type of clean energy will generate a great potential of economic, environmental, and social benefit to the users, farm owners, investors, and society.

Credit to: Khmer Times, Published on 25 January 2022

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