Two commune chiefs and tourist boat operators in Kratie province have expressed their dissatisfaction over the construction of Don Sahong Dam, saying people’s living conditions will be getting worse while biodiversity – including rare fish species and dolphins in the lower Mekong River – are facing a threat of becoming extinct in the future if the Lao dam proceeds with its construction.
Category: Cambodia
What’s the Deal with “Sustainable Banking”?
Citizens in the Mekong region are increasingly hearing about “sustainable banking,” mostly associated with infrastructure and energy projects. It means regional banks, slow to commit to sustainability, are increasingly considering more responsible ways of doing business.
Cambodia recently joined Thailand, Laos, Vietnam, China and 20 other emerging market economies in committing to better environmental and social risk management practices under the International Finance Corporation’s (World Bank Group) Sustainable Banking Network. And just this week, the Association of Banks in Cambodia (ABC) announced an initiative promising to work toward sustainable banking principles for Cambodia, “as ways to mitigate the damage associated with infrastructure, energy and large scale agribusiness projects.”
Banking with a positive spin
A banking sector initiative launched yesterday aims to advise Cambodia’s financial sector on best practices for sustainable lending while capitalising on the growing pool of international funds that could flow into green and socially responsible projects.
The Sustainable Finance Initiative will conduct two years of research to identify best practices that can be applied by financial institutions when formulating their lending policies, such as ways to mitigate the damage associated with infrastructure, energy and large-scale agribusiness projects.
Banks Commit to Sustainable Finance
Banks in Cambodia will strive to improve sustainability, and integrate environmental and social safeguards into future business decisions, the Association of Banks of Cambodia (ABC) announced yesterday.
At a ceremony at the Himawari Hotel in Phnom Penh, ABC acting chairman Charles Vann said the association was committed to improving the banking sector.
Cambodian Banks Commit to Developing Sustainable Financing Principles
The Association of Banks in Cambodia (ABC) took a first major step towards sustainable lending practices this week by committing to develop sustainable finance principles and ultimately work towards integrating environmental and social safeguards and lending standards into their business decisions.
Why silt is so important for the Mekong
Just as forests are more than only trees, rivers are more than water. The Mekong river carries massive loads of sediment and nutrients from upstream to downstream and across national borders, replenishing and enriching the land as it goes. This process is key to sustaining the ecological integrity of the river and surrounding landscapes, which in turn supports the economy.
However, a boom in sand mining and hydropower development on the Mekong is transforming the river’s sediment flows, with profound consequences for the region if left unchecked. For a prosperous, sustainable future for the region, all Mekong countries must come together now and adopt international standards for managing transboundary river resources.
General implicated in Prey Lang logging
Newly declared protected areas in Prey Lang forest are being illegally logged by companies belonging to a three-star general and his sister, according to Goldman Environmental Prize-winning conservationist Ouch Leng and NGOs with which he is working.
Leng, along with 15 NGO officers, patrollers and environmental activists, allege the forest in Preah Vihear’s Rovieng district is being logged daily by two companies and hauled to a timber processing facility, known as Factory 95.
Video Calls for Angkor Beer Boycott Over Mekong Dam
Community members worried about a major dam being constructed in Laos released a video this week appealing for a boycott of Cambodia’s number one beer manufacturer, Angkor Beer.
“Stop Don Sahong, Boycott Angkor Beer” claims the 32 meter-high dam now under construction will affect the flow of the Mekong River, destroy fisheries and farmland in Cambodia and the lower Mekong, and affect millions of people in neighboring countries—all to generate only 260 MW of hydroelectricity. Of particular concern is the loss of of the last of the Irrawaddy dolphin’s Mekong habitat.
Civil Society Leaders Meet with Cambodian PM, Receive Support for Ongoing Dialogues
Two key civil society organization (CSO) partners of USAID-supported Mekong Partnership for the Environment (MPE), recently met the Cambodian Prime Minister and were able to earn his support for more formal mechanisms for dialog between civil society and government.
Indian Mining Firm Prepares to Dig Deep in Ratanakkiri
The Ministry of Mines and Energy is set to issue the country’s first commercial underground mining license to Indian company Mesco Gold in two weeks, despite opposition by residents of two villages concerned about compensation and environmental damage.
The company plans to break ground on its concession in Ratanakkiri province’s O’yadaw district in about six weeks, said Harsh Sharma, operations director for Mesco Gold, a Cambodia-based subsidiary of New Delhi-based Mesco Steel.