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What’s the Deal with “Sustainable Banking”?

By Nantiya Tangwisutijit

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

By Nantiya Tangwisutijit

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

By Nantiya Tangwisutijit

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.

Why silt is so important for the Mekong

By Nantiya Tangwisutijit

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

By Nantiya Tangwisutijit

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

By Nantiya Tangwisutijit

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.

Indian Mining Firm Prepares to Dig Deep in Ratanakkiri

By Nantiya Tangwisutijit

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.

Into the Zone: SEZs in the Mekong Region, Income…or Instability? (Part 1)

By Nantiya Tangwisutijit

The Mekong region is abuzz with news about special economic zones (SEZs). From Thailand’s prime minister telling US business leaders that the Kingdom’s SEZs are a cornerstone to his economic reforms, to Ho Chi Minh City’s mayor wanting 890 km2 designated as an SEZ to revive his city’s economic leadership, to Myanmar’s newly elected government facing increasing pressure to review the outgoing-junta-approved SEZs now underway there—these foreign-investment magnets are picking up steam as ASEAN integration progresses within the Greater Mekong Subregion.

But what’s so special about these zones? Can they unlock new pathways to region’s economic potential, or as the Bangkok Post warned recently, should policy-makers proceed with caution given the immense complexities to securing SEZs’ desired benefits?