Esteemed Finalists,

Congratulations on your selection for the Growth Stage Impact Ventures (GSIV) programme. Your presence here today is a testament to your dedication to sustainable development and a brighter, more resilient future for Cambodia. So I am glad to welcome you all to the training on impact measurement and management.

The context in which we operate is both challenging and ripe with opportunity. The Asia-Pacific region, as showcased in the latest UNDP Human Development Report, is a testament to human progress, with Cambodia leading the way in poverty reduction and development. However, this progress is not without its hurdles. The spectre of climate change, coupled with social and economic inequalities, presents a complex landscape that we must navigate with care, commitment, and innovation. We need to reconcile all human activities with sustainability. For the financial sector, that means that the environmental and social impacts generated by investments and economic activity must be aligned with global goals.

Last month, the UNDP has published the 2024 Regional Human Development Report, in which the Asia-Pacific was highlighted as one of the fastest growing and dynamic regions and Cambodia has been on the forefront by reducing drastically multidimensional poverty. The unequally distributed progress, combined with an uncertain future, shows that we must focus on reducing inequality, vulnerability and human insecurity. One of the paths to do so, which was illustrated in the report is by accelerating climate change adaptation and diversifying the local economy.

As part of the recovery from COVID-19 and of long-term sustainable development, it is vital for Cambodia to attract more and quality investment. The ambitious and forward-looking climate agenda of the RGC can shift Cambodia’s economy to a more resilient and competitive one. Your role in this landscape is critical. As entrepreneurs and leaders of impact-driven enterprises, you hold the keys to unlocking innovative solutions to some of our most pressing challenges. Aligned with Cambodia’s Nationally Determined Contributions and the Cambodia SDG investor map, the Growth Stage Impact Ventures (GSIV) programme is designed to support you in your endeavor, providing you with the tools, knowledge, and networks necessary to thrive and make a meaningful impact.  For the Cambodian edition of the GSIV programme we focused on start-ups operating in climate adaptation: You, nine outstanding finalists, were selected for your contribution to the well-being of our society.

The two day training that commences today is focused on building impact measurement and management (IMM) narratives for the business models that you are implementing. There has been a 264% increase in the number of policy and regulatory green finance measures since 2015. The recently published European Union taxonomy provides an example of a common language and a clear definition for companies, investors, and policymakers on which economic activities can be considered environmentally sustainable. But understanding and effectively managing your impact is not just a matter of compliance or reporting; it is about embedding impact considerations into the very core of your business strategy. It is about ensuring that every business decision you make, is done with a clear understanding of the social, economic, and environmental consequences.

As concerns among governments and investors about the integrity of ESG (environmental, social, and governance) reporting and claims are growing, it is becoming clear that we need a different approach, one that intentionally pursues investments that generate measurable social or environmental impact alongside financial returns.  UNDP’s Impact Measurement and Management approach, that is framed in the SDG Impact Standards, which we will delve into over the course of this training, offers a comprehensive framework for achieving this. It aids practitioners to translate good intentions into actual positive net impact on the SDGs. By adhering to these standards and by using the suggested tools, you can ensure that your enterprise not only contributes to the SDGs but also stands out in a crowded market as a leader in responsible business practices. By demonstrating transparency and accountability, you can increase trust and credibility with shareholders, clients, and other stakeholders. Furthermore, it allows your organization to quantify and communicate your impact in a way that resonates with stakeholders.

During the training over the next two days, I encourage you to engage fully, to ask questions, and to share your experiences. This is a unique opportunity to learn from experts in the field, as well as from each other. The diversity of your ventures—spanning sectors such as energy, agriculture, and construction—provides a rich tapestry of insights and opportunities for collaboration.

Thank you for your dedication to making a difference, I wish you a very insightful training, fruitful discussions and hope you can help us streamline impactful sustainability in the start-up world.

Thank you.