Phnom Penh, Cambodia – The Cambodian Ministry of Environment, VERYWORDS, and the Global Green Growth Institute (GGGI) signed a Memorandum of Understanding (MoU) to promote the deployment of high-quality and environmentally friendly electric two-wheeler in Cambodia, contributing to the greenhouse gas emission reduction targets of the Royal Government of Cambodia and the Republic of Korea.
Through this MoU, VERYWORDS, a Korean e-mobility and carbon neutrality platform company which runs a $2 million electric scooter assembly plant in Kandal province and has created at least 60 direct green jobs, will donate 8,000 e-scooters to the Cambodian government, free of cost and conditions, for use by public officials. The company will also establish more than 200 charging stations to support its operation. These contributions have been estimated to generate emission reductions of an average of 5,040 tCO2e per year (estimated 40 km average annual distance covered per vehicle) and to create 150 new green jobs. In addition to supporting Cambodia’s ambitious transport electrification targets of deploying 70% electric two-wheelers in its Long-Term Strategy for Carbon Neutrality, this MoU is a major step towards implementation of internationally recognized GHG emission reduction projects in Cambodia.
The Ministry of Environment will facilitate and supervise the distribution of e-scooters, as well as assess VERYWORDS’s project, ‘Establishment of Charging Infrastructure for E-Mobility Promotion in Cambodia’. In addition, the Ministry, in collaboration with partner entities such as GGGI, will provide capacity-building support to various ministries to increase awareness of GHG emission reduction projects and ensure compliance with the Operation Manual for the Implementation of Article 6 of the Paris Agreement on Climate Change, as well as the rules, regulations, and instructions of the Royal Government of Cambodia.
To date, GGGI has been supporting the Cambodian Ministry of Environment in building the country’s Article 6 readiness by providing technical assistance to the Cambodian Ministry of Environment and the representatives from various ministries sitting on the Technical Working Group on Climate Change and Environment.
H.E. Dr. Eang Sophalleth, Cambodian Minister of Environment, said, “Cambodia’s ambitious climate targets are supported by innovative solutions aimed at decarbonizing key sectors. This MoU reinforces our commitment to reducing greenhouse gas emissions in the transport sector, aligning with our Circular Strategy on Environment 2023-2028, Nationally Determined Contributions, and Long-term Strategy for Carbon Neutrality. It also advances the adoption of electric vehicles across the country.” He also confirmed that all internationally recognized GHG emission reduction projects will need to adhere to the Operation Manual on Implementation of Article 6 of the Paris Agreement on Climate Change in Cambodia, in addition to all rules and regulations of the Royal Government of Cambodia, without jeopardizing the integrity and sovereignty of the country.
In addition to free e-scooters and charging stations, VERYWORDS will also provide after-sales services for two years at no cost. Mr. Sungwoo KIM, CEO of VERYWORDS, said, “Through the
Article 6 carbon financing framework, we made a bold investment decision to supply 8,000 e- scooters to Cambodian officials, enabled by the support from 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, accelerating the growth of the e-mobility industry.’’
Ms. Shomi Kim, GGGI Cambodia Country Representative, said, “As a trusted advisor to the Cambodian government, GGGI is proud to support this pioneering initiative. The collaboration under the A6 framework accelerates global climate mitigation outcomes by channeling climate investment from developed countries to developing countries. With this innovative financing mechanism, using the robust rules offered by Article 6 to ensure the highest-level environmental integrity, I am thrilled to witness the swift implementation of the infrastructure development and deployment of electric vehicles. I appreciate all parties involved – Cambodian government and the government of the Republic of Korea for their common interest in working together to implement internationally recognized GHG emission mitigation projects, as well as VERYWORDS as a project proponent – for driving practical and sustainable solutions to advance the EV industry in Cambodia.’’
