Big countries need to help climate-vulnerable countries

A deputy governor of the National Bank of Cambodia has called on the world's big countries to do more to help small developing nations mitigate the impacts of climate change.

Chea Serey made the statement in an interview with CGTN on the sidelines of Boao Forum for Asia (BFA) Annual Conference 2023 on March 28 to 31, saying smaller countries lack the necessary resources to go it alone.

"Climate change is everyone's responsibility. I think mother Earth is one boat and we all live on this mother Earth. And so whether it will be big or small, we have to contribute. I just think that a small country feels the impact of climate change more and are more vulnerable to the negative impact of climate change than a bigger country simply because we lack resources to mitigate the impact and to help the country transition," she said.

Serey said the National Bank of Cambodia has been working to promote green transition.

"I think we need more support and assistance from the bigger one for developing countries, not just Cambodia. On the other hand, it doesn't mean that we should sit and wait and do nothing and that's what we Cambodia and the National Bank of Cambodia has been trying to do all the wireless to contribute and play a role in this regard. We have done, first of all, we did a risk assessment on the impact of climate change on the financial system. We are also now working on developing a roadmap on sustainable finance and also developing a taxonomy for the country," she said.

Approximately 3.6 billion people are highly vulnerable to climate change, with many of them living in Africa, South Asia and Central and South America, the UN estimates.

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