Phnom Penh, Cambodia – 24 March 2025 – The General Directorate of Agriculture (GDA) of the Ministry of Agriculture, Forestry and Fisheries, GGGI’s Methane Mitigation Project funded by ASEAN-Korea Cooperation Fund (AKCF), and ThanksCarbon organized the “Green Finance for Green Fields” workshop in partnership with the Agriculture and Rural Development Bank (ARDB) to explore climate resilience strategies for rice farming and to promote sustainable agriculture in Cambodia.

While the country is among the most vulnerable countries to the effects of climate change and extreme weather events, the farmers have been facing challenges such as limited access to modern technologies, markets, fair pricing, and infrastructure. However, the country has demonstrated a strong desire to develop innovative, sustainable solutions to these issues. In line with this, new mechanisms, such as Alternate Wetting and Drying (AWD), the use of low-emission rice varieties, rice residue management, and carbon financing, can be further explored to promote more sustainable rice production and reduce methane emissions from the agricultural sector.

H.E. Khy Kosal, Under Secretary of State, Ministry of Agriculture, Forestry and Fisheries, opened the workshop. He shared that the country must embrace new financial solutions that empower our farmers and enhance resilience. He also emphasized that “Carbon finance is one solution that should be leveraged for the agriculture sector in Cambodia”.

Following the orientation session, Ms. Anantaa Pandey, Senior Program Officer at GGGI, presented an overview of the ASEAN-Korea Cooperation on the Methane Mitigation Project, followed by a case study of ThanksCarbon’s Battambang AWD Project, presented by Dr. Yorn Try, Deputy Director General of the General Directorate of Agriculture, and Mr. Thav Sopheak from the Royal University of Agriculture. The case study demonstrated that sustainable rice farming through AWD not only decreases methane emissions but also reduces the severity of diseases and the rate of lodging. Mr. Tyger Lee, CTO of ThanksCarbon, presented the robust Monitoring, Reporting, and Verification (MRV) system in place to generate high-quality carbon credits through the implementation of AWD.

After presenting the success of the Battambang AWD project, which contributed to increased yield, reduced diseases, insect pests, and lodging, Mr. Cooper Park, founder of ThanksCarbon, shared his ambitious scale-up plan to implement AWD over 500,000 hectares by 2030. With the reliable AI-based MRV technology implemented by ThanksCarbon, he showed optimism about generating high-quality credits and attracting significant carbon finance, which can contribute to supporting farmers by building capacity and subsidizing necessary tools and resources for the sustainable implementation of AWD in Cambodia.

A vibrant panel discussion then followed moderated by Dr. Yorn Try, Deputy Director General at the General Directorate of Agriculture, under the theme “Empowering Farmers Through Green Financing,” exploring how financial instruments like carbon finance can build resilience in agriculture.

Responding to the question on innovative financing models for the agriculture sector in Cambodia, Ms. Shomi Kim, GGGI Cambodia Country Representative, stated, “Carbon finance is not just about reducing methane emissions, it could provide financial incentives to farmers to move towards climate-resilient practices while increasing the rice yields. Together, we can scale green solutions such as AWD and transforming agriculture waste to resources to help Cambodia’s agriculture sector to accelerate climate mitigation initiatives. GGGI is committed to supporting these efforts and establishing partnerships that create real and long-term impact in sustainable agriculture practices.”

In conclusion, the workshop highlighted the need for tailored financial products to enable climate-smart agriculture techniques. As climate-related risks continue to affect the country’s agricultural sector, integrating carbon finance into national policy is more important than ever. The workshop also provided a vision of how the widespread adoption of AWD could empower farmers to thrive amidst a changing climate, while leveraging carbon finance to sustain long-term progress.