In advance of the Green Business Forum, we spoke with Dr. Sajith Edirisooriya, chairman of the Green Business Committee to get his thoughts on sustainability and what participants can expect to learn at the 9 June forum.

EuroCham: As Chairman of the Green Business Committee, can you give us a glimpse of why the EUROCHAM Green Business committee planned this forum?

Dr. Sajith: EuroCham has been hosting the Green Forum for the last couple of years and this time the theme is: “Pioneering innovation for sustainable future”. Sustainability is no longer an option, but a necessity, and it is crucial to consider how to create economic growth while protecting the planet for future generations. To match the sustainability ambitions of Cambodia, innovation in green business sector is critical.

This Green Business Forum aims to provide a platform for sharing knowledge and lessons learnt on the best policies, incentives, practices, institutional arrangements, and financing modalities that can best support rapid green business development in Cambodia.

EuroCham: You work for one of the largest locally grown businesses in Cambodia, Chip Mong Group. How does such a large company balance growth with sustainability?

Dr. Sajith: I currently work at Chip Mong Insee Cement Corporation which is one of the largest cement players in Cambodia. We have very clear sustainability targets and always keep our business strategy aligned with sustainability targets. Sustainability, is in fact, integrated into our company’s operation. Our business model is embedded with a sustainability agenda and we try to create value for our customers through sustainable means. This enables us to gain a competitive advantage over the competition as sustainability is part and parcel of our value propositions to customer. Indeed, we involve our staff and stakeholders to hit sustainability targets.

EuroCham: What trends in the green sector are you most excited about?

Dr. Sajith: Some of the following areas are key trends shaping the sustainability culture and will help promote green sector growth.

1. Climate action – We need to reduce CO2 emissions and moving to renewable energy is pivotal to hit sustainable targets. The transition to renewable energy is expected to continue as actions to reduce carbon emissions continue to be a priority for companies, consumers, investors, and governments.
2. Circular economy – Moving from a linear world to a circular world is not only a way to decouple economic growth from resource use and avoid unnecessary waste, itis also a powerful tool to reduce emissions and build resilience to climate change. Resource scarcity, price volatility, environmental damage, cost reductions and reputational gains are powerful drivers for a better transition to a circular economy.
3. Resource security – In a world heavily dependent on resources extracted in developing countries, eco-innovation and multi-sectoral collaboration are key to reducing the cost of resource and energy- saving technologies. These countries need to improve resource efficiency to achieve sustainable development and green growth.
4. Environmental pollution – As environmental concerns grow globally and threaten public health, more and more businesses are seizing opportunities to decarbonize their supply chains, logistics, and portfolios, while seeking innovative and cleaner products, services, and technologies.

EuroCham: What’s the biggest hurdle, in your mind, to advancing green initiatives in Cambodia?

1. Going beyond compliance with environmental standards, to create value for businesses. The companies have to go beyond compliance and derive greater value from all these green initiatives. This will help create long-lasting sustainability and investments in compliance will be converted into returns.
2. Integrating sustainability into company strategy and operations is key to avoid ad hoc approaches and create longer-term solutions. Overcoming this problem requires taking sustainability efforts out of their silos turning sustainability into a permanent strategy.
3. Converting a sustainability program into a long-term engine for competitive advantage, which requires stakeholder engagement at all levels. In the end, this will lower costs and improve environmental credibility.
4. The government could incentivize green initiatives and create more favorable legislation that may help attract green investments. 

EuroCham: What does the Green Business Committee hope to achieve with the Green Business Forum?

Dr. Sajith: The goal of the forum, organized by the Green Business Committee of EuroCham, is to identify and exchange examples of green value chains, responsible business practices, and concrete green financing solutions in the Kingdom. These sections are interconnected by one important “fil rouge”: innovative and sustainable ways of doing business.