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Pledge
"
In order to shape a world with a sustainable, fair, and poverty-free global economy, it is essential that we join forces to promote, empower, and interconnect Inclusive Businesses. These businesses must embrace cutting-edge, visionary, and transformative social, environmental and governance practices. By doing so, we can cultivate the growth of conscientious, eco-friendly, and ethical supply chains. It is of utmost importance that we assess progress not only through financial metrics, but also through non-financial indicators that authentically recognize, capture and value the positive influences on society and the environment.
Mr. Hassan Hajam
Executive Director & Chief Impact Officer
Platform Impact, Cambodia
My Pledge
1. Policy advisory support:
In Cambodia and across the ASEAN region, Platform Impact is deeply dedicated to spearheading the development of robust policy, regulatory, and legal frameworks. These frameworks are crucial in fostering the emergence of a thriving ecosystem that accelerates the growth of Inclusive Businesses. We firmly believe that by establishing such a solid foundation, we can drive meaningful change and create a conducive environment for the sustainable growth and success of Inclusive Business initiatives. Our commitment lies in paving the way for innovation, collaboration, and the transformation of business practices to achieve a more inclusive and prosperous future for all.
2. Inclusive and sustainable business development:
Platform Impact was established in Cambodia to build the backbone of a best-in-class business ecosystem connecting and providing practical services to entrepreneurs, financial institutions, and governments for accelerating the emergence, pace, and success of Inclusive Businesses and Impact Investing in Cambodia to foster a more equitable, fair and sustainable economy.
At the core of Platform Impact is our commitment to driving the adoption and utilization of impact investment solutions in Cambodia. To achieve this, we have taken the lead in pioneering and launching Cambodia's first Impact Venture Building Program. This program is specifically designed to offer comprehensive, tailored, and hands-on business support and coaching services to carefully selected, screened, and vetted enterprises operating in Cambodia. Our objective is to help these enterprises overcome the credibility hurdle, forge valuable partnerships, and become investment-ready Inclusive Businesses capable of attracting the patient capital they require from Impact Investors in order to elevate their operations to new heights.
The Impact Venture Building Program is a 12-month process that extends personalized, one-on-one services to aspiring Inclusive Businesses. Through this program, we assist these enterprises in developing comprehensive growth plans, elaborating on their positive impact strategies, crafting rigorous financial plans, establishing new business linkages (including procurement, distribution, and sales), and strengthening their governance structures. Our ultimate aim is to make these enterprises eligible, trustworthy, and well-prepared to receive patient capital from Impact Investors, enabling them to efficiently scale their businesses in Cambodia using inclusive approaches.
3. Access to finance:
Platform Impact has already started processes, initiatives and work with the Government of Cambodia to:
• Enact new policy schemes and regulations that reward the positive (non-financial) externalities and impacts generated by Inclusive Businesses operating in Cambodia.
• Establish innovative incentive systems, including tax incentives, to genuinely encourage Inclusive Businesses operating in Cambodia to:
- Include low-income, marginalized, or isolated communities in their company's value chain on the demand side as clients and consumers, or on the supply side as producers, entrepreneurs, or employees, in sustainable ways.
- Develop products, services, and activities that benefit the environment and address issues such as biodiversity protection, land degradation, waste management, pollution reduction, and climate change.
• Create new legal forms that are genuinely useful, relevant, and motivating for Inclusive Businesses in Cambodia.
• Develop and facilitate the establishment of alternative financial instruments in close cooperation with local banks and financial institutions. These instruments should be adapted, customized, and tailored to the needs of Inclusive Businesses, preventing them from mission drifts. They could include patient capital sources, de-risking facilities, blended finance mechanisms, and impact bonds.
• Support Inclusive Businesses in transitioning to more sustainable, inclusive, and fair business models.
• Help vetted Inclusive Businesses acquire the necessary management capabilities, improve their processes, obtain relevant standards/certifications, and achieve operational excellence to reliably integrate global ethical supply chains.
• Facilitate the accurate tracking, measurement, and evaluation of the positive (non-financial) externalities and impacts fostered by Inclusive Businesses in Cambodia. This will enable them to qualify for rewarding schemes from the Government and/or private sustainable/responsible/impact finance institutions.
4. ASEAN Inclusive Business Knowledge hub/centre:
Platform Impact has taken proactive steps to engage with the Government of Cambodia and the United Nations, with the aim of becoming the key prominent representative for Cambodia in an upcoming Inclusive Business Hub. In this role, we will spearhead the efforts, initiatives, and implementation of generating awareness about Inclusive Business (IB). Our objective is to share valuable information on IB policies and initiatives, provide access to IB events and resources, foster a vibrant community of IB experts, and facilitate the establishment of international IB supply chains.
We are fully committed to expediting the process of securing this appointment, and we anticipate significant progress during the Sixth ASEAN Inclusive Business Summit in Bali. This summit presents an ideal platform for us to further showcase our dedication and drive in advocating for Inclusive Business principles and practices in Cambodia.
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