USAID GREEN INVEST ASIA QUARTERLY PROGRESS REPORT

A total of 142 companies have expressed interest in working with the Activity, with 28 projects currently in the "active pipeline" stage. These projects are linked to agriculture and forest commodities, with six partnering with financial institutions to improve the investment environment or ESG standards. The Activity has ongoing technical assistance to 21 projects, while technical assistance to six projects is completed. The Activity has signed four new Memoranda of Understanding (MOUs) with companies, including Fairventures Social Forestry, Rubber Trust Fund, HUSK Ventures, and Lagenda Aktif. These companies are engaged in various sectors, including social forestry, rubber production, organic biochar, and sustainable forest management. The Activity has also received EOIs from three financial institutions, including the Yield Lab, Crowde, and PG Impact. These institutions have expressed interest in collaborating with the Activity to improve E&S standards and support deal transactions. The Activity has completed initial screening of six financial institutions in Cambodia, including RD Bank, Foreign Trade Bank, Canadia Bank, Hong Leong Bank, Kasikorn Bank, and SBI Ly Hour Bank. The Activity has contributed to the following high-level targets: 6.7 million tons of CO2e will be reduced, sequestered, or avoided within 15 years of project implementation, and $27.75 million has been mobilized, with the improved management of over 101,000 hectares of agriculture and forest land. The Activity anticipates additional investment and projected GHG emissions avoided/sequestered/reduced for the next quarter. The Activity supports projects with multiple commodities, including intercropping, which involves planting more than one commodity. Interest in successful models for inter-cropping is high among companies seeking support from the Activity. Biomass is also a sector with high demand for technical assistance, with companies such as Otago and Husk Ventures in Cambodia, Biomass Fuel in Vietnam, and Citicore Candlewick in the Philippines expressing interest. The Activity has ongoing engagements with multinational corporations such as Barry Callebaut, Harmless Harvest, and companies like Kennemer, Agronomika, CocoPallet, Puratos Grand-Place, and Viagrico, located in the Philippines, Thailand, and Vietnam. Timber companies in the pipeline include Grandis Timber, Cambodia Teak, Lagenda Aktif, and Fairventures, located in Cambodia, Malaysia, and Indonesia. The Activity has also organized and participated in various events, including the fourth sustainable coconut roundtable, a webinar with the Association of Banks of Cambodia, and a panel on sustainable sourcing for the fourth annual Sustainability for Business Forum in Thailand. The Activity has shared learning with partners and key stakeholders through write-ups on topics such as USAID facilitating working capital loan, debt facility for Ibis rice in Cambodia, and private sector launching coconut industry's first sustainable charter. The Activity has a list of companies in various pipeline stages, which is included in Annex I. The Activity has also reported progress against key targets, including the mobilization of $27.75 million and the reduction of 6.7 million tons of CO2e within 15 years of project implementation.