PRESS RELEASE: Wing Bank Partners with FootprintLab to Launch Cambodia’s First ESG-Linked Banking Solution
Phnom Penh, Cambodia – April 22, 2025 – Coinciding with Earth Day, Wing Bank has announced a groundbreaking partnership with FootprintLab to accelerate climate-conscious financial behavior in Cambodia. This collaboration represents a bold step forward in both financial inclusion and environmental responsibility, and will enable the integration of ESG (Environmental, Social, and Governance) accounting into everyday banking—a first-of-its-kind initiative in the Cambodian market.
Marking this milestone, Wing Bank and FootprintLab officially signed an Agreement, setting the foundation for a shared mission: empowering both businesses and individuals to take meaningful climate action through their financial decisions.
The collaboration began after the two organizations first connected at Money20/20 in 2024, and has now evolved into a forward-thinking partnership that blends Wing Bank’s proven commitment to innovation with FootprintLab’s expertise in climate data.
“This partnership is about more than technology—it’s about leadership,” said Dr. Dmytro Kolechko, CEO of Wing Bank. “We are demonstrating that climate action is not just for the few. It should be accessible to everyone, everywhere—including here in Cambodia.”
Empowering Businesses and Individuals:
For Business Customers:
Wing Bank’s business account holders will gain access to ESG accounting data that supports transparency and enables SMEs to meet ESG disclosure requirements in major export markets. One pressing example is the European Union’s upcoming Digital Product Passport requirements—starting with the apparel sector—which demand full environmental disclosures across the supply chain. According to a local media report earlier this year, Cambodia exported garments, textiles, footwear, and travel goods worth $13.92 billion in 2024. The sector currently comprises approximately 1,538 factories and branches, employing around 913,000 workers, most of whom are women. Wing Bank’s innovation positions Cambodian SMEs to adapt and remain competitive on the global stage as sustainability regulations tighten.
For Individual Customers:
All customers—including domestic users and international tourists using Wing Bank money cards—will gain access to insights on the carbon footprint of their transactions. This empowers individuals to better understand their connection to climate change and to engage with reputable climate mitigation and adaptation projects directly through their banking experience.
“Wing Bank has a long tradition of innovation that makes a difference to society,” said Dr. Kolechko. “We are determined to show leadership on climate change, which has devastating impacts on both society and the economy in Cambodia. Our goal is that everyone who wants to take climate action should be empowered to do so—and by enriching transaction data with carbon footprint information, we’re unlocking new solutions that have never before been possible in Cambodia.”
“Through this pioneering approach, we are elevating the standards by which we live, work, and do business—aligning Cambodia’s financial ecosystem with international ESG expectations and preparing our country for deeper integration with global markets.”
A Regional Model for Climate-Aligned Finance
“How we spend, lend, and invest ultimately determines whether we can meet globally agreed climate goals. That’s why FootprintLab is focused on bringing climate data to financial data,” said Janet Salem, Co-Founder of FootprintLab. “We were inspired by Wing Bank’s extraordinary achievements in financial inclusion in Cambodia, and immediately wanted to explore what a bank like this could achieve for sustainability—especially with Cambodia-specific greenhouse gas emissions data and simplified digital workflows. Their leadership on climate action will become a model for the region.”
Supporting Cambodia’s Climate Vision
This initiative supports Cambodia’s national commitment to achieving carbon neutrality by 2050, as outlined in its Long-Term Strategy for Carbon Neutrality. By integrating ESG data into its digital banking services, Wing Bank is contributing to a resilient, sustainable future—for its people and as part of the global movement to combat climate change.
“We look forward to launching this service soon and supporting Cambodia’s growing role in the global sustainability movement,” Dr. Kolechko added.
About Wing Bank
Wing Bank (Cambodia) Plc is one of the fastest-growing digital banks in Cambodia, providing convenient access to financial services across the kingdom.
Since its inception on August 18, 2008, Wing Bank has remained committed to its vision, offering a wide range of financial solutions to the entire community. These services include loans, deposits, local and international money transfers, utility and insurance payments, supply chain payments, payroll services, phone top-ups, and more.
Over 600 entities, including small-scale enterprises, factories, large businesses, and government institutions, have benefited from Wing Bank’s payroll services. Approximately 170,000 merchants rely on Wing Bank’s retail payment service for their daily transactions.
Wing Bank has consistently led innovation in the Cambodian market. In 2022, the bank launched Cambodia’s first numberless and biodegradable Wing Bank Mastercard Debit Card, followed by the numberless Wing Bank Visa Credit Card in 2023, promoting green banking in Cambodia.
Today, Wing Bank maintains a widespread presence through its 12,000 Wing Cash Express Agents, the user-friendly Wing Bank App with over 100 financial solutions, nearly 30 bank offices, and approximately 100 Wing Master agents.
Wing Bank is committed to driving financial, gender, and digital inclusion in Cambodia, ensuring that every Cambodian can enjoy the convenience and security of digital transactions.
About FootprintLab
FootprintLab Pty Ltd is an Australian-based climate-tech company that enables banks and businesses to integrate environmental impact data into everyday financial services, helping users understand and reduce their carbon footprint through accessible, data-driven insights.