Cambodia is among the countries most vulnerable to climate change. Floods, droughts and extreme vents exacerbated by climate change are already affecting economic and social development, and these impacts are expected to increase significantly over the next few decades. Cambodia’s rain-fed agriculture is highly at risk, as well as irrigation, transportation and urban infrastructures if they are not planned and designed to withstand climate change. Access to water can become a major issue. Increases in temperatures and the higher frequency of heat waves have impacts on health, productivity, and can even disrupt education, as we saw in 2016. Cambodia is highly committed to international efforts to address climate change, as evidenced by the recent ratification of the Paris Agreement on climate change, and adoption of Cambodia’s Nationally Determined Contribution (NDC). The Royal Government of Cambodia has also developed a comprehensive response to climate change, through the Cambodia Climate Change Strategic Plan (CCCSP, 2014-23), operationalized through Climate Change Strategic Plans and Action Plans in 15 ministries and agencies. Following this initial planning work, it is now essential to reflect these priorities in actual investment and expenditure on the ground. A Climate Change Financing Framework was adopted in 2014 and measures have been taken to better track expenditure with climate change benefits, both in the national budget and through the ODA database for external assistance. With support from our partners, key ministries have also started to integrate climate change in the way they prioritize activities for the national budget. The Ministry of Economy and Finance has included guidance on climate change in annual budget circulars. This report provides an update on climate finance trends, including data from fiscal year 2015. It is a useful tool to monitor whether Cambodia and its development partners are effectively supporting national climate change priorities. This year’s report shows continued growth in Government’s commitment, while external sources of financing have dropped slightly. Another key issue is that significant amounts of climate change finance do not seem to be strongly connected to Climate Change Action Plans. These trends will need to be monitored carefully, and further efforts made to align climate finance with national priorities. The Ministry of Economy and Finance will continue to be actively involved in these efforts, alongside the National Council for Sustainable Development and the Council for the Development of Cambodia.