The country has received Rs 1.19 billion from the Global Forest Carbon Partnership Fund after successfully reducing carbon dioxide emissions by about 1.888 million tons.

Nepal has reduced carbon emissions through the ‘REDDPlus’ emission reduction program under the Terai Arc region. This amount is the first payment received by Nepal under the Emissions Reduction Payment Agreement (ERPA) under the fund. This is a testament to Nepal’s efforts to prevent deforestation and promote inclusive and sustainable forest management, the World Bank said in a statement today. The bank expressed confidence that this achievement will help Nepal prevent deforestation, enhance biodiversity conservation, and expand sustainable livelihood opportunities for local communities. Rajendra Prasad Mishra, Secretary, Ministry of Forests and Environment, said that the amount received proves the joint commitment of forest-dependent communities, indigenous peoples, and the government.