Minister Chaulagain has said that the government is working to facilitate policy to increase the role of the private sector and financial institutions in carbon trading.
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Minister for Forests and Environment Madhav Prasad Chaulagain has said that the government is ready to assist in formulating the necessary policies and regulations to increase private sector participation in carbon trading.
Stating that the participation of Nepal's financial institutions along with the government in carbon trading is also necessary, he said that the ministry is ready to facilitate policy-level facilitation for that.
Minister Chaulagain said this at the inauguration of a workshop organized today with the aim of enhancing Nepal's financial institutions' understanding of Article 6 of the Paris Agreement and carbon project financing. 'Some time ago, we signed a historic agreement to receive climate finance from the LEF Coalition in appreciation of our efforts to reduce deforestation,' he said.
Minister Chaulagain informed that after assuming the responsibility of the Ministry of Forests, Physical Infrastructure and Transport, he has initiated efforts to address the policy challenges that have emerged in environmental protection and infrastructure development.
At the program, Forest Secretary Dr. Govinda Prasad Sharma informed that carbon trading was started due to the efforts initiated by the ministry for a long time, but Nepal has not been able to reap the expected benefits from carbon trading.
Dr. Maheshwar Dhakal, Head and Joint Secretary of the Climate Change Management Division of the Ministry of Forests, Dr. Mukesh Ghimire, Director of the Alternative Energy Promotion Center, and Dinesh Dulal, Head of Sustainable Energy Banking at NMB Bank, gave presentations on the opportunities, risks, and regulatory aspects of engaging in carbon finance.
The participants in the program presented, discussed, and had interactive discussions on the opportunities, risks, and regulatory aspects of engaging in carbon finance.
