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Draft:Climate Finance in Nepal

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Climate Finance in Nepal

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Nepal has been at the frontline in addressing climate finance[1] in order to address impact of climate change[2] in order to build resilience. Its diverse geography makes it vulnerable to impacts of climate change. It is important for us to understand the Economic development[1] through climate finance[3] funding, promotes sustainable agriculture and renewable energy.

Climate Finance[3] in Nepal helps grassroot communities which are heavily dependent on agriculture to adapt to changing conditions as well as ensuring alleviation from poverty, Zero Hunger and improvement of livelihoods. 

Nepal is rich in biodiversity for endangered species. Climate finance ensures conservation of biodiversity hotspots which promotes sustainable land uses and protection of ecosystems.

Climate Finance Overview

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  1. Climate Finance Report[4]. Up to 80% of Nepal's Climate finance[4] is allocated to grassroot stakeholders in a unique system. The goal is to make sure that vulnerable communities are not left behind when financing is being allocated.
  2. Development Agenda. Building resilience to climate change impacts while investing in low carbon solutions like hydropower. This has been encouraged by the World Bank Report which encourages integrating of climate change into Nepal's Development strategy.
  3. Green Economy and Growth[5]. Nepal has focused on developing long term mitigation and adaptation strategy by shifting their priorities to reconsidering climate related institutions and investments focus on green growth.
  4. Citizen Climate Budget[6]. A booklet that provides insights into how Nepal is using public finance to tackle climate related risks has been developed by The United Nations Development Programme UNDP[6].

Climate Finance Projects in Nepal

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Here are some notable Climate Finance projects that Nepal[7] has been involved in which promote Sustainable Development Goals.

  • Green Climate Fund (GCF) Projects[7]: Nepal collaborates with the GCF on several initiatives, including E-Mobility Program: This project focuses on reducing greenhouse gas emissions through modern, efficient, and climate-friendly clean cooking solutions.
  • UNDP Climate Finance Initiatives[7]: The United Nations Development Programme (UNDP) supports various climate finance projects in Nepal, such as:
  • Climate Change Financing Framework (CCFF)[8]: This framework integrates climate change and climate finance into national planning and budgeting processes2
  • . Community-Based Adaptation Programmes[4]: These programs aim to protect the environment and improve the livelihoods of vulnerable populations through sustainable agriculture and disaster risk reduction
  • Climate Investment Funds (CIF)[8]: Nepal's strategic program for climate resilience, supported by CIF, delivers grants and concessional financing to mainstream climate change into development plans and practices.

These projects are crucial in helping Nepal mitigate climate risks, promote renewable energy, and protect biodiversity.

Climate Finance Tracking and Reporting

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Nepal has implemented several mechanisms to track and report on climate change as sited in the following to promote impact and efficiency:

National Climate Change Policy[7]: Nepal's National Climate Change Policy, updated in 2019, provides a framework for climate change adaptation and mitigation. It outlines the roles and responsibilities of various government agencies in tracking and reporting climate change data.

National Adaptation Plan (NAP)[4]: Nepal is developing its National Adaptation Plan, whose aims to identify sustainable adaptation needs and strategies. This helps in tracking progress and reporting on adaptation measures to relevant stakeholders.

Climate Change Monitoring and Evaluation (M&E) System[5]: Nepal has established a national M&E system to track the implementation of climate change adaptation projects. This system helps in assessing the effectiveness of these projects and reporting on their outcomes.

International Reporting: Nepal regularly reports its climate change actions and progress to international bodies such as the United Nations Framework Convention on Climate Change[3] (UNFCCC). This includes submitting Nationally Determined Contributions (NDCs) and periodic national communications


Role of Nepal in Managing Climate Funds

Non-Governmental Organizations (NGOs) play an important role in managing climate funds in Nepal. Here are some key aspects of their involvement as stakeholders:

  1. Project Implementation[4]: NGOs often implement climate finance projects on the ground. They work closely with local communities to ensure that the funds are used effectively and reach the most vulnerable populations.
  2. Capacity Building[1]: NGOs provide training and capacity-building programs to local communities and government officials. This helps in enhancing the understanding and management of climate finance[8].
  3. Advocacy and Policy Influence[9]: Stakeholders advocate for better climate finance policies and practices. They engage with government agencies and international organizations to influence policy decisions and ensure that climate finance is allocated and used transparently and effectively.
  4. Monitoring and Evaluation[6]: Stakeholders play a significant role in monitoring and evaluating climate finance projects. They ensure that the projects are implemented as planned and that the funds are used efficiently.
  5. Transparency and Accountability: NGOs work to improve transparency and accountability in the management of climate funds. They push for better oversight and reporting mechanisms to prevent corruption and misuse of funds
  6. Collaboration with International Organizations: NGOs often collaborate with international organizations such as the Green Climate Fund[10] (GCF), Global Environment Facility[11] (GEF), and United Nations Development Programme (UNDP)[7] to secure funding and implement climate finance projects.

References

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  1. ^ a b c "Integrating Climate Change into Nepal's Development Strategy Key to Build Resilience, Says New World Bank Group Report". World Bank. Retrieved 2024-10-30.
  2. ^ Nations, United. "What Is Climate Change?". United Nations. Retrieved 2024-10-30.
  3. ^ a b c unfccc.int https://unfccc.int/topics/introduction-to-climate-finance. Retrieved 2024-10-30. {{cite web}}: Missing or empty |title= (help)
  4. ^ a b c d e "Nepal Country Climate and Development Report". September 2022. {{cite journal}}: Cite journal requires |journal= (help)
  5. ^ a b Mahat, Tek Jung; Bláha, Luděk; Uprety, Batu; Bittner, Michal (2019-07-23). "Climate finance and green growth: reconsidering climate-related institutions, investments, and priorities in Nepal". Environmental Sciences Europe. 31 (1): 46. doi:10.1186/s12302-019-0222-0. ISSN 2190-4715.
  6. ^ a b c "Nepal's Citizen Climate Budget Booklet". UNDP. Retrieved 2024-10-30.
  7. ^ a b c d e "Climate Finance". UNDP. Retrieved 2024-10-30.
  8. ^ a b c "Climate Finance". UNDP. Retrieved 2024-10-30.
  9. ^ "Nepal tackles corruption in climate financing – DW – 11/19/2021". dw.com. Retrieved 2024-10-30.
  10. ^ Fund, Green Climate (2019-06-10). "Nepal". Green Climate Fund. Retrieved 2024-10-30.
  11. ^ "Nepal". Global Environment Facility. 2024-07-25. Retrieved 2024-10-30.
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