As Nepal moves toward its goal of becoming a developing country upon its LDC graduation in 2026, it is unrealistic to expect the government to fully finance the shift, given the socio-economic progress achieved through the linear model.
Another issue underscored by the recent flash flood is the shifting rainfall patterns attributed to climate change, particularly evident in the Himalayan region.
Capacity building in at least three key areas would be critical for the graduating countries to make their progress irreversible.
Private sectors can act as a proper driver in the market with respect to investment, diverse project portfolio, competitive market sentiment and professional engagement of domestic and foreign stakeholders to build and operate carbon trading projects.
As a lower middle-income country, with sound and stable macro-economic management, Nepal will be able to borrow from International Financial Institutions in a way that many LDCs cannot.
The circular economy is not only about managing waste, but it also encourages responsible planning and design where systems are established to extend a product’s life cycle.