Producing synthetic fabrics alone generates around 20% of the world’s wastewater. The ill effects of the current business model are reflected the best in graduating least developed countries (LDCs) in Asia.
Compared to other countries, Nepal has lower carbon emissions due to the lesser business activities on the environment leading to faster zero carbon emission by 2050 A.D. Nepal has a limited carbon emission which is 0.02% whereas its neighboring country China and India has 29.18% and 7.09% respectively.
The National Planning Commission (NPC) estimates a minimum annual budget of NPR 1.1 trillion (USD 8.27 billion) from the government alone to achieve the targets within the 2016-2030 timeframe.
The EV market in Nepal has experienced a remarkable growth in recent years, with 3,870 EVs worth NPR 11.23 billion being imported in the first 11 months of FY 2022/23. It is a 122% increase in value compared to the same period in the previous fiscal year 2021/22.
Nepal’s carbon trade deal through the Reducing Emissions from Deforestation and Forest Degradation (REDD) program initiated in 2021 offers environmental, economic, and social benefits.
A majority of Nepal’s fire incidents are uncontrolled and have caused extensive damage to protected areas and national parks, posing a significant threat to endangered species of wildlife and plants.