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.
Nepal has huge potential for diversifying to different sources and exploring the solar and waste market.
As a global commitment to mitigate, adapt and overcome challenges such as these, Nepal along with 198 other countries is part of the Conference of the Parties (COP).