Kathmandu: Nepal has taken a significant step toward strengthening climate finance with the issuance of the Carbon Trade Regulation by the Ministry of Forests and Environment. The regulation marks a key milestone in operationalizing the country’s carbon market framework and reflects Nepal’s ambition to use carbon markets as an innovative source of climate finance.
The United Nations Development Programme (UNDP) Nepal said it has been supporting the Government of Nepal throughout the process, including policy formulation, regulatory design, development of the National Carbon Registry, and capacity building for public and private stakeholders.
According to UNDP Nepal, the new regulation lays a strong foundation for a transparent and credible carbon market, which is expected to help mobilize climate finance and support Nepal’s transition toward a low-emission and climate-resilient future.
