Kathmandu: Nepal and China have signed nine significant agreements and memorandums of understanding (MOUs) during Prime Minister KP Sharma Oli’s official visit to China. The agreements were finalized following a bilateral meeting between PM Oli and Chinese Premier Li Qiang at the Great Hall of the People in Beijing on Tuesday morning.
The signing ceremony, attended by senior officials from both nations, was followed by comprehensive discussions on key areas of bilateral cooperation. Krishna Prasad Dhakal, Spokesperson and Joint Secretary of the Ministry of Foreign Affairs, highlighted the significance of the agreements, stating they aim to enhance ties between the two neighbors.
Key Agreements and MOUs Signed:
Tokha-Chhahare Tunnel Route: An exchange of letters for the development of the tunnel, a critical infrastructure project.
Nepal-China Trade: A memorandum of understanding to strengthen trade relations.
Basantapur Durbar Reconstruction: A certificate of reconstruction for the iconic nine-story heritage structure damaged in the 2015 earthquake.
Export of Buffalo Meat: A protocol to facilitate the export of thermally processed buffalo meat from Nepal to China.
Development Planning: A memorandum of understanding to promote coordinated development efforts.
Economic and Technical Cooperation: A commitment to collaborate on economic and technical initiatives.
Cash Grants: An exchange of letters to provide financial assistance to Nepal.
Voluntary Chinese Language Education: An agreement to promote Chinese language learning in Nepal.
Communication Technology Cooperation: A memorandum of understanding between Nepal Television and China Media Group to enhance media and communication collaboration.
Broader Discussions
The bilateral talks also explored avenues for connectivity, infrastructure development, industrial growth, medical cooperation, agriculture, trade, tourism, science and technology, sports, disaster management, and poverty alleviation. These discussions aim to elevate Nepal-China relations to new heights, according to Dhakal.
However, the agreements notably excluded any mention of the Belt and Road Initiative (BRI), despite speculation about its inclusion.
PM Oli’s China Visit
Prime Minister Oli, who arrived in China on December 2 for a four-day official visit, held talks with Chinese President Xi Jinping and Premier Li Qiang. The discussions took place at the Diaoyutai State Guest House in Beijing, though specific details of their conversations remain undisclosed.
Nepal and China’s growing cooperation, as reflected in these agreements, underscores their mutual commitment to strengthening bilateral ties and addressing shared challenges through collaborative efforts.
After a fortnight of bitter struggle, nearly 200 countries agreed a new goal to raise money to tackle the climate crisis at Cop29, the 29th annual UN climate conference in Baku, Azerbaijan.
Rich countries agreed to take the lead in paying US$300 billion a year to the poorest nations by 2035 from a variety of financial sources (public, private, between countries, and across multilateral sources like development banks). This is less than a quarter of what developing countries asked for, and not in the form of the no-strings-attached grants money that they need.
There is no consensus on how to define “climate finance” within the United Nations Framework Convention on Climate Change (UNFCCC), the UN process for negotiating an agreement to limit global warming. Developed countries prefer a mélange of public and private funding sources, including loans and “debt swaps” (reducing or forgiving a country’s debt in exchange for that country investing money into projects that protect the environment or fight climate change). Their preference is reflected in the final Cop29 decision.
These same developed countries are responsible for most of the greenhouse gas emissions that are heating Earth to dangerous levels. Developing countries have demanded a share of their immense wealth to help them cut emissions, adapt to the impacts of a warming climate and address the consequences of existing disasters (what is generally referred to as loss and damage). The UNFCCC estimates that developing countries need US$5 trillion to US$6.9 trillion to implement their national climate plans by 2030.
The original climate finance target was set in 2010 and is due to expire in 2025. This encouraged rich nations to funnel US$100 billion to the developing world annually, but it was only met for the first time in 2022.
Negotiators from poor nations are right to be frustrated. While the latest UN Intergovernmental Panel on Climate Change report suggests that there is enough money in the global economy to properly fund a green transition, the financial system is systemically skewed against developing countries.
Debt and inequality
The World Bank and other international monetary institutions were conceived at the end of the second world war, before many of the countries they affect had gained independence, calling into question the legitimacy of a global regime conceived in the colonial era.
In 2022, 58 of the world’s poorest and most climate-vulnerable countries spent US$59 billion repaying debtscompared to the US$28 billion they received in climate finance, over half of which were loans.
Despite the Friday deadline, negotiations continued into the early hours of Sunday morning. EPA-EFE
The cost of borrowing money can be up to seven times higher for developing countries than the US and Europe. This is because lenders see poorer countries as riskier places to invest, given their perceptions of political instability or low credit ratings. This arrangement entrenches inequality.
Poor countries like Bangladesh that are increasingly exposed to extreme weather need more and more money to adapt. When this money is provided in the form of loans, the interest traps them in a downward spiral of mounting debt.
‘You owe us’
Countries that bear the least responsibility for climate change suffer its harshest consequences. It is estimated that between 2000 and 2019, 55 of the countries most vulnerable to climate change lost US$525 billion to impacts like sea-level rise and storms despite accounting for 4% of global emissions.
The UNFCCC acknowledges that countries have different abilities but also a common responsibility to mitigate climate change. While the UN process affirms the inequality of resources, power, and historical contributions among countries, it does not provide recourse to address these imbalances.
In fact, vulnerable countries are already owed a great deal for paying the price of a crisis they did not produce. Purely in terms of emissions, this “climate debt” has been calculated at US$5 trillion annually, or US$192 trillion by 2050.
Even without climate change, research has found that developed countries owe developing countries US$10 trillion a year for the land, labour and resources the former extracts from the latter for its economic growth and development.
Let the market fix it
Whether solutions to climate change are “cost-effective” has motivated official efforts to tackle climate change since the inception of the UNFCCC in 1992.
The 1997 Kyoto protocol allowed rich countries to invest in emission-reducing projects in developing countries to meet their own targets. This was called the clean development mechanism.
In a similar vein, prior to the signing of the 2015 Paris agreement, negotiators of rich nations considered government funding insufficient for transitioning societies to net zero carbon emissions. The objective was to “shift the trillions” from the private sector by creating incentives for investment.
Attracting private sector investment for green energy is harder in poor countries. EPA-EFE/Yahya Arhab
This put governments in a facilitating role, letting private funders take the lead in developing solar farms and restoring wetlands. This does not mean that governments disappear from the scene, however.
Instead, governments create a less risky, more attractive investment environment for the private sector by using subsidies or guarantees that the state will take on the debt if a private company cannot pay. Effectively, this process makes the public responsible for the risks of climate finance while private companies get to keep all of the financial gains.
Using loans and private finance costs rich governments the least, and financing with strings attached gives them more control over how money is spent. For developing countries, however, grant-based finance provides tangible support for addressing a climate crisis they did not create.
In such an unequal system, the first recourse has not been to cancel debt, as many developing countries have called for. Instead, companies, civil society groups and even private financiers are being asked to fill the moral gap left by rich governments. ( From: the conversation)
COLOMBO – More than 400,000 people across Sri Lanka have been impacted by severe weather conditions caused by a depression in the Bay of Bengal that has developed into a cyclone, according to the Disaster Management Center (DMC).
As of Thursday afternoon, 401,707 individuals have been affected, with 12 fatalities and two people reported missing, DMC Director Pradeep Kodippili announced. To support rescue and relief efforts, 210 teams comprising members of the armed forces and police have been deployed, equipped with 239 boats to navigate flood-affected areas.
The heavy rains, which have inundated large parts of the country, are expected to ease by Saturday, according to Sri Lanka’s meteorological department. The adverse weather has disrupted daily life and caused significant challenges for residents in the hardest-hit regions.
Authorities continue to monitor the situation closely, urging the public to remain vigilant and cooperate with ongoing relief efforts.
London — Australia’s parliament has passed a landmark law aiming to ban children under 16 from using social media platforms, sparking widespread debate. The legislation, driven by concerns over the mental health impacts of social media on young Australians, was passed by the Senate on Thursday with a 34-19 vote.
Prime Minister Anthony Albanese cited a “clear, causal link” between social media and youth mental health challenges. The Online Safety Amendment (Social Media Minimum Age) Bill will fine companies up to AU$50 million (US$32 million) if they fail to enforce the ban. However, the law lacks specifics on implementation, leaving enforcement details to be finalized through trials of age-assurance technology by mid-2025.
Platforms such as Snapchat, TikTok, Instagram, and Facebook are likely targets of the ban, while YouTube is exempt due to its educational value. Critics argue the rushed bill could backfire, driving teens to unsafe online spaces or increasing isolation. Concerns about personal data collection have also been raised. Elon Musk criticized the law as a “backdoor way to control access to the internet.”
Public sentiment appears divided. A recent YouGov survey showed 77% of Australians support the ban, an increase from 61% in August. However, opposition remains strong among experts and advocacy groups. Amnesty International warned the bill could isolate young people, while 140 experts signed an open letter calling the measure a “blunt instrument” that could exacerbate risks for children.
Critics like Christopher Stone of Suicide Prevention Australia have urged the government to consult further before implementing the law. Independent MP Andrew Wilkie, initially supportive, has reversed his stance, emphasizing the absence of young voices in the debate.
The legislation, set to take effect in 12 months, highlights the global challenge of balancing online safety with youth rights and access.
Kathmandu: Nepal’s Prime Minister KP Sharma Oli is set to embark on an official visit to China from December 2 to December 5, during which he will meet Chinese President Xi Jinping and other senior officials. This visit is seen as a significant step in Nepal’s foreign diplomacy.
According to a source from the Ministry of Foreign Affairs, Prime Minister Oli’s high-level meetings with the Chinese President and Prime Minister will take place on December 3, the day after his arrival in Beijing. The visit is expected to focus on strengthening bilateral relations, economic cooperation, and other strategic discussions.
The official announcement of the visit is anticipated on November 29 by both Kathmandu and Beijing. Foreign Minister Dr. Arzu Rana is scheduled to leave for China on November 28 to finalize preparations for the Prime Minister’s visit.
This trip marks a pivotal moment in Nepal’s diplomatic relations. Historically, Nepali prime ministers have prioritized visits to India as their first foreign trip, which has often been seen as a gesture to maintain close ties with its southern neighbor. However, Prime Minister Oli’s decision to visit China underscores his government’s intent to diversify Nepal’s foreign relations.
Experts have highlighted the need for Nepal to adopt a balanced foreign policy to maintain stable relations with both India and China. They also caution against taking loans with high-interest rates, citing the examples of debt crises in Sri Lanka and some African nations. Nepal is urged to carefully evaluate economic agreements to ensure sustainable development without risking economic sovereignty.
Prime Minister Oli’s visit is being closely observed by political analysts, who see it as a potential indicator of Nepal’s geopolitical alignment amidst growing competition between India and China in South Asia.
London — Recognising the signs of a stroke and acting quickly can save lives, as highlighted by NHS England’s latest campaign. Aimed at raising awareness of stroke symptoms, the campaign emphasizes the importance of calling 999 at the first sign of a stroke.
Strokes, the fourth leading cause of death in the UK, claim 38,000 lives annually. However, new data reveals a concerning delay of nearly 90 minutes between the onset of symptoms and calling for emergency help. Common symptoms include difficulty smiling, inability to raise an arm, and slurred speech, all of which require immediate attention.
Dr Amir Khan, a renowned medic and advocate for the campaign, stresses the urgency: “A stroke strikes every five minutes in the UK, and our community faces a higher risk at a younger age. Recognising symptoms and calling 999 without delay can be lifesaving and reduce long-term disability.”
The campaign also highlights the increased risk for people of South Asian backgrounds and those with conditions like high blood pressure or diabetes.
Real-life stories, like that of retired nurse Latika Patel, bring the campaign’s message to life. Latika experienced subtle symptoms such as slurred speech and difficulty smiling while visiting her daughter. Thanks to her daughter’s quick action in calling 999, Latika’s hemorrhagic stroke was treated in time, allowing her to recover.
Similarly, Niraj Shah, who had no prior knowledge of strokes, emphasizes the importance of quick action: “If you spot anything that might be a stroke, call 999 immediately. Better safe than sorry.”
The message is clear: face, arm, or speech difficulty? Call 999 without hesitation.
For more information on recognising stroke symptoms, visit NHS Stroke Symptoms.
Islamabad— Pakistani authorities have brokered a seven-day ceasefire following intense sectarian violence in the northwestern Kurram tribal district near the Afghan border. Over three days of clashes, 82 people were killed and 156 injured, according to local officials.
The violence erupted on Thursday when gunmen attacked convoys of Shia Muslims under police escort, killing over 40 people, including women and children. Revenge attacks quickly escalated, forcing hundreds of residents to flee.
Negotiations between Shia and Sunni leaders, facilitated by government officials, led to the ceasefire agreement on Sunday. Muhammad Ali Saif, a government spokesman, confirmed both sides agreed to halt hostilities.
The conflict stems from longstanding sectarian and tribal disputes over land. Survivors described harrowing experiences, with families hiding in mountains amid freezing temperatures. A tribal council had urged an end to the violence, prompting the talks.
Security remains tight in the region, with officials monitoring the fragile truce.
The South Asian-Gulf migration corridor remains one of the most significant in global migration, traditionally dominated by low-skilled laborers moving to Gulf Cooperation Council (GCC) countries. However, migration patterns have diversified in recent decades, with increasing flows of skilled workers and students toward Europe, North America, and Oceania. This shift highlights evolving motivations and challenges for South Asian migrants. A research report published in ISPI highlighted.
Migration from South Asia is driven by unemployment, low income, debt, and climate change, with notable intra-regional movements such as Bangladesh-India and Afghanistan-Pakistan. The Gulf region continues to attract South Asians due to labor demand and economic factors, though stricter immigration policies and nationalization efforts have affected recruitment. Migrants in the GCC are predominantly employed in low-wage sectors like construction and domestic services, contributing significantly to Gulf economies. However, exploitation in recruitment processes remains a pressing issue, including illegal agencies and visa trading.
Female migration to the Gulf is also rising, with South Asian women increasingly working in domestic roles. Sri Lanka leads in “feminized” migration, with most female migrants coming from low-income households.
While the Gulf remains a key destination, there is a notable increase in South Asians migrating to Europe, North America, and Oceania, driven by opportunities for permanent residency and citizenship. From 1990 to 2020, South Asian migration to these regions surged, with India ranking second globally for student migration.
Remittances play a vital role in South Asia’s economy, mitigating poverty and boosting GDP. In 2020, remittances to South Asia grew by 5.2% despite the pandemic. However, return migration, particularly during COVID-19, disrupted remittance flows and highlighted reintegration challenges. Many returnees faced unemployment, wage theft, and a lack of awareness about reintegration programs like India’s SWADES initiative.
Experts emphasise the need for holistic migration policies to address vulnerabilities, support reintegration, and harness migration’s potential for sustainable development.
KATHMANDU, Nov 23: Nepal’s foreign trade showed signs of recovery in the fourth month of the current fiscal year. Exports grew by 4.16% to Rs 52.67 billion, while imports increased marginally by 0.17% to Rs 513.38 billion compared to the same period last year, according to the Department of Customs (DoC).
After three months of declining trade figures, cross-border trade rebounded between mid-October and mid-November. However, the trade deficit widened due to a relatively smaller growth in exports. As of mid-November, Nepal’s trade deficit stood at Rs 460.71 billion, a slight decline of 0.26% from the same period last year.
Notably, imports of electric vehicles (EVs) surged by 26% during the first four months of the fiscal year. Nepal imported 4,217 EV units worth Rs 10.53 billion, generating Rs 5.72 billion in customs revenue. In the same period last year, 3,115 units worth Rs 7.70 billion were imported.
The country also imported 827,925 mobile phones valued at Rs 13.40 billion, with 80% sourced from China, 15% from India, and the rest from countries including the US, Japan, South Korea, and Vietnam.
Despite the improvement in trade performance, the growing trade deficit underscores the need for stronger export-oriented strategies to achieve a more balanced trade ecosystem
BAKU, Azerbaijan – After weeks of tense negotiations at COP29, nearly 200 nations reached a new climate agreement early Sunday, committing wealthy countries to provide $300 billion annually by 2035 to help poorer nations combat the escalating impacts of climate change. However, the figure was widely criticized as inadequate.
The agreement came after chaotic negotiations marked by boycotts, political disputes, and a strong presence of fossil fuel interests. Talks nearly collapsed when representatives from vulnerable small island states and least-developed countries walked out on Saturday. Eventually, the deal was finalized more than 30 hours past the deadline.
“This new finance goal is an insurance policy for humanity,” said Simon Stiell, head of the UN Framework Convention on Climate Change. But the pledged amount falls far short of the $1.3 trillion that experts estimate is necessary. India’s representative Chandni Raina called the $300 billion a “paltry sum,” while Marshall Islands envoy Tina Stege criticized the talks for “political opportunism” and fossil fuel influence.
The deal focuses heavily on climate finance, requiring wealthy nations to provide funding through public and private channels. However, it only “encourages” contributions from richer emerging economies like China and Saudi Arabia, leaving developing nations concerned about debt traps from loan-based assistance.
COP29 unfolded against the backdrop of a record-hot year and increasingly extreme weather events, but it was overshadowed by political divisions and fossil fuel lobbying. More than 1,700 fossil fuel representatives attended, outnumbering most country delegations.
Climate activists slammed the summit for falling short. “This was meant to be the finance COP, but the Global North betrayed the Global South,” said Tasneem Essop of Climate Action Network. Despite the outcome, calls for greater accountability and increased funding persist.
London — The Nepalese British Community UK (NBC-UK) is organizing a Community Cancer Awareness Webinar on November 30, 2024, from 10:00 AM to 12:30 PM. The online event, supported and trained by Cancer Research UK, aims to raise awareness about cancer within the ethnic minority Nepalese British community.
The program, conducted in Nepali, will address key topics including:
Signs and symptoms of cancer
Screening, prevention, and lifestyle changes
Barriers to screening
Insights from a nurse working in cancer recovery
Additionally, two cancer survivors will share their personal journeys, and a live Q&A session will provide participants the opportunity to engage with experts.
The event will feature prominent speakers:
Dr. Pragya Khanal – Clinical Oncologist at the NHS, North London.
Shreejana Koirala – Maternity Community Matron and Link Project Manager for NWL ICB.
Sunita Bohora Karki – Registered Nurse specializing in Head and Neck Cancer.
Prabhu Neupane – Health and Social Care expert, and owner of nursing and home care businesses.
Secretary Damodar Acharya emphasised the program’s goal to promote cancer awareness among the Nepalese British community.
NBC UK Coordinator Samirnath Pyakurel added that the event will include inspiring survivor stories and valuable insights from healthcare professionals. “The webinar is open to all but specifically tailored to address the needs of the UK Nepalese community. Join us to learn, share, and raise awareness!” Following Registration link has been provided to register for the event: https://events.teams.microsoft.com/event/5dfbd5b5-bed2-41b9-ba8f-3da8ced916c9@6d9dace9-ffa0-491f-b5a5-1da529093bd5
Boston — Santosh Karmacharya, a Nepalese runner based in Boston, USA, has become the first person from Nepal and South Asia to complete seven marathons across seven continents in seven days. Participating in the “Great World Race,” Karmacharya achieved this extraordinary feat, covering 42.2 km in each marathon.
The challenge began on November 14 in Antarctica, followed by Cape Town in Africa, Perth in Australia, and Istanbul in Turkey, which represented both Asia and Europe on November 17 and 18. He then continued to Cartagena in South America and concluded the race in Miami, North America, on November 21.
The grueling event featured 54 runners from 15 countries, each striving to complete this global marathon challenge within tight schedules. Runners flew approximately 60 hours over seven days by charter flights, with only eight hours between races.
Karmacharya emphasized the extreme physical, mental, and financial challenges of the race, saying, “It requires immense mental strength and a significant financial commitment.” Despite these obstacles, he expressed gratitude to everyone who supported him in accomplishing what he described as “the most incredible challenge in the world.”
The event was organized by the Great World Race and recognized by the Intercontinental Marathon Club. Karmacharya, who runs a yoga center in Boston, had recently represented Nepal in the World Triathlon in Australia alongside fellow Nepali Santosh Rai.
This historic achievement not only brings pride to Nepal but also sets a benchmark for runners across South Asia.
Islamabad — At least 41 people, including women and children, were killed when unidentified gunmen attacked a convoy of 200 passenger vehicles in Pakistan’s tribal district of Kurram, near the Afghan border. The convoy, under police escort due to heightened sectarian tensions, was ambushed on Thursday, with attackers targeting security personnel first, according to provincial authorities.
The tragic incident occurred in an area plagued by sectarian violence between Sunni and Shia Muslim tribes. Police confirmed 16 others were critically injured, and officials fear the death toll may rise. Nadeem Aslam Chaudhry, Khyber Pakhtunkhwa’s chief secretary, called the attack “a major tragedy.”
Witnesses described the chaos, with survivors hiding under car seats as gunfire erupted. Saeeda Bano, a passenger, recounted seeing bodies and injured individuals scattered along the road once the shooting subsided.
Officials revealed approximately 10 attackers fired indiscriminately from both sides of the road. Women and children sought refuge in nearby houses as authorities launched a manhunt. The convoy was traveling along a road recently reopened under police protection following previous attacks in the region, including one last month that left 15 dead.
Authorities continue investigating the motive, with local land disputes and extremist groups suspected of fueling the violence.
New Delhi – UNICEF has called for urgent measures to include children and young people in national climate policies as its latest analysis highlights the growing impact of climate crises on South Asia. Released during COP 29 in Baku, Azerbaijan, the report projects alarming trends: by 2050, four times as many children will face extreme heatwaves, with significant increases in exposure to floods and wildfires compared to the 2000s.
The region’s 659 million children already face climate-related hazards such as heatwaves, floods, and air pollution, severely disrupting their lives, health, and education. Yet, UNICEF’s mapping reveals that most South Asian countries lack child-sensitive climate policies. Nepal leads the region by explicitly recognizing children’s rights in its Nationally Determined Contributions (NDCs), while others, including India, Pakistan, and Sri Lanka, have made limited progress.
Young voices from the region, like Zunaira Qayyum from Pakistan and Fathimath Raaia Shareef from Maldives, stress the urgency of integrating children into decision-making processes. “We are not just advocating for climate action; we are fighting for survival,” Shareef stated, urging leaders to prioritize their future.
UNICEF is pushing for governments to adopt child-sensitive NDCs by 2025, increase climate financing for children, and ensure disaster management systems are tailored to their needs. “The future of South Asia’s children is at risk unless leaders act now,” said Sanjay Wijesekera, UNICEF’s Regional Director for South Asia.
UNICEF emphasizes that children are not just victims but powerful agents of change, deserving a meaningful role in shaping climate policy. With time running out, the need for decisive action is more critical than ever.
London —The 14th Asian Curry Awards held on Saturday at Grosvenor House, Mayfair, London. Sarah Jones, the UK Minister of State for Energy Security, Net Zero, and Business and Trade, served as the chief guest at a prestigious ceremony coordinated by Mr. Dipendra Gurung, a prominent British businessman of Nepalese origin. Mr. Gurung, who leads the Gurung Family business group, coordinated the event to honor excellence in the business and trade sector. The collaboration highlighted the strong connections between the UK’s economic framework and its multicultural influences, underscoring contributions from leaders of diverse origins like Mr. Gurung.
The prestigious event celebrated the curry industry’s contribution to the UK economy, which employs over 100,000 people and generates £8 billion annually.
Jones, the chief guest, praised the sector’s role in strengthening Britain’s multicultural identity. Gurung, the guest of honour, underscored Nepalese entrepreneurs’ growing influence in global business.
Miss England 2024, Milla Magee, represented Gurung during the awards distribution. Maggie shared her “Miss World with Purpose” campaign, Goforwhisper, supported by Prince William and Himalaya Jet, aiming to make CPR training compulsory in schools.
She also unveiled ambitious plans for Himalaya Jet, including long-haul flights connecting Monte Carlo, Macau, and Las Vegas, and short-haul routes linking London, Paris, Rome, and other luxury destinations. Notably, Himalaya Jet will also launch flights between London and Nepal.
Gurung’s vision for Himalaya Jet includes operating 18 large aircraft to bridge Nepal with Europe, Australia, and beyond, cementing Nepal’s presence in international aviation. The evening celebrated innovation, culture, and cross-continental collaboration.
You can explore the full list of winners of the Asian Curry Awards 2024 here
Baku– Member of the Federal Parliament of Nepal and Vice-Chair of the Rastriya Swatantra Party (RSP), Dr Swarnim Wagle, has said the ecological integrity of South Asia demands creative transboundary cooperation superseding short-term political strains.
Addressing three separate panel discussions on the sidelines of the 29th Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC), also known as COP29, in Baku on Thursday, Dr Wagle said the Hindukush Himalaya mountains which store the largest amount of fresh water outside the two poles and feed ten major river systems are bearing the brunt of ‘elevation dependent warming’ with climate disasters likely to escalate in scale, frequency and intensity, he added.
A former vice-chair of the National Planning Commission of Nepal, Dr Wagle said that while global solutions entail a time lag, threats posed by air pollution need regional action. He said, “we have to reclaim the original raison d’etre of regionalism as challenges are bigger than what one country can solve. We have to reduce risks from idiosyncratic and systemic shocks, raise incomes of our communities through green growth, and cut costs to reduce distance and connect markets.”
He also called for a bold departure in the way external finance is channelled to avert, minimize and address loss and damage associated with the adverse impacts of climate change.
There was a significant funding gap of 85 percent in implementing adaptation plans expected to cost a whopping US$47 billion by 2030. “Most risks are cross-boundary, so there is the need for incentivized regional cooperation for data, knowledge, and technology sharing protocols to pave the way for derisked and depoliticised decarbonisation efforts,” he added.
‘Need to shift gears with urgency, agility and responsiveness’
Current approaches to humanitarian response are not effective, so there is a need to shift gears with urgency, agility and responsiveness being the new metrics of operation to improve upon long gestation periods and rigid budget cycles of aid bureaucracies, said Dr Wagle. “The new Loss and Damage Fund should be an explicit component of the New Collective Quantified Goal (NCQG) being negotiated in Baku. New grants could be allocated directly to government budgets and then to communities without the involvement of costly transactional intermediaries. And to avoid fungibility, they must be accounted to be new and additional,” he added.
“In August 2024, glacial lake outburst flood (GLOF) swept away the village of Thame in the Everest region causing huge losses to local communities. Only 5 out of 200 potentially dangerous glacial lakes in the Hindu Kush Himalayas are monitored,” said Dr Wagle adding, “Post-monsoon rain in Nepal in September this year was the heaviest in 54 years causing at least 250 deaths. Dr Wagle quoted a study to assert that during 2017-2021, Nepal lost more than two percent of GDP due to climate induced disasters, which is expected to increase to 5 percent of GDP by 2030.
Dr Wagle emphasised that the National Climate Change Policy adopted by the government of Nepal in 2019 has committed to direct 80 percent of climate finance to the local level. Nepal’s Nationally Determined Contributions (NDC) is 1.5°C aligned, and its Local Adaptation Plan of Action (LAPA) through 753 governments could foster community-based adaptation. “Key to LAPA is the empowerment of local communities as they are on the frontlines and are the first responders,” he said.
The separate panel discussions were steered by Canada’s International Development Research Centre (IDRC), the UK’s International Institute for Environment and Development (IIED) and the University of Reading’s Walker Institute.
