Nepal Explores Economic Benefits from Forest Resources Through Carbon Trading
Summary
Nepal is exploring economic benefits from its forests through carbon trading, aiming to reduce carbon emissions by 34.2 million tons with local community safeguards and integrated sector efforts.
Key Points
- Nepal is leveraging its forest resources through carbon trading to earn foreign currency and mitigate climate change.
- The government is nearing formation of a 'Carbon Trading Authority' to streamline and integrate carbon trading activities.
- Local communities, indigenous peoples, and women are protected under Cancun Safeguards during carbon trading audits.
- Nepal targets reducing carbon emissions by 34.2 million tons focusing on energy, waste, forests, agriculture, and transportation sectors.
