Environment and climate overshadowed as economy takes priority
Summary
Nepal's government budget prioritizes economic growth, reducing allocations for environment and climate change by more than one-third, raising concerns over weakened climate adaptation and biodiversity conservation efforts.
Key Points
- Nepal’s budget reduces funding for forests, environment, and climate-related activities from Rs 19 billion to Rs 12 billion, cutting over one-third.
- Experts criticize the budget for lacking clear plans on climate resilience, reducing fossil fuel imports, and discouraging electric vehicle use with higher taxes.
- Despite Nepal’s rich biodiversity, environmental issues such as habitat degradation, pollution, and invasive species are growing threats.
- The National Biodiversity Strategy underlines integrating biodiversity conservation into all development sectors to balance development and conservation.
- Experts warn that without placing climate change at the center of development, attracting climate finance and achieving sustainable prosperity will be difficult.
