Nepal, South Korea sign climate cooperation agreement
Summary
Nepal and South Korea have signed a climate cooperation framework agreement to mobilize carbon finance, cut greenhouse gas emissions and support technology transfer and climate adaptation. The deal is expected to help Nepal meet its climate commitments and strengthen resilience to floods and landslides.
Key Points
- Nepal and South Korea signed a cooperation framework agreement on climate change under Article 6 of the Paris Agreement.
- The agreement aims to mobilize carbon finance, support carbon markets, technology transfer and climate-friendly investment.
- Priority sectors include energy, transport, industry, buildings, waste management, agriculture and forestry.
- The partnership is expected to support Nepal’s NDC 3.0 and net-zero greenhouse gas emissions goal for 2045.
