Nepal’s Milestone in Carbon Trading
Summary
Nepal has approved the Carbon Trading Regulation 2082 BS, establishing a national framework to link climate commitments with economic opportunity through carbon markets, aiming to generate significant income and promote environmental sustainability.
Key Points
- Nepal's Cabinet approved the Carbon Trading Regulation 2082 BS, enabling formal carbon trading and linking climate action with economic benefits.
- The regulation integrates private sector, local governments, communities, and professional bodies to create a national carbon market.
- Key provisions include a National Carbon Registry, third-party verification, and adherence to international standards for credibility.
- Nepal's strengths in forestry, hydropower, and community forest management position it well to benefit from carbon credits and green economy transitions.
