29 August, Kathmandu. Finance Minister Janardan Sharma has said that only by protecting the mountains of Nepal, the drinking water required for 1.5 billion people in the world will be protected.
He said this while presenting his views on behalf of Nepal in the meeting of ministers of Asia Pacific region held in South Korea on Wednesday.
A special meeting of ministers of the Asia Pacific region was held on Wednesday as part of the second Green Climate Fund, the Global Programming Conference. Speaking at the meeting, he informed that the Government of Nepal has allocated Rs 100 billion for green energy in the current financial year keeping in view the urgency. According to him, private sector investors are also following this trend.
Speaking at the meeting, Minister Sharma stressed that there is also a need for international cooperation to effectively mitigate climate change and mobilize private sector investment. He said that Nepalese private banks are also approaching GCF for partnership.
According to him, Nepal has planned public-private investment of US$ 45 billion in the climate sector by 2030. He said that international support is also needed for this. He said that the industrial sector has significantly reduced the use of fossil fuels as a source of energy.
He also said that it is not fair for a country which does not contribute to the rise in temperature due to the activities done by the big economies to raise the world level. The Finance Minister emphasized that the support for climate protection should not be in the form of loans but in the form of grants.