By Shanker Man Singh The 29th Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC) (COP-29) is going to focus more on the issue of 'climate finance'.COP-29 will be held in Baku, Azerbaijan on November 11-22. The conference is also called 'Finance Coop' as the topics of 'Climate Finance' and 'Carbon Credit' are among the most primary topics of discussion. As climate risks threaten lives, livelihoods and economies, Nepal does not have the luxury of waiting for international climate finance. In the meantime, Nepal must increasingly mobilize its public finances and accelerate climate-resilient and private investment. Low carbon economy It seems that this conference will be important from the point of view of climate finance, as the COP-29 will finalize the topics of 'Climate Finance' and 'Carbon Credit' and also determine the source of funds. A new collective quantified goal (NCQG) in climate finance will be finalized and it will be decided which of the countries that emit the most carbon will contribute how much. In addition, it is expected that this conference will decide whether to open the amount of funds or not and decide what topics are called climate finance. In the case of Nepal, it seems that it will take some time to implement the Climate Damage Fund, which was established as a major achievement of COP-28. According to the decision of the Paris Agreement and COP-28, to which Nepal is a party, by 2025, Nepal should also submit the 'NDC-Third Review' by 2025 with a new target of 2035. Countries like Nepal are given a fixed amount in return for their contribution to reduce emissions.“Nepal's emission reduction program is based on more than three decades of successful community forestry         Carbon credits are not necessarily about actual efforts to stop global warming.It is a trading and investment business where money is made.However, this is the best regulatory mechanism we can think of. As we all know, the deadline for everyone to meet the Paris Protocol prescriptions is 2050. This is carbon credit trading and it is a big business that involves the government giving tax breaks to the holders of these credits by earning or buying them. The Government has signed a historic agreement with the World Bank's Forest Carbon Partnership Facility (FCPF) worth up to US$45 million to help Nepal reduce carbon emissions from deforestation and forest degradation by 2025. With this Emission Reduction Payment Agreement (ERPA), Nepal is expected to reduce 9 million tons of carbon dioxide emissions in the Tarai arc landscape. If past is the history then under the leadership of the sitting Prime Minister, the United Nations Framework Convention on Climate Change (UNFCCC) is expected to participate in the 'Summit of World Leaders' of the 29th Conference of the Parties (COP-29). Climate is affecting the world and vulnerable countries like Nepal are being affected more, but in recent years, large floods, landslides and natural disasters have been increasing in Nepal. The process of glacier melting is increasing, for this it is necessary and mandatory for Nepal to prepare both internally and externally. Only the voice of the country will be heard effectively by the world. Participation of Nepal: Nepal had participated in the COP 28 Climate Conference for a long time, although, it has not been able to achieve gains as expected. At that time Nepal had effectively presented evidence and data at the conference. In a cursory review of history, Nepal has participated in only three conferences from the national/government major level. In the 15th conference held in Copenhagen, Denmark in 2009, the then Prime Minister Madhav Nepal, in the 24th conference held in Poland in 2018, the then President Bidya Devi Bhandari and in the 27th conference held in Scotland, United Kingdom in 2021, a high-level delegation led by the then Prime Minister Sher Bahadur Deuba participated. The then Prime Minister Pushpa Kamal Dahal participated in COP 28 in Dubai. Causes and consequences of climate change There is hardly anyone who does not wonder about our planet Earth and the relationship of humans with it when they see the high mountains while landing in Kathmandu. These mountain ranges are an invaluable source of water for the 250 million people of the Hindu Kush Himalayan region and an additional 1.65 billion people in the lower coastal areas. Therefore, Nepal is the fourth most vulnerable country in terms of climate change. Snow Lake and Snow River. According to the experts concerned, the glaciers are shrinking at a rate of 60 meters per year, so that glaciers are forming and the possibility of floods due to the bursting of glaciers has increased. It is to be remembered, this matter has not been given the expected importance. It doesn't need to change, but carbon emissions will halve every decade from 2050. Getting there will require a rapid shift to renewable energy, building new electricity networks, increasing energy efficiency and adopting low-carbon transport. COP-29 and Nepal This special issue on climate, in partnership with the United Nations Climate Change Conference (COP 29), is a unique opportunity to bring together a diverse range of voices from academics, policy makers, the private sector and youth activists. As the global temperature increases, Nepal is under the grip of climate-related disasters. Events such as this month's Glacier Lake disaster flood in the Everest region, widespread forest fires in early 2024, the 2023 Kagbeni flood and the 2021 Melamchi flood clearly highlight the increasing frequency and intensity of these disasters. Beyond these events, slow-onset climate change continues to push communities into poverty and displacement. As the most climate-vulnerable country in the world, Nepal must take concrete steps to protect its people and economy. Achieving a country's climate goals requires significant financial resources, strong policies and institutional frameworks. Although Nepal has begun to integrate climate finance into its fiscal policy and budget planning, these efforts are insufficient. The government has introduced climate budget tagging to track public funds allocated to climate-related activities. However, without a comprehensive strategy for reviewing and reallocating budgets to support climate outcomes, these instruments will have limited impact, as noted in a report assessing global climate action by the Alliance of Finance Ministers for Climate Action. There is no doubt that today's major issue in the Biodiversity COP (COP 15) is the management of financial resources, just like in the Climate COP (COP 29). This year is noteworthy because Nepal is considered sensitive to the effects of climate change due to its sensitive geography. According to the Ministry of Forests and Environment, the threats and losses related to climate change, finding resources for the implementation of the National Contribution Commitment (NDC) report and carbon finance are other agendas that Nepal has prioritized for the summit. Moving forward, urgent action is critical . International finance is critical to implementing Nepal's climate plans. Nepal expects more than 92 percent of its costs to meet its climate goals from external sources. However, the commitment of developed countries to contribute USD 100 billion per year by 2020 to weak and poor countries to combat climate change could not be fulfilled by 2022. With climate risks challenging lives, livelihoods and economies, Nepal does not have the luxury of waiting for international climate finance. In the meantime, Nepal must increasingly mobilize its public finances and accelerate private investment towards a climate-resilient and low-carbon economy. Delaying action now will only lead to higher costs later. Nepal along with many other countries has presented NDC for the implementation of the roadmap of 'Global Climate Action' with the goal of bringing greenhouse gas emissions to zero by 2050. The Paris Agreement, a document that serves as a legally binding international treaty on climate change, aims to limit global warming to less than 2 degrees Celsius, preferably 1.5 degrees Celsius, compared to preindustrial levels. Nepal in nature conservation Nepal is also taking initiatives for nature conservation and is doing various programs along with the world. This seems to be an important step for the government to act to stop the exploitation of nature and create awareness among the general public. It is imperative to check pollution, endangered biodiversity, deforestation in the Himalayas. The reasons for environmental protection are overpopulation, forest destruction, pollution, lack of awareness about the effects of environmental degradation, lack of effective nature conservation policies, and preventing the misuse of natural resources.