Spread the love

Kathmandu, November 17: Nepal has received 94 million US dollars for reducing carbon emissions from the Tarai forest system. According to the World Bank, Nepal received the payment through the Forest Carbon Partnership Facility (FCPF) for reducing approximately 1.88 million tons of carbon dioxide.

This is the first payment under the Emission Reductions Payment Agreement. The statement notes that this marks a major milestone in Nepal’s efforts to reduce carbon emissions by decreasing deforestation and forest degradation, and by promoting inclusive and sustainable forest management.

David Sislen, World Bank Director for Maldives, Nepal, and Sri Lanka, stated that this payment is evidence of Nepal’s success in reducing deforestation, strengthening forest governance, enhancing biodiversity conservation, and expanding sustainable livelihood opportunities for local communities.

Secretary of the Ministry of Forests and Environment, Dr. Rajendra Prasad Mishra, said that this results-based payment reflects the efforts and dedication of forest-dependent communities, indigenous peoples, and the government in protecting and managing Nepal’s forests.

People’s News Monitoring Service.