KATHMANDU: Nepali Congress General Secretary Gagan Thapa has called for fair compensation for countries with minimal carbon emissions to ensure their participation in the global carbon trading market.
Speaking at the Asia Climate Conference in New Delhi, Thapa highlighted the disproportionate impact of climate disasters on nations like Nepal, which contribute little to global emissions but suffer severe consequences from climate change.
He urged for a carbon market that goes beyond managing emissions, advocating for it to be a driving force for a just and sustainable transition.
Thapa said that in order to address the severe challenges posed by climate change, the carbon market must not only serve as a tool for emission management but also as a foundation for a just transition towards a sustainable and inclusive future.
He further stressed the need for an expanded carbon market that includes mechanisms to protect and benefit not only climate-vulnerable countries but also ensures they are recognized as key partners and beneficiaries.
Thapa also informed the conference that Nepal is focusing on reforms in the energy, agriculture, and forestry sectors as part of its ‘Long-Term Strategy for Net Zero Emissions.’
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