HKH Mountain Day: Making climate business in Nepal

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The National Planning Commission (NPC), Government of Nepal, the British Embassy (BEK), Kathmandu, and the International Centre for Integrated Mountain Development (ICIMOD) are organizing this hybrid side event on Mountain Day at the Cryosphere Pavilion of the COP 26 on 9 November 2021.

This event aims to demonstrate that by working together, the Government of Nepal, its people, international private sector, and international agencies can increase investment in low carbon growth and climate resilience for Nepal and foster close collaboration with its mountain neighbours to achieve common climate mitigation and resilience objectives.

The event also follows ICIMOD’s #HKH2Glasgow campaign – the Mountain of Opportunities investment framework launch – which aims to amplify mountain voices to promote ambitious climate action in the Hindu Kush Himalayas (HKH). The event will showcase Nepal’s approach to increasing investment in low carbon development and resilience – with a live feed to Nepal to allow access for Nepalese stakeholders to promote investment in mountain-specific climate priorities.

Outcome

• Showcase Nepal’s opportunities for green business and investments
• Enable the Government of Nepal to showcase Nepal’s openness for green investment, leading up to an event in 2022

Background

Nepal has set ambitious targets for clean energy, forestry, adaptation, and resilience in its development and climate strategies. Nepal needs to raise an estimated USD 46 billion in the next ten years for low carbon investments to achieve its Net Zero ambitions. Nepal requires an additional USD 26 billion to increase the resilience of the most vulnerable and make provisions for the anticipated costs of climate shocks. To deliver these targets, the Government of Nepal has been developing a Green Resilient and Inclusive Development Strategic Action Plan (GRID-SAP) with its development partners, who have committed USD 4.2 billion to support Nepal’s climate targets and mobilise additional resources from private markets and regional investments. The Government is also working with Nepal’s private sector and international investors to identify specific investment opportunities. The Investment Board of Nepal (IBN) has identified a portfolio of USD 45 billion of green investment projects in sectors such as clean energy, tourism, and climate smart agriculture.

Agenda

Tuesday, 9 November 2021

Detailed agenda

Host: Naina Shakya, Partnership and Private Sector Specialist, ICIMOD