Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Prime Minister KP Sharma Oli has called on major nations to take responsibility for their contributions to climate change. Addressing the Climate Risk Forum during the 79th United Nations General Assembly in New York on Wednesday, he urged the leading carbon-emitting nations to be accountable for the impact of their actions. “I request major nations to take responsibility for their contributions to climate change in the pursuit of global climate justice,” he stated.
In his speech, Oli highlighted the disproportionate effects of climate change on vulnerable countries like Nepal. “Climate change is the defining crisis of our time. Being a mountainous and least developed country, Nepal is increasingly facing climate-induced disasters at an alarming rate,” he said.
Focusing on the precarious situation of glaciers in the Himalayan region, Oli emphasized the vast snow reserves in the Himalayas, which are critical for the livelihoods of billions in Asia. He pointed out that global warming is accelerating the rate at which these snow reserves are melting.
Oli also informed the global community about the devastating effects of recent climate disasters in Nepal, which have claimed over 200 lives and severely impacted local economies and communities. Citing a report, he mentioned that Nepal ranked 10th among the countries most affected by climate-related events from 2000 to 2018.
He reaffirmed Nepal’s commitment to the Paris Agreement, urging the world to take immediate action to limit global warming to 1.5 degrees Celsius. Oli also stressed the need for fair and accessible financial mechanisms for climate action, particularly for countries at high risk of climate-induced disasters. “I call for climate finance to be separate from traditional development aid,” he added, advocating for concessional climate financing to prevent vulnerable nations from falling into unsustainable debt.
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