Kathmandu, Nepal, June 20, 2025
The Federation of Nepalese Chambers of Commerce and Industry (FNCCI), in collaboration with the International Finance Corporation (IFC), conducted a workshop highlighting the importance of Environmental, Social, and Governance (ESG) principles for fostering sustainable business practices in Nepal.
Speaking at the event held in Kathmandu, FNCCI President Chandra Prasad Dhakal emphasized that ESG is no longer a trend but a fundamental requirement for ensuring the sustainable future of businesses. "For emerging economies like Nepal, ESG opens doors to new opportunities and is crucial for risk management. This initiative will help Nepali businesses align with international standards, fostering competitiveness and resilience," he stated.
Strengthening the Framework for Sustainable Business
President Dhakal outlined FNCCI's plans to integrate existing efforts in environmental sustainability, social initiatives, and governance into a unified ESG framework. This approach, he explained, would enhance the private sector's ability to address complex global challenges while meeting growing expectations for responsible business practices.
The workshop also highlighted the Nepal Rastra Bank's Environmental and Social Risk Management Guidelines as a positive step toward incorporating ESG considerations into financial and business decision-making. Recent amendments to over 30 laws were acknowledged as key reforms expected to attract both domestic and foreign investments.
Survey-Driven Capacity Building
Participants engaged in surveys designed to identify the training and capacity-building needs of businesses regarding ESG principles. This effort aims to provide targeted support for the private sector in adopting these practices.
Expanding ESG Awareness Across Provinces
Building on the success of the Kathmandu event, FNCCI announced plans to organize a similar workshop in Koshi Province. The workshop will continue to focus on promoting awareness and collaboration among stakeholders, including policymakers, private sector leaders, and international partners.
A Call for Collective Action
The event concluded with a call to action for stakeholders to adopt ESG principles as a collective strategy for advancing sustainable development goals in Nepal. The discussions underscored the necessity of integrating environmental, social, and governance aspects into the core of business operations to address global challenges effectively.
This initiative marks a significant step in Nepal's journey toward sustainable economic growth and positions the private sector as a key driver of responsible development.
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