Kathmandu, September 26, 2024
A seminar focusing on integrating Climate Finance and Green Finance Taxonomy in Nepal's banking industry was held in Kathmandu, organized by Nepal Bankers Association in collaboration with Invest for Impact Nepal.
The event brought together high-profile bankers, industry experts, and international stakeholders to discuss Nepal's role in fostering a climate-resilient banking system.The opening session featured remarks from Her Excellency Dr. Danielle Moulvy, Ambassador of Switzerland to Nepal, followed by a discussion on the relevance of climate finance in Nepal's banking industry led by Mr. Sunil K.C., President of the Nepal Bankers’ Association.
Highlighting the urgency of addressing climate-related risks in the financial sector, Michael Jongeneel, CEO of FMO Netherlands, stressed the importance of incorporating green finance strategies into banking operations.One of the key moments of the event was the launch of the Sustainable Finance Department at the Nepal Bankers Association, initiated by Governor Maha Prasad Adhikari of Nepal Rastra Bank.
This marks a significant step towards institutionalizing climate and sustainability considerations in Nepal's financial framework. Governor Adhikari emphasized the Nepal Rastra Bank's vision of building a climate-resilient banking industry that supports the nation's green growth trajectory.
During the technical session, the panel discussed integrating climate finance taxonomy into banking, risk management strategies, and financial alliances promoting sustainable finance. Experts like Ms. Yuliana Chung, former Managing Director of DBS Singapore, and Ms. Antonia Flück of the Swiss Agency for Development and Cooperation shared insights on global trends and their relevance to Nepal.
The seminar came to an end with a networking dinner that encouraged collaboration among key players to push climate finance initiatives in Nepal's financial sector.
