Carbon trading needs to be effective, Minister Shahi says

BAKU (AZERBAIJAN), NOVEMBER 17: Minister for Forest and Environment, Ain Bahadur Shahi Thakuri, emphasized the importance of continued support from the World Bank to enhance the effectiveness of carbon trading.

He did so Currently while attending the 29th Conference of Parties (COP29) to the UN Framework Convention on Climate Change in Baku, Azerbaijan yesterday, Minister Shahi stressed the need to ensure a robust market for carbon trading.

He expressed gratitude for the World Bank’s contributions to Nepal’s infrastructure development, forest conservation, climate change adaptation and mitigation efforts, and capacity building. Minister Thakuri commended the World Bank’s significant role in promoting social and environmental safety and underscored Nepal’s expectations for continued and increased support.

Highlighting Nepal’s ambitious goal of achieving net-zero emissions by 2045, Minister Thakuri noted that emission reduction and climate adaptation programs are key national priorities.