30 September 2024, Kathmandu
Nepal Bankers’ Association (NBA), in collaboration with Invest for Impact Nepal, hosted a pivotal seminar aimed at integrating Climate Finance and Green Finance Taxonomy into Nepal’s banking industry.
Nepal Bankers’ Association Sustainable Finance Department
The seminar brought together key figures from the financial and environmental sectors to discuss the future of sustainable finance and the role of Nepal’s banking sector in mitigating climate change.
Key Highlights of the Seminar
The event kicked off with opening remarks by H.E. Dr. Danielle Meuwly, the Ambassador of Switzerland to Nepal, and Mr. Sunil KC, President of the Nepal Bankers’ Association. Both speakers highlighted the critical need for integrating sustainable finance into Nepal’s financial ecosystem to ensure a resilient future.
One of the key milestones of the seminar was the official launch of the NBA’s Sustainable Finance Department. This department aims to spearhead sustainable banking practices in Nepal by promoting climate finance and green finance. The launch was led by Mr. Maha Prasad Adhikari, Governor of Nepal Rastra Bank (NRB), alongside H.E. Dr. Danielle Meuwly and Mr. Michael Jongeneel, CEO of FMO Netherlands, showcasing the commitment of national and international stakeholders to a greener future.
Insightful Discussions on Green Finance
An engaging session on climate finance integration was led by Ms. Yulanda C., which provided actionable insights into how Nepalese banks can adopt green finance practices. The event also featured a panel discussion moderated by Mr. Buddhika Samarasinghe, sparking meaningful dialogue on sustainable finance. The panel included prominent experts such as:
Mr. Guru Prasad Paudel, Nepal Rastra Bank
Ms. Jace Jeesun HAN, FMO
Ms. Antonia Flück, Swiss Agency for Development and Cooperation (SDC)
Ms. Katja Silva-Leander, Cadmus UK
Mr. Dipak Kumar De, NSBI
The discussions focused on the role of green finance taxonomy and climate finance in promoting environmental sustainability within the banking industry. Panelists shared best practices from international markets and discussed how Nepal can accelerate its transition towards a greener and more sustainable banking sector.
NBA’s Commitment to Sustainable Finance
The launch of NBA’s Sustainable Finance Department is a major step toward institutionalizing green finance in Nepal. This department will focus on promoting investments that prioritize environmental sustainability and climate resilience. By adopting green finance taxonomy, the department aims to streamline how financial institutions identify, report, and manage sustainable investments.
The seminar underscored the importance of aligning Nepal’s banking practices with global sustainability goals, particularly in the areas of climate finance and green finance. This initiative is part of the NBA’s broader strategy to contribute to Nepal’s commitments under the Paris Agreement and its Sustainable Development Goals (SDGs).
Conclusion: Paving the Way for a Greener Future
As Nepal faces increasing environmental challenges, the role of the banking industry in promoting sustainable development has never been more crucial. By integrating climate finance and green finance taxonomy, Nepal’s banking sector is taking a leading role in building a more resilient and sustainable future.
The successful seminar highlighted the need for collective action from banks, regulators, and international partners to advance green finance in Nepal. The discussions have paved the way for future initiatives that will further strengthen the country’s commitment to sustainable finance and environmental protection.
For more: Nepal Bankers’ Association Sustainable Finance Department