Nepal holds high growth potential and will also fulfil its national climate change targets by 2030, said a recently-released global report.<\/p>\n
The International Finance Corporation\u2019s (IFC) report titled \u2018Climate Investment Opportunities in South Asia’, released last week, said Nepal holds USD 46.1 billion worth investment potential and would also fulfil its national climate targets promised under the Paris Agreement by 2030.<\/p>\n
According to the report, Nepal offers such opportunities in key sectors such as transport infrastructure, renewable energy and municipal solid waste for the 2008-13 period as part of its moves towards achieving climate change targets.<\/p>\n
IFC\u2019s assessment was based on Nepal\u2019s commitment under Nationally Determined Contributions (NDC) to the United Nations Framework Convention on Climate Change in October 2016.<\/p>\n
In its NDC, Nepal promised generation and distribution of 12,000 MW hydroelectricity and 2,100 MW solar energy, better waste management and control of methane emission, while also equipping every rural household with smokeless cooking stoves by 2030.<\/p>\n