Nepal, Dec. 18 -- Nepal has entered a new phase of climate financing, with the recently published Carbon Trading Regulation, 2025. Despite having one of the lowest per capita emissions in the world, with less than 0.05 percent of the global greenhouse gas emissions, the country remains vulnerable to climate change. The new regulation could be a game-changer for the country's development trajectory, inviting not only environmental but also societal and economic benefits.

When it comes to the National Determined Contributions (NDCs), Nepal has performed relatively well in areas such as forest conservation, with coverage now reaching 46 percent. Nepal recently received $9.4 million from the World Bank's Forest Carbon Partnership Facility fo...