Climate change needs collective address: DPM Paudel

KATHMANDU: Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel has emphasised that climate change and trade sustainability are global agendas requiring collective action.

Inaugurating the third annual conference on 'Climate Change and Sustainability of Trade in South Asia', organised jointly by the World Trade Organization and Kathmandu University in the federal capital on Saturday, DPM Paudel highlighted Nepal's vulnerability to climate change, which adversely impacts its socio-economy and infrastructure.

He suggested that decentralising production centres and diversifying supply chains could mitigate risks to trade infrastructure.

The DPM expressed hope that the conference would address pressing climate change issues in South Asia and foster common perspectives among policymakers, researchers, and private sector representatives, leading to effective future strategies. He stressed the importance of showcasing Nepal's climate efforts, despite its minimal contribution to climate change, and prioritising mitigation and adaptation actions.

Finance Minister Paudel also underscored the need for developing climate-resilient infrastructure to ensure an uninterrupted supply chain.

Registrar at Kathmandu University, Dr Achyut Wagle, stated that initiatives for sustainable economic development should be private sector-friendly. He emphasised that balanced efforts in South Asia could promote trade and that continuous actions are necessary to mitigate climate change impacts.

Joint Secretary at the Ministry of Industry, Commerce and Supply, Devraj Joshi, noted that addressing trade and climate change issues could advance sustainable trade in Nepal. He believed that research and studies in this sector would enhance policy and action plans.

Representatives from nine countries, including Nepal, India, Bangladesh, China, Turkey, and Indonesia, attended the event.