Himal Press 
KATHMANDU: Minister for Finance Dr Prakash Sharan Mahat has reminded the international community that Nepal serves as the water source for over one billion people in South Asia.
Addressing the 7th assembly of the Global Environment Facility in Canada on Sunday, Dr Mahat highlighted Nepal’s dedicated efforts in biodiversity and environmental conservation giving examples of recent increase in the numbers of tigers and rhinos. “Forests and wildlife are not only significant heritages for Nepal but also for the global community. Despite these efforts, Nepal remains among the 10 countries most vulnerable to climate change. The nation is experiencing a rise in erratic weather events such as droughts, sporadic rainfall, and landslides,” Dr Mahat said in his address, according to a statement issued by his secretariat.
Dr Mahat also drew the attention of the world community to Nepal’s estimated temperature increase of 0.5 to 2 degrees Celsius by 2030 compared to the pre-industrial period. He added that the country would require around $50 billion to cope with the losses and damages resulting from this temperature rise by 2050. He also appealed for resources from the New Global Biodiversity Framework Fund (GBFF), recently approved by the assembly, to be directed towards the most vulnerable countries.
On the sidelines of the conference, Minister Mahat engaged in discussions on bilateral issues with chiefs and representatives from various international organizations. During a bilateral meeting with the CEO of the Global Environment Facility, Carlos Manuel Rodriguez, the CEO applauded Nepal’s conservation efforts in biodiversity, environment, and wildlife. Rodriguez praised Nepal for funding 79% of total investments in these areas through internal resources. He pledged support from the Global Environment Facility (GEF) for introducing new technologies to develop green infrastructure and replace plastics, as well as for effective waste management. Minister Mahat urged the GEF to consider increasing grant assistance to Nepal for climate actions.
Additionally, in meetings with the Chief Conservation Officer of the World Wildlife Fund, Nik Sekhran, Administrator of the UNDP, Achim Steiner, and Acting Director General of the International Union for Conservation of Nature (IUCN), Dr Grethel Aguilar, discussions centered around the global impact of climate change, Nepal’s challenges, and ways to mitigate risks. During these meetings, Mahat highlighted Nepal’s environmental conservation efforts and achievements
Canadian Prime Minister Justin Trudeau delivered a special address at the closing ceremony of the GEF Assembly, attended by ministers from 83 countries and stakeholders and representatives from 185 countries.
