Finance Minister Urges Global Action on Climate Change at V-20 Meeting

Thu, Apr 18, 2024 12:35 PM on Latest, Economy, National,

Finance Minister Barshaman Pun emphasized the importance of prioritizing underdeveloped Himalayan nations like Nepal for accessing compensation, biodiversity, and adaptation funds aimed at addressing climate change damages. He urged developed countries to honor their commitments and actively work towards safeguarding the world from climate change effects.

Speaking at the 12th ministerial meeting of the V-20 in Washington, DC, Minister Pun underscored the necessity of global collective commitment to mitigating climate change risks. He highlighted the challenges faced by Nepal, including the plight of its poor and marginalized populations suffering from climate change impacts, such as rapid Himalayan snow melting and increased glacial lake outburst flood risks.

Minister Pun also addressed issues like irregular rainfall, floods, landslides, and droughts intensifying due to climate change. Furthermore, he emphasized the threat posed by natural disasters to sustainable development efforts, human health, and livelihoods. Minister Pun stressed the significance of developed nations providing financial assistance for climate adaptation programs in countries like Nepal, despite their minimal contribution to climate change.

Minister Pun participated in the joint spring meeting of the World Bank Group and the International Monetary Fund during his visit to the United States. The V-20 advocates for reducing climate change risks and increasing financial support to manage the global economic transition resulting from climate change.