Assessing Nepal’s Readiness for Net Zero Emissions by 2045

Nepal aims to reach net zero carbon emissions by 2045, five years ahead of the global goal. Despite its low contribution to global emissions, the nation faces significant challenges due to climate vulnerabilities and developmental aspirations. Achieving this target will require substantial funding, structural changes in key sectors, and robust stakeholder collaboration.

As the global community strives for sustainability, the ambition for net zero carbon emissions by 2050 takes center stage. This goal is crucial for mitigating climate change. Nepal, preparing to transition from a least developed country to a middle-income nation by November 2026, aims to achieve net zero emissions by 2045, five years ahead of the global target. However, it faces significant challenges in balancing economic development with this environmental commitment.

Despite contributing minimally to global carbon emissions, Nepal remains vulnerable to climate change effects, such as erratic rainfall and natural disasters. The 2015 Paris Agreement mandates that signatories submit Nationally Determined Contributions (NDCs) to limit temperature increases. Nepal ratified this agreement and presented its first NDC in 2016, including plans for clean energy, afforestation, and sustainable agriculture. However, a 2020 study revealed that Nepal struggled to meet these initial mitigation targets due to inadequate stakeholder engagement and political commitment.

In 2020, Nepal submitted a second, enhanced NDC aligning with its National Climate Change Policy, 2019, covering sectors like energy, transport, and agriculture. While countries like China and India target later dates for their net zero goals, Nepal’s aim for 2045 poses unique challenges, given its developmental aspirations.

The Government of Nepal has approved an NDC implementation plan with an estimated cost of $33 billion, requiring significant international funding due to dependence on fossil fuels and traditional energy sources. Moreover, obstacles such as policy inconsistency and insufficient infrastructure in sectors such as electric transport hinder progress toward net zero emissions.

Nevertheless, Nepal possesses considerable potential to transition to a low-carbon economy, primarily through hydroelectric power expansion. A thorough assessment of the implications of transitioning too quickly is crucial, highlighting the importance of balancing sustainable development with economic stability. Moving forward, a unified approach among stakeholders is essential, focusing on identified gaps and priorities as Nepal approaches the preparation of its third NDC document.

In summary, while Nepal is committed to achieving net zero emissions by 2045, significant challenges lie ahead, including funding needs and structural transformations within key sectors. Effective stakeholder collaboration will be vital for navigating the intersection of environmental goals, economic growth, and developmental status. The path towards sustainability must consider existing barriers and the need for comprehensive strategies to mitigate potential economic instability as Nepal advances in this critical endeavor.

Original Source: asianews.network