Climate Finance is the amount of money flowing from Developed to Developing countries using different financial mechanisms and sources (e.g. bilateral, multilateral, dedicated climate funds, private).Green Climate Fund is financial mechanism established within United Nation Framework Convention on Climate change (UNFCCC) .IMG_6580It was established by 194 member countries at the 16th COP meeting in 2010 under Cancum Agreement. The main objective of establishment of Green Climate fund is to provide the fund for the developing or least developed nation to mitigate and adapt to the effect of climate Change. The Fund aims for a 50:50 balance between mitigation and adaptation over time.
Nepalese Youth for Climate Action together with Clean Energy Nepal (CEN) organized Green Discussion program on the topic to aware the youth about the background of climate finance on September 12 ,2017 ENPHO Hall, Thapagaon, Baneswor. Mr.Raju pandit chhetri from Prakriti resources centre presented the National and International policies about the Climate Finance. The presentation was type of open Discussion. He stated that the developing countries like our country Nepal contribute low Carbon Emission i.e. 0.027% but the effect is more so the developed countries which emit more carbon must provide the climate fund as the compensation to combact/tackle the effect of climate change. He Highlighted that Nepal is focusing more on the Adaptation but most give equally the priority to mitigation as well though climate change is not because of us. It is duty of developed nation to provide Green climate fund as it is internationally agreed support.
.He also mentioned that the imja Glacier which was in the High risk of outburst was solved by the Fund that we receive as Green Climate Fund. We get support from different Developed countries and International organization. He also expressed that we are always relying more on international fund instead of that we should utilize the national budget in right way .After giving the overall overview he also stated his opinion that when the car spill the water on you on your way you get so much aggressive but not in that much in the case when the vehicles throw the black smoke which is more harmful .various queries like where does Green climate fund comes from, on what basis the fund investment area are selected ,who is responsible for managing the funds, how can we know about this kind of fund that Nepal receive were raised by the participants and all the queries were addressed by the Mr.Raju pandit chhetri.He concluded his discussion with the conclusion remark that instead of relying on other nation for fund we must be able to utilize the budget /money that is within the country.
Over 50 participants from different institutions and organizations attended the Green Discussion series.