Nepal BFSI Summit 2024: Pioneering Sustainable Financing for Climate Resilience

The Nepal BFSI Summit 2024 in Kathmandu spotlighted the need for sustainable financing mechanisms to tackle climate change. Experts and leaders from Nepal and India discussed innovative strategies and regional collaboration in the BFSI sector to mitigate climate challenges and promote low-carbon economic growth in South Asia.

The Nepal BFSI Summit 2024, held in Kathmandu, brought together leaders and experts to explore strategies for sustainable financing aimed at climate change mitigation and adaptation. The event, organized by the Banking Finance and Insurance Institute of Nepal (BFIN) in collaboration with the India-Nepal Centre of the PHD Chamber of Commerce and Industry (PHDCCI), served as a platform for examining the financial sector's role in combating environmental challenges.

Discussions centralized on the theme 'Deepening Sustainable Financing for Climate Change Mitigation and Adaptation,' emphasizing the BFSI sector's potential to foster innovation and resilience against climate-related risks. Indian Ambassador to Nepal, Naveen Srivastava, underscored the immediate climate threats faced by South Asian countries, highlighting a pressing need for regional cooperation and solutions to address glacier melting and frequent floods.

Industry leaders and policymakers engaged in panel discussions and technical sessions, focusing on how financial institutions could spearhead sustainable development and facilitate a shift towards low-carbon economies. The summit also explored emerging opportunities in green financing and the necessary paradigm shift required to handle climate challenges effectively. Manjeev Singh Puri, Chairman of PHDCCI India, advocated for leveraging private and institutional finance to achieve 'Bikshit Bharat's' net-zero goals, urging Nepal to adopt innovative financial approaches.

(With inputs from agencies.)