Finance Minister Returns Home after Attending COP31

Finance Minister Dr Swarnim Wagle returned home today after attending the United Nations Climate Change Conference (COP31) in Antalya of Turkiye. During the Conference, he addressed the Seventh Biennial Ministerial Dialogue on Climate Finance on behalf of 44 least developed countries (LCDs).

Similarly, Nepal was inducted as the 105th (new) member of the ‘Coalition of Finance Ministers for Climate Action’ which was established seven years ago and the Minister presented a policy concept regarding ‘finance for resilience’ for discussion.

According to the Finance Ministry Secretariat, during the Conference, Nepal secured commitments to collaborate on a special international support package from Barbados Prime Minister Mia Mottley, who has been leading a global campaign for debt relief in the aftermath of disasters and Secretary of State for Foreign and Commonwealth Affairs of the United Kingdom, Edward Miliband.

The UK is set to assume the presidency of G20, a group of countries that accounts for 85 percent of the global economy. Similarly, the Finance Minister discussed with five special ambassadors for climate change: Rachel Kyte (UK), Will Nankervis (Australia), Mattias Frumerie (Sweden), Dale Webber (Jamaica), and Selwin Hart (Envoy of the UN Secretary-General) in an attempt to secure support for the agenda that Nepal raised during COP 31.

The Finance Minister also discussed with the top leadership of Greenhouse Climate Fund and specially addressed a programme relating to Climate Change Measurement Fund of the Geneva -based World Meteorological Orgnisation (WMO) from which Nepal has also been benefitted.

Dr Wagle met with Professor Johan Rockström and Professor Nicholas Stern, both internationally renowned experts in the fields of climate and economics. According to his secretariat, he was interviewed by The New York Times and attended an event honoring 100 of the world’s most influential individuals including the Finance Minister himself recognized by Time magazine for his contribution to climate action. —