KATHMANDU, JUNE 20
The Nepal Stock Exchange (NEPSE), in collaboration with the International Finance Corporation (IFC) and with support from the European Union (EU), has conducted a two-day training on International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards, aiming to strengthen sustainability reporting practices in Nepal's private sector.
The training, held under the EU's Accelerating Climate-Smart and Inclusive Infrastructure in South Asia (ACSIIS) initiative, brought together 40 participants from the real sector and over 50 representatives from banks and financial institutions.
The sessions, led by IFC experts, focused on aligning Nepal's corporate reporting practices with the International Sustainability Standards Board (ISSB) framework - a global baseline for sustainability disclosures. More than 20 jurisdictions, including Bangladesh and Sri Lanka, have already adopted the standards.
"Providing sustainability-related financial information alongside traditional financial reporting reassures capital providers that companies are effectively managing material risks and seizing opportunities arising from the transition to a more sustainable and resilient future," said Niranjan Phuyal, Acting CEO, NEPSE.
The training emphasized the growing demand from both investors and consumers for transparency and accountability in corporate practices. It aimed to equip participants with tools and knowledge to enhance disclosures and promote sustainable decision-making.
"Transparency is crucial to instill trust among investors and stakeholders," said Geertrui Louwagie, Deputy Head of Cooperation, Delegation of the EU to Nepal. "Given Nepal's vulnerability to natural disasters and climate change, identifying risks and capitalizing on opportunities is even more critical."
NEPSE, IFC, and the EU reaffirmed their shared commitment to fostering sustainable business practices and improving Nepal's financial ecosystem. They noted that aligning corporate reporting with global sustainability standards will be key in driving resilience, investor confidence, and long-term prosperity.
