Carbon trade can fetch Rs 3.5mn a year

Kathmandu, September 3:

Nepal is set to earn $3.5 million every year under the Clean Development Mechanism (CDM) — an environment—friendly world carbon trade.

It is informed at a programme organised here today that Nepal earned $600,000 last year from the carbon trade for using technologies that minimise risk of global warming, cut carbon emission and protect environment.

At the programme organised by the Ministry of Environment, Science and Technology to discuss the ongoing activities on carbon trade, experts discussed on issues related to development and expansion of renewal energy and its potentials, strategies to be adopted and identification of roles for government and non-governmental organisations.

The experts opined that Nepal had a lot of potentials in carbon trade due to its geography and adaptive environment

Executive Director of Biogas Sector Partnership-Nepal, Saroj Raj, informed that annual carbon trade under the Clean Development Mechanism was worth around $10 billion across the world.

“Nepal should reap the benefits of carbon trade,” he added.

Environment expert at the Ministry of Environment, Science and Technology Batu Krishna Upreti said China and India were earning half of the total global earning from the

carbon trade. He said

authorities concerned should make every effort for the promotion of carbon trade through maximum use of alternative sources of energy.