FM urges developed countries to support hydrogen production

KATHMANDU: Finance Minister Janardhan Sharma urged developed countries to support the production of ammonia and hydrogen production. Sharma was speaking at the second Green Climate Fund Global Programming Conference of ministers from the Asia Pacific Region. He also put emphasis on the need to strengthen international cooperation to effectively mitigate climate change and mobilize private sector investment.

“It is not fair for countries that do not contribute to the increase in temperature to suffer from the problems caused by the activities done by the big economies to increase the global temperature. Countries like Nepal should be prioritized when investing in such projects as carbon production can be reduced by providing it to developed countries as well,” he said. 

The government of Nepal has allocated Rs.100 billion for green energy in the current fiscal year. He also highlighted the importance of the Himalayas for the existence of billions of people.  “Only if the mountains are protected, the water needed for the world’s one and a half billion people will be secured,” he added.  A public-private investment plan worth USD 45 billion has been made in the climate sector for up to  2030.