KATHMANDU, Sept 4: The Government of Nepal (GoN), represented by the Ministry of Forests and Environment (MoFE), and the Global Green Growth Institute (GGGI) have signed a Host Country Agreement (HCA) in Seoul, the Republic of Korea, paving the way for deeper collaboration on climate action and sustainable development.
GGGI, which began operations in Nepal in 2015, has worked closely with multiple ministries through Green Growth Potential Assessments and Country Planning Framework activities. These initiatives laid the foundation for a formal partnership, established with a Memorandum of Understanding in 2017, as per the press release.
Growing a Green Economy
The newly signed HCA is expected to strengthen Nepal’s ability to mobilize green finance and implement green growth initiatives, according to the release. Officials said the agreement will support Nepal’s climate priorities by fostering stronger cooperation and promoting climate-resilient development.
“Nepal has demonstrated strong leadership in biodiversity conservation and climate action. As we approach graduation from Least Developed Country status in 2026, mobilizing investment and scaling green finance will be critical. GGGI’s partnership is vital for helping us deliver on our commitments and building resilience for our most vulnerable communities,” the release quoted Dr. Rajendra Prasad Mishra, Secretary of the Ministry of Forests and Environment, as saying.
GGGI Director General Sang-Hyup Kim also highlighted Nepal’s leadership in sustainable forestry, renewable energy, waste management, and climate-smart agriculture. “Together we are building Nepal’s capacity to apply innovative financing mechanisms, such as carbon markets and green bonds, to channel resources where they are needed most,” Kim said in the release.
Nepal became a member of GGGI in 2022, with its Nepal office hosted by MoFE at the Department of Forests and Soil Conservation.
Founded as a treaty-based intergovernmental organization in 2012 at the United Nations Conference on Sustainable Development, GGGI now has 52 Member States and 30 partner countries. The institute supports its members in achieving inclusive, sustainable, and green economic growth through technical support, capacity building, policy planning, and investment facilitation, according to the press release.
