{"id":51879,"date":"2024-11-15T19:57:51","date_gmt":"2024-11-15T14:12:51","guid":{"rendered":"https:\/\/www.nepallivetoday.com\/?p=51879"},"modified":"2024-11-15T22:59:47","modified_gmt":"2024-11-15T17:14:47","slug":"there-is-a-significant-funding-gap-to-implement-adaptaion-plan-dr-wagle","status":"publish","type":"post","link":"https:\/\/www.nepallivetoday.com\/2024\/11\/15\/there-is-a-significant-funding-gap-to-implement-adaptaion-plan-dr-wagle\/","title":{"rendered":"There is a significant funding gap to implement adaptation plan:\u00a0\u00a0Dr Wagle"},"content":{"rendered":"\n

Baku<\/strong>: Member of the Federal Parliament \u00a0and Vice-Chair of the Rastriya Swatantra Party (RSP),\u00a0Dr Swarnim Wagle, has called for a bold departure in the way external finance is channelled to avert, minimize and address loss and damage associated with the adverse impacts of climate change.<\/p>\n\n\n\n

Addressing three separate panel discussions on the sidelines of the 29th<\/sup> Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC), also known as COP29, in Baku on Thursday, Dr Wagle said that Dr Wagle there was a significant funding gap of 85 percent in implementing adaptation plans expected to cost a whopping US$47 billion by 2030. “Most risks are cross-boundary, so there is the need for incentivized regional cooperation for data, knowledge, and technology sharing protocols to pave the way for derisked and depoliticized decarbonization efforts,\u201d he added.<\/p>\n\n\n\n

Current approaches to humanitarian response are not effective, so there is a need to shift gears with urgency, agility and responsiveness being the new metrics of operation to improve upon long gestation periods and rigid budget cycles of aid bureaucracies, said Dr Wagle. \u201cThe new Loss and Damage Fund should be an explicit component of the New Collective Quantified Goal (NCQG) being negotiated in Baku. New grants could be allocated directly to government budgets and then to communities without the involvement of costly transactional intermediaries. And to avoid fungibility, they must be accounted to be new and additional,\u201d he said.<\/p>\n\n\n\n

The  Hindukush Himalaya mountains which store the largest amount of fresh water outside the two poles and feed ten major river systems are bearing the brunt of \u2018elevation dependent warming\u2019 with climate disasters likely to escalate in scale, frequency and intensity, he added.<\/p>\n\n\n\n

Dr Wagle, a former vice-chair of the National Planning Commission, said that while global solutions entail a time lag, threats posed by air pollution need regional action. He said, \u201cwe have to reclaim the original raison d\u2019etre of regionalism as challenges are bigger than what one country can solve. We have to reduce risks from idiosyncratic and systemic shocks, raise incomes of our communities through green growth, and cut costs to reduce distance and connect markets.\u201d<\/p>\n\n\n\n

‘Significant GDP loss due to disaster’<\/strong><\/p>\n\n\n\n

\u201cIn August 2024, glacial lake outburst flood (GLOF) swept away the village of Thame in the Everest region causing huge losses to local communities. Only 5 out of 200 potentially dangerous glacial lakes in the Hindu Kush Himalayas are monitored,\u201d said Dr Wagle adding, \u201cPost-monsoon rain in Nepal in September this year was the heaviest in 54 years causing at least 250 deaths. Dr Wagle quoted a study to assert that during 2017-2021, Nepal lost more than two percent of GDP due to climate induced disasters, which is expected to increase to 5 percent of GDP by 2030.<\/p>\n\n\n\n

Dr Wagle emphasised that the National Climate Change Policy adopted by the government of Nepal in 2019 has committed to direct 80 percent of climate finance to the local level. Nepal\u2019s Nationally Determined Contributions (NDC) is 1.5\u00b0C aligned, and its Local Adaptation Plan of Action (LAPA) through 753 governments could foster community-based adaptation. \u201cKey to LAPA is the empowerment of local communities as they are on the frontlines and are the first responders,\u201d he said.<\/p>\n\n\n\n

The ecological integrity of South Asia demands creative transboundary cooperation superseding short-term political strains, he added.<\/p>\n\n\n\n

The separate panel discussions were steered by Canada\u2019s International Development Research Centre (IDRC), the UK\u2019s International Institute for Environment and Development (IIED) and the University of Reading\u2019s Walker Institute. <\/p>\n","protected":false},"excerpt":{"rendered":"

Baku: Member of the Federal Parliament \u00a0and Vice-Chair of the Rastriya Swatantra Party (RSP),\u00a0Dr Swarnim Wagle, has called for a bold departure in the way external finance is channelled to avert, minimize and address loss and damage associated with the adverse impacts of climate change. Addressing three separate panel discussions on the sidelines of the 29th Conference […]<\/p>\n","protected":false},"author":3,"featured_media":51880,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[264,4,15],"tags":[],"class_list":["post-51879","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-climate","category-politics","category-top-stories"],"acf":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.nepallivetoday.com\/wp-content\/uploads\/2024\/11\/09757bb9-10df-4d6a-90b2-121743424024-e1731679909193.jpg?fit=1200%2C920&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/pcWLTd-duL","_links":{"self":[{"href":"https:\/\/www.nepallivetoday.com\/wp-json\/wp\/v2\/posts\/51879","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nepallivetoday.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nepallivetoday.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nepallivetoday.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nepallivetoday.com\/wp-json\/wp\/v2\/comments?post=51879"}],"version-history":[{"count":2,"href":"https:\/\/www.nepallivetoday.com\/wp-json\/wp\/v2\/posts\/51879\/revisions"}],"predecessor-version":[{"id":51882,"href":"https:\/\/www.nepallivetoday.com\/wp-json\/wp\/v2\/posts\/51879\/revisions\/51882"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nepallivetoday.com\/wp-json\/wp\/v2\/media\/51880"}],"wp:attachment":[{"href":"https:\/\/www.nepallivetoday.com\/wp-json\/wp\/v2\/media?parent=51879"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nepallivetoday.com\/wp-json\/wp\/v2\/categories?post=51879"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nepallivetoday.com\/wp-json\/wp\/v2\/tags?post=51879"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}