Welcome to the October issue of the LXI Newsletter where we will focus on the 26th United Nations Climate Change Conference of Parties (COP 26), and Nepal’s initiative at COP 26.
COP 26 Special Section
Glasgow, Scotland will welcome more than 25,000 delegates to COP 26, October 31 through November 12. The event will bring together attendees of COP 26 to the United Nations Framework Convention on Climate Change (UNFCCC), the 16th meeting of the Kyoto Protocol (CMP16), and the third meeting of the parties to the Paris Agreement (CMA3).
The conference will likely include a push for all countries to back a strong statement that recommits to net zero emissions by 2050 – as well as big reductions by 2030 – in addition to specific pledges on ending coal, petroleum-fueled cars, and protecting nature. Developing countries will want a significant financial package over the next five years, to help them adapt to rising temperatures.
As one of those developing countries, Nepal is most vulnerable to climate change, having experienced an increase in climate impacts in recent years. Flash floods, glacial outbursts, droughts, landslides, heat waves, cold spells, and unpredictable rainfall are threatening Nepal’s development efforts, lives, and livelihoods of its citizens, and particularly those of women and marginalized groups. Nepal’s glacial melting has likely been triggered by the black parcel emitted from coal plants in nearby nations such as India.
A designated Least Developed Country (LDC), Nepal has a big stake in the outcome of the UNFCCC’s negotiations process. The Government of Nepal is a party to UNFCCC and ratified the Paris Agreement adopted during its 21st session. Nepal seeks to have strong leadership and representation in the COP 26 and bring forward various agendas, including loss and damage, climate finance, adaptation and resilience, enhanced transparency framework, and the mountain agenda. Additional insights on the issue are in the following articles published by World Bank and Kathmandu Post.
- Black carbon speeding up melting of glaciers, posing water scarcity threat to millions, report finds. Read more..
- COP 26: Himalaya Mountain gallica melting due to the black parcel from the coal plants in India side. Read more..
How can Nepal address these issues? Bringing additional hydro plants to Nepal is one option. During a recent UK-Nepal government event, organized by DMA, Li Xu and other attendees suggested speeding up green financing and tapping into the 43GW economic potential, a major improvement to the current 1.2GW developed projects. (Hydropower Development – Nepal by ADB) This investment will assist Nepal in achieving energy independence, reduce the black parcel, and provide the ability to export to nearby nations with fast economic growth, such as Bangladesh.
News and Reading Lists
- World Energy Outlook 2021. Read more..
- Actis Collects $6 Billion for Energy-Infrastructure Fund. Read more..
- Nations agree to a 15% minimum corporate tax rate. Read more..
- NZ Introduces Law on Mandatory Climate Disclosures. Read more..
- A Turning Point for Renewable Energy in Indonesia? Read more..
- NextEra Energy Partners to acquire a 50% stake in US renewable portfolio. Read more..
We are Actively Seeking
- Solar, wind, and hydro developers with a solid track record and a strong pipeline.
- EU Hydrogen technology startups are ready for commercialization in US and China.
To contact us, please follow this link.
Community, Media, and Events
- Interview Topic: Risk Perceptions and Attitudes in International Mergers & Acquisitions. The content was quoted in Book “You Are What You Risk: The New Art and Science of Navigating an Uncertain World” Published in April 2021 by Michele Wucher, Author of Grey Rhino – the #1 English-language bestseller in China
- Eurowings, German airline’s inflight magazine (Nov. 1, 2021 ~ Dec. 31, 2021)
- We hope to see you in person at Web Summit 2021 Lisbon (Nov. 1 ~ Nov.4, 2021)
To request interviews or speaking engagements regarding renewables, ESG investments, project finance, international CFO services, or cross-border M&A trends and issues, please visit LXI media policy and email [email protected]