Green finance for green fuel

Nepal’s diverse geo-climatic system, which combines heavy monsoons, steep terrain and remoteness, renders the country vulnerable to natural disasters from floods and landslides to droughts, and waterborne diseases.

In Nepal almost all of electricity is generated with hydropower. On the household level, however, most of the energy used comes from biofuels and waste. Over 20 million people still rely on traditional biomass for cooking, only 35% of the population has access to clean fuels. The need for energy efficient products is crucial for the reduction in air pollution – in the capital Kathmandu alone air pollution is directly linked to 5,000 deaths each year.

With Nepal’s economy poised to grow by 4-5% per year in the years ahead, the country’s industrial, transport and residential sectors will expand as well.

GCPF Partnership: Global IME as a market leader in green finance in Nepal

When partnering with GCPF in 2023 Global IME, the largest bank in Nepal, was already one of the leading banks for financing large scale Renewable Energy (RE) projects (hydro- and solar power) in the country. In the just under two years of partnership the bank has expanded into other green products as well and its portfolio has grown substantially. Furthermore, the bank also established the Green and Sustainable Banking Unit – a new organizational unit that works closely with our climate advisory specialist team.

Beyond the numbers

With Nepal’s economy poised to grow by 4-5% per year in the years ahead, the country’s industrial, transport and residential sectors will expand as well. If this expansion occurs on the back of outdated, fossil-fuel powered technologies, CO2 emissions will continue to rise.

GCPF Partner since: 2023

NIGERIA – Bisedge

Green finance for green fuel