December 14: The Confederation of Nepalese Industries has released a report on climate change impact and business adaptation in Nepal prepared in collaboration with PricewaterhouseCoopers (PwC), India. The study report was handed over to Prime Minister Pushpa Kamal Dahal on Wednesday.

The report has suggested collaboration between the government and the private sector to address the impacts of climate change on Nepal's economy and business.

The report has pointed out the risks faced by large and small industries of Nepal due to climate change and has also suggested solutions.

The report covers issues such as creating a conducive environment for business, adopting risk reduction strategies, maintaining the value chain and capitalizing on the opportunities for climate adaptation.

"Nepal has been effectively raising the issue of global climate change and its effects on Nepal in the international forum," reads a statement issued by the CNI, adding, “Even the private sector has given it high priority. Cooperation between the government, civil society, and the business sector is important to face the challenges posed by climate change.”

Rajesh Kumar Agarwal, president of the CNI, said that the report will help Nepali businesses to prepare an action plan to prevent the effects of climate change.

Similarly, the Managing Director of PwC, India, Jaivir Singh, emphasized that there should be a solid strategy to minimize the effects of climate change for the sustainable development of the industry. He expressed his belief that the report will help in building a flexible and sustainable business environment.

Vice President of the CNI, Nirwan Chaudhary, said that Nepal, which has a negligible role in global climate change, is one of the countries most affected by climate change. He said that this report will be important for making a risk reduction strategy against the impact of climate change.