President Ram Chandra Paudel has said that the vast resources spent for arms should instead be redirected for adaptation and mitigation efforts to protect human civilization, and ensure a habitable planet for the future generations.    
Leading the Nepali delegation to the CoP29 World Leaders Climate Action Summit underway in Baku, Azerbaijan, the President on Monday said countries like Nepal are compelled to divert their meagre resources, originally allocated for poverty reduction, towards adaptation and mitigation, which is a grave injustice.    
"While the pledges for climate funds have been insufficient to begin with, they have also remained unmet. It is even more distressing to note that the targeted communities do not receive the funds due to complicated processes," he said and called for urgent implementation of ‘polluters pay and compensate’ principle.      
He also called for urgent operationalization of the Loss and Damage Fund, which is intended to support the vulnerable developing countries.

“Climate finance must recognize the contributions of countries like Nepal in protecting biodiversity, the Himalayan cryosphere, as well as in supplying freshwater. These nations must also be adequately compensated for climate-related loss and damage.”    
Stating that Nepal is committed to utilizing natural resources sustainably and prudently, as the country implements its ambitious emission reduction target set out in the second NDC, contributing to the global well-being and protection of mother earth, the President said Nepal has increased forest cover and enhanced production and supply of clean energy, among a few of its efforts.    
"But the challenges posed by global warming and climate change far exceed our capacity and resources to manage them," he added.    
In his statement read out in his native Nepali language, President Paudel also called for technology transfer and adequate capacity building grants in accordance with the Paris Agreement and the commitment of developed countries. Climate finance must be provided in the form of grants, and these should be disbursed through national treasuries to ensure effectiveness.    
He also expressed hope that the conference would make concrete progress in defining a clear NCQG vector based on the principles of climate justice, equity, and capacity, with the aim of limiting global warming to 1.5 degrees and ensuring the climate justice and sustainable development of least developed and Himalayan nations. -- RSS