The United Nations Climate Change Conference COP27 concluded with a breakthrough agreement to provide “loss and damage” funding for vulnerable countries hit hard by climate disasters. More than 100 Heads of State and Government, over thirty five participants attended the Sharm el-Sheikh Climate Implementation Summit from November 6-18, 2022 with numerous pavilions showcasing climate action around the world and across different sectors.

Nepal being one of the countries highly vulnerable to the impact of climate change due to its sensitive geography raised issues concerning the impact of climate change on the mountain region with much priority. Study shows that Nepal’s highland has witnessed the temperature rise by 1.8 degree Celsius when global warming is measured at 1 degree Celsius, the major consequence of greenhouse gas effect.

Government of Nepal had requested various UN agencies to support for CoP27 preparation and participation.  In this context, UNDP provided technical support for preparation of Position Papers on various themes and also provided support for participation of government and non-government delegates to make the event a success. In addition, UNDP also supported the Government of Nepal to set up its Office for the first time in the CoP (UNFCCC).

The key decisions made during the CoP27 that are of Nepal’s interest:

• Parties agreed to loss and damage fund at COP27 to support developing countries that are particularly vulnerable to the adverse effects of climate change;
• Paris Agreement remains intact as commitments reaffirmed and strengthened despite global head winds;
• Progress achieved across the board at climate change talks and 1.5°C goal still in sight
• Agreement calls for multilateral development banks and international financial institutions to reform practices and priorities to ensure simplified access to climate finance;
• Egyptian COP Presidency urges developed nations to follow the lead of those Parties who made substantial financial commitments.

Some highlights of the events related to Nepal

• UNDP Nepal has joined hands with ICIMOD in Cryosphere Pavilion and NDC Partnership Pavilion. The cryosphere pavilion brought together members of the HKH High-level Task Force and representatives from the HKH countries to highlight the urgency of investments for climate action in the HKH. 
• Nepal and four other countries have been awarded the Local Adaptation Champions Awards at the COP27 climate summit in Egypt.