Confederation of Nepalese Industries (CNI) signed a Memorandum of Understanding (MoU) with Himalayan Climate Initiative (HCI) at a public function on July 15 in the presence of Honorable Dr Keshab Man Shakya, Minister at Ministry of Environment, Science and Technology.

The MoU, which is considered as a first bold step of Nepal’s business leaders for putting Nepal on a low carbon development and green economy path, brings CNI and HCI together. The association would help build the capacity of CNI members on issues related to Climate Change and climate financing with the purpose of putting the private sector in leadership role. Dr Shakya, commended the MoU saying, “This is the way to go forward. The private sector, NGOs and the Government must work hand in hand to create a win-win for all.”

Binod Chaudhary, the President of CNI, emphasized on the need for the Government and all sectors to come together through a cohesive platform and to create incentives through practical plans to help the Nepalese industries at this formative stage when they are struggling to move towards a greener path.

Mr. Krishna Gyawali, Secretary at Ministry of Environment Science and Technology, said on the occasion, “We need to build on our strengths in terms of harnessing our renewable energy sources. Creating incentives for the private sector investment in the renewable energy will bring benefits to all.” The CEO and founder of HCI Prashant Singh highlighted the benefits of going green for the Nepalese industries and economy and committed that this partnership will bring concrete results in a relatively short span of time.