Nepal to receive significant revenue from carbon sales

Kathmandu, October 5 — As per an agreement with the World Bank, Nepal is set to receive NPR 1.6 billion from carbon sales within the next month. The Forest and Environment Ministry's REDD Implementation Center informed that this amount is compensation for carbon dioxide reductions achieved in 13 Terai districts from 2018 to 2024.

Nepal will earn this amount for sequestering 2.4 million tons of carbon over six years across these districts, from the Bagmati River to the Mahakali River, at a rate of $5 per ton. The ministry stated that the funds will be received by October.