KATHMANDU - A significant stride towards sustainable housing in Nepal was taken as Nabil Bank entered into a Memorandum of Understanding (MoU) with the European Union (EU)-backed Building Energy Efficiency in Nepal (BEEN-Project). This collaboration aims to bolster energy-efficient and climate-resilient building designs in Nepal.
The agreement was formalized by Gyanendra Prasad Dhungana, CEO of Nabil Bank, and Daniel Neyer, Project Leader of BEEN-Project, in the presence of other key professionals. The alliance will focus on crafting innovative financial solutions, enhancing technical abilities to evaluate these packages, and providing a pathway to access specialized financial schemes promoting eco-friendly building concepts.
Highlighting Nabil Bank's commitment to environmental responsibility, Chairman Upendra Prasad Poudyal expressed the bank's consistent efforts in battling climate change. "Sustainable construction not only aids the environment but also has an influential effect on our society and economy," he remarked. The chairman emphasized the need for significant investment to attain a net-zero emission target by 2045.
To champion the cause of sustainable housing, Nabil Bank has unveiled the 'Sustainable Housing Loan.' BEEN-Project offers its expertise in setting the criteria and also aids in training, promotion, and spreading awareness about Sustainable Housing. CEO Dhungana shed light on the bank's numerous sustainability initiatives, including the financing of electric vehicles and the promotion of sustainable housing.
Expressing his enthusiasm about the partnership, Project Leader Neyer stated that BEEN-Project, under the EU's SWITCH-Asia Program, aspires to endorse a low carbon, resource-efficient, and circular economy through the EU Green Deal and Global Gateway. He voiced optimism about their combined efforts paving the way for a sustainable future.
Dr. Ranjan Prakash Shrestha from the EU Delegation to Nepal lauded Nabil Bank's sustainable endeavors and predicted it would inspire other banks and businesses to adopt sustainable practices.
The local authority, Kathmandu Metropolitan City, has disclosed its plans to integrate energy efficiency components into Building By-laws.
To underline their commitment to sustainable development goals, Nabil Bank has established a Sustainable Banking division that integrates ESG standards. Notably, this project sees collaborative efforts from Universität Innsbruck (UIBK), Austria, MinErgy Pvt Ltd, Nepal; Greentech Knowledge Solutions Pvt Ltd, India, and Asociación Española de Normalización (UNE), Spain, all aiming to foster a green transformation in Nepal's building sector.
