Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The Nepal Stock Exchange (NEPSE), in partnership with the International Finance Corporation (IFC) and with support from the European Union (EU), successfully organized a two-day training program on the IFRS Sustainability Disclosure Standards. This initiative, held under the EU’s Accelerating Climate-Smart and Inclusive Infrastructure in South Asia (ACSIIS) program, is part of Nepal’s broader efforts to enhance sustainability reporting and align with global disclosure standards.
The training brought together over 90 participants—comprising 40 from Nepal’s real sector and more than 50 representatives from banks and financial institutions. Led by seasoned IFC experts, the sessions focused on the International Sustainability Standards Board (ISSB)’s globally recognized sustainability disclosure standards. These standards are gaining momentum globally, with more than 20 jurisdictions, including regional peers like Bangladesh and Sri Lanka, already having adopted them.
Niranjan Phuyal, Acting CEO of NEPSE, emphasized the importance of integrating sustainability-related financial information with traditional reporting. “This reassures capital providers that companies are managing material risks and opportunities tied to the global shift toward sustainability,” he said.
Geertrui Louwagie, Deputy Head of Cooperation at the Delegation of the European Union to Nepal, highlighted the broader implications: “Transparency is vital to building investor trust. Nepal’s efforts mirror a global trend toward sustainability-driven accountability, which is especially relevant given the country’s climate vulnerabilities.”
The training provided hands-on knowledge on applying the ISSB standards in corporate and financial institution reporting. It also aimed to empower Nepal’s private sector to boost transparency, investor confidence, and ultimately, to support a more sustainable and resilient economy.
“This training equips our private sector with the necessary tools and knowledge to meet the expectations of global investors,” Mr. Phuyal added. “Adopting these standards is essential for improving corporate performance and ensuring Nepal is competitive in attracting sustainable investment.”
The event marks a step forward in Nepal’s journey toward aligning its financial ecosystem with international Environmental, Social, and Governance (ESG) standards. As global investors increasingly prioritize sustainable business practices, NEPSE’s collaboration with the IFC and EU is expected to foster improved ESG compliance and transparency within the country’s capital markets.
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