Finance Minister Wagle highlights gap between climate data and policy decisions

Finance Minister Dr. Swarnim Wagle stated that Nepal’s main challenge in addressing climate change is not a lack of weather and climate data, but rather the inability to link available data with financial and policy decisions. He made these remarks on Tuesday during a high-level program at the 31st Conference of the Parties (COP31) to the United Nations Framework Convention on Climate Change (UNFCCC) in Antalya, Türkiye.Speaking at a Systematic Observations Financing Facility (SOFF) event at the UNFCCC pavilion, Dr. Wagle emphasized the need to integrate weather and climate data with financial security and risk management. He cited the Bhotekoshi-Trishuli flood of August 26, 2026, as an example where existing loan facility triggers, insurance system indicators, and early warning systems relied solely on rainfall and river levels. However, as the event was not caused by rainfall, these tools failed to identify the actual risk.“Nepal is not a country without data. The gap I wish to point out is not between the country and its data, but between data and decisions,” Dr. Wagle said. He explained that without data, there are no triggers for parametric insurance or pre-arranged finance, leaving only expensive debt as a solution.Dr. Wagle stressed the need for increased investment in basic weather and climate observation systems to help vulnerable countries cope with escalating climate change risks. He noted that Nepal has become a laboratory for climate-related risks and must now become proficient in scientific study, data collection, and risk identification.“Let’s invest at the foundational level. On top of that, let’s build together, so that the next finance minister who comes to this platform has triggers that read not just rain, but also mountains,” he said.Dr. Wagle added that lessons from events Nepal experienced in 2026 should be utilized globally, and international cooperation is essential to prevent any country from having to relearn such disaster lessons.The Bhotekoshi-Trishuli flood on August 26, 2026, was caused by a glacial and rock avalanche from Langtang Lirung in Rasuwa district, not by rainfall. A 2.0 square kilometer hanging glacier and rock mass detached at approximately 5,200 meters, striking the Lende Glacier at 3,800 meters. The resulting flood traveled 20 kilometers to the Nepal-China border at Rasuwagadhi within 7-8 minutes.The disaster resulted in at least 1,455 deaths and 5,285 missing persons in Nepal, and 43 deaths and 519 missing in China’s Tibet Autonomous Region, as of October 5, 2026. Nepali officials estimate the economic cost of the flood and subsequent reconstruction at approximately $4.8 billion. The United Nations Development Programme (UNDP) initially estimated that the floods and landslides in the Bhotekoshi-Trishuli river system left at least 2.2 million tons of debris in the analyzed areas by September 1, 2026.COP31 is taking place in Antalya, Türkiye, from November 9 to 20, 2026, with the World Leaders’ Summit scheduled for November 11 and 12. SOFF was established by the World Meteorological Organization (WMO), UNDP, and the United Nations Environment Programme (UNEP) as a foundational element and delivery mechanism for the UN Secretary-General’s ‘Early Warnings for All’ initiative, launched in 2022.Nepal’s government published a draft of the ‘National Climate Change Policy, 2083’ (2026) on October 6, 2026, and is seeking public feedback and stakeholder recommendations before its final approval. Nepal aims to achieve carbon neutrality by 2045 and negative carbon emissions by 2050, as outlined in its long-term strategy issued in 2021.The actual cause of the 2026 Bhotekoshi-Trishuli flood is still under investigation, with assessments ongoing for the possibility of a Glacial Lake Outburst Flood (GLOF) or other upstream hydropower events. The exact number of foreign nationals missing in the 2026 Bhotekoshi-Trishuli flood is not yet available.