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Debbie Simpson is Interim Chief Executive Officer (CEO) of Plan International. Her career has been marked by her passions for diversity, change and growth. Winner of Consulting Magazine’s Lifetime Achievement Award for 2018 Women Leaders in Consulting, Simpson has been recognised for her role in Boston Consulting Group (BCG)’s continued excellence. She brings experience on for-profit and not-for-profit Boards, where she has assumed leadership roles on audit and finance committees as well as supporting compensation, strategy and development efforts. Simpson received her bachelor’s degree in biomedical engineering from Duke University and her master’s degree in business from the Massachusetts Institute of Technology’s Sloan School of Management.

Here are excerpts from an interview with her:

Plan International Nepal aims to directly impact 700,000 girls and indirectly reach 1.5m individuals during their strategic period. What key tangible outcomes do you envision?

We aim to ensure these individuals have a fair chance at life, equal opportunities, proper rights, and more. Beyond that, we hope to nurture leaders who can make a broader impact on their communities. Our goal is to create an exponential effect, reaching not only the 700,000 individuals directly but also the 1.5m indirectly.

To date, what kind of effects or impacts have you observed in these communities and among the girls?

We’ve been fortunate to meet many members of our Youth Advisory Council in Nepal, each with their own dreams. They’ve gained confidence and clarity about their aspirations while embracing the role of changemakers. Some have engaged with government ministries, while others have taken on leadership roles in their communities. There are so many ways they’re growing, learning, and contributing to making Nepal a more supportive and progressive place.

One of the most remarkable and inspiring programs I had the opportunity to witness in Nepal is the Champions of Change initiative. The members of this program are truly making a difference at the grassroots level by actively working to prevent child, early, and forced marriages. They go door-to-door, engaging with parents, other youths, and community members to campaign against child marriage. Their unwavering determination and willpower reflect their deep commitment to challenging and dismantling harmful traditional stereotypes in their communities. It’s truly impressive to see such dedication driving meaningful change.

Plan International Nepal focuses on youth development and girls’ leadership. How do you see these areas shaping the future of communities in Nepal?

My generation, and a couple of generations before, have left the world in a challenging position. We owe it to the next generation to equip them to take charge, make an impact, and ensure their voices are heard. After all, it’s their planet and their community. To me, youth is everything.

I am confident the world is in good hands after meeting Sikha, a passionate climate activist. Her courage and determination are truly inspiring. She has boldly challenged Plan International's leadership team to collaborate with youth on climate adaptation efforts and to advocate for Loss and Damage initiatives. Sikha’s leadership embodies the power of young people to drive meaningful change and hold us accountable for creating a sustainable future.

The concept of being locally led and globally connected is a positive framework. What excites you most about your impact during your visit to Nepal?

What’s impactful about being globally connected is the ability to share ideas and best practices across locations. For instance, if something works well in Bangladesh, we can adapt and implement it in Nepal, and vice versa. This week, we’re here for a meeting, and one of the exciting things I’ve seen in Nepal is the Champions of Change program. It’s a global initiative, but here, it focuses on adolescent girls, helping them understand themselves, their potential, and how to engage with their communities. It also involves their families—fathers, mothers, and brothers—ensuring a supportive environment. Champions of Change is a perfect example of successful cross-border initiatives.

How is Plan International committed to empowering youth in Nepal and building their capacity through future projects?

Each year, we add around 250–300 girls to our networks. These girls not only receive our support but also learn from one another, forming communities to share and grow their ideas. Over time, this community will grow to thousands—perhaps ten or twelve thousand—and they will become the foundation for the next generation of leaders.

As the CEO of Plan International, what are your key priorities, and how do they align with Plan International Nepal’s goals?

We’re fortunate that our girls' standing strong strategy has been embraced locally. Nepal’s local strategy builds on global priorities while addressing the country’s specific needs. Currently, we’re focusing on responding to humanitarian crises, especially given the increasing risks of climate-related disasters like floods and earthquakes. We’re also prioritizing support for girls in crisis and strengthening our capacity to act quickly in emergencies.

Ensuring accountability for girls’ development is critical. What strategies can strengthen accountability mechanisms in Nepal?

Collaborating with the government is crucial, as they have a responsibility to drive change and provide services. We engage at local, district, and federal levels to influence education and other key areas effectively. Partnering with local organizations also allows us to involve more people in creating solutions, amplifying our impact.

As a global leader, what advice would you give to young women in Nepal aspiring to leadership roles in their communities?

One of the biggest challenges women face is underestimating their own capabilities. Building confidence is essential—believe in yourself, take risks, and understand that you don’t need to be perfect to succeed. Step up, take action, and learn along the way. Confidence and willingness to stretch yourself are key to making an impact.

Plan International’s goals in Nepal seem ambitious. What are the key obstacles you face?

The challenges in Nepal are similar to those in other regions. Progress is often disrupted by disasters, which can set us back significantly. It’s disheartening at times, but we must persist. Developing adaptive leaders is essential—they can guide communities through crises. Funding is another challenge, as resources are often diverted during emergencies. Despite these setbacks, we remain committed to adapting and overcoming.

You recently visited Janakpur. Can you share your experience there?

Janakpur hosts a large, multi-year program focused on marginalized communities, aiming to ensure equality in education and access. Although the program is still in its early stages, we’ve already seen encouraging partnerships among ministers, local governments, and schools. Meeting the youth club at a local school was particularly inspiring. Comprising four girls and four boys, the club gives students a platform to provide feedback to teachers—something quite novel in a traditionally hierarchical setting. Watching their confidence grow and teachers being receptive was remarkable.

How was your experience meeting political leaders and officials there?

Language barriers sometimes hinder the flow of conversations, but the passion for change was evident at all levels. Everyone seemed aligned on the goal; the challenge lies in figuring out how to achieve it. One pressing issue was the shortage of teachers—5,600 students with only 120 teachers is far from ideal. Collaborative discussions about solutions were promising.

The Girls’ Leadership Index report has been released. How do you think such reports contribute?

Indexes and measurements help governments and organizations gauge progress against key metrics. They highlight areas of success and call attention to where improvement is needed. These are vital for bringing about constructive change. 

Nepal has been incredibly welcoming, and it’s inspiring to see the impactful work being done here. Ending early marriage is one of our key goals globally, and we’re working hard in Nepal to raise awareness and implement interventions to address this harmful practice.

Tim Tomlinson is a Professor of Writing at New York University’s Global Liberal Studies Program. He is a co-founder of New York Writers Workshop, and co-author of its popular text, The Portable MFA in Creative Writing. He is the author of the chapbook, Yolanda: An Oral History in Verse; the poetry collection, Requiem for the Tree Fort I Set on Fire; the collection of short fiction, This Is Not Happening to You; and, most recently, the hybrid collection of poetry and prose, Listening to Fish: Meditations from the Wet World. Tomlinson led New York Writers Workshop Kathmandu in May and June where 35 writers from five continents participated. Ken Subedi conversed with Tomlinson about the Kathmandu workshop, his experience in Nepal, his books and his works.

Was this your first time in Nepal? When did you learn about Nepal for the first time?

This is my first time in Nepal. Nepal has been in the background of my consciousness for decades. As a young kid, I knew that people were coming here. Hippies were coming here in the 60s and early 70s. You know well that Cat Stevens’ song “Katmandu” was also based in those times. These things made me wonder about Nepal. I also heard stories about the notorious serial killer, The Serpent.

You are the organizer of New York Writers Workshop Kathmandu and inaugurated Himalayan Literature Festival. Can you please share your experience of the workshop and festival?

The first day of the festival was densely packed. Many moving parts. And I was a bit frantic, putting out brush fires, but things settled a bit on the second day. We’ve been getting lots of positive feedback. I sat in on a couple of panels. The writers we brought here are brilliant and super talented. Hearing from them and knowing that audiences are absorbing all these experiences has been enormously gratifying.

How did you start New York Writers Workshop?

It has been around 24 years now. We started in 2000. We actually taught our first workshop in New York City. A bunch of my friends and colleagues got together and formed our organization. We’d been working for other organizations that did not really respect the life of the writer. We believed we could do better in different ways. We understand the nature of being a writer.

Do you agree that corporations don’t value poetic license?

Absolutely. They value the bottom line. We’re expendable items. I mean any organization you work for, as soon as they’re short of money, fire the writers. No more copies, no more paper clips, you know whatever. Universities exploit the instructors as much as they can. New York City is a smorgasbord of different ethnicities and nationalities. We make no distinction about who comes to our workshops. We offer things to everybody in the population of New York City, which is almost like saying everybody in the whole world. Eventually, we expanded. We went global.

Maybe you started with different places in the USA.  Then you started to move towards other countries.

I married a Filipina and I started travelling quite a bit in Asia. So, I first worked in The Philippines. And the name New York Writers Workshop, it’s kind of a passport to the world. “New York City” resonates all over the world. Within about three years I had been going back and forth between The Philippines, in the universities, in the writing organizations. And then we started the larger conferences, of which this is the largest, the most ambitious one.

You edited a book called The Portable MFA in Creative Writing in collaboration with New York Writers Workshop. You also contributed the “Introduction” and the chapter on fiction. Can you please share some insights about, like how you came up with that book? And why do you think the need to write such a book when there are so many MFAs going on like this? 

That was in 2006. We’d been a teaching organization for six years. And we’d all encountered what we call “recovering MFA’s,” very promising writers who, for one reason or another, couldn’t move from  one sentence to the next. Their MFA programs jammed them up. In my introduction, I say – I want to teach that kind of workshop that I never had. So my approach, our approach, is “how-to,” not “don’t do.” 

It can be an MFA supporting book. So, basically you wrote for MFA graduates when they can’t work on the practical side, and they have only theoretical knowledge.  So, who were your target audience when you started to write? 

Yeah, the target audience was anyone who wanted to write. I had been teaching workshops for probably ten years. So many of my students were saying—when will you get particular exercises in the book? So I brought together some of our instructors where six of us contributed. In my section I included many of the exercises I did in my class.

Do you think that Nepal is worth writing about? 

Absolutely. We’re experiencing dense concentration of a new culture. We’re planting the experience like a seed that, we expect, will grow when we get back to home.

Can you share about your latest book Listening to Fish?

It grew out of my decade’s long experience as a scuba diver. I began scuba diving in the 1970s when the reefs appeared inexhaustible. The places where I dove first, with their dazzling arrays of biodiversity, are now at a tipping point, or past the tipping point. It’s a tragedy, a highly dangerous tragedy.

Maybe it is due to the refineries?

Oh, yes.  There is always some level of natural stress, environmental stress. But the human hand has made natural stress unnaturally stressful to the point that it’s catastrophic. Can the health of the reefs ever be restored? This is an existential question.     

So, your title: Listening to Fish. Is it listening to the grievances or the hardships, sufferings of the fish?

Precisely. If we start to listen to what they can tell us, they will tell us their stresses. They speak in a universal language. Their eyes implore. They seem to say, we’ve welcomed you here, now help us.

And dolphins are also beaching, right?

Coral is bleaching, dolphins are beaching, the sea is going mad.

So you have organized such workshops in many parts of the world. How does it help the literary community? How does it contribute to the craft of a writer? 

There’s an enormous amount of cross-pollination and collaboration. The conferences we did in Greece and Italy led to translations, publications, and community. What we appreciate here is the ubiquity of spirituality. It’s woven into the fabric of everyday life. It’s tangible. I expect some of that sense will filter into the work we all do back home.

And even we will also be indoctrinated with some of the familiar Western tradition and American values also. 

I hesitate to use the word “indoctrinated.” I prefer being exposed to, because we’re here as much to listen and learn and share, as well as teach. Last night, Ravi Shankar read his poem Kathmandu.  He concludes by saying—there must be not power, but compassion. I think travel can induce that. It reveals how much you don’t know.

I know you like different genres at a time. You don’t fix yourself to one category. But what fascinates you the most? Which is more near to your heart?

I would like to write short stories that a reader remembers. Now and then, it gives me the biggest glow. Fiction is the most important, nearest to my heart.

Rajesh Kumar Agrawal, the president of the Confederation of Nepalese Industries (CNI), has been involved in Nepal’s manufacturing sector since 1992. As the executive director of RMC Group, he oversees a diverse portfolio of products spanning cement, steel, and food industries. With 30 years of experience in the business, Agrawal has developed a profound understanding of financial management, ensuring the company’s financial stability and consistent profitability over the years. Kamal Dev Bhattarai and Pratik Ghimire of ApEx spoke to Agrawal about the state of the country’s economy and more. Excerpts:

What situation is our economy currently in?

Our economy is still going through a difficult situation. The official data shows improvements in some areas such as foreign exchange reserves, banks are loaded with cash, interest rates are going down among others. However, on the other side, we see that our exports are not increasing, in fact, they are decreasing gradually over the past three years and the government’s revenue is not increasing. Although some data shows an increase in revenue, we still need to conduct analysis to ascertain the actual situation. According to the statistics of the Gross Domestic Product (GDP) of the last three quarters, there is not a visible improvement. Last year’s projected GDP was 3.87 which is mainly due to the contribution of the energy sector. Production and manufacturing sectors are still in the negative growth—they are not doing very well. Due to a low aggregate demand, the economy is not able to take off. 

However, I don’t see low exports as the most alarming economic concern for us because production needs to increase first in order to see a growth in exports. Production itself is low in our economy right now. The sector’s contribution in our GDP is decreasing. In such a situation, how can our exports increase? In some sectors, exports are increasing such as IT. But for production and manufacture based products, exports will only increase following an increase in production. Therefore, the CNI sees a push in production as the main goal rather than an increase in exports. Unless we are self-sufficient in the production of any good, there is no possibility of exports. For example, we used to import cement. After the government’s support, the production of cement within the country increased and we became self-sufficient. Since the last two years, we have been exporting cement as well. Therefore, low exports are not the major issue of concern, the main problems currently at hand are decreased productions and increased imports.

Post covid, countries in Asia and worldwide seem to be improving their aggregate demands. Why is it that Nepal has not seen any improvement whatsoever?

The main reason is policy-induced slowness in the economy. The pandemic was an unimaginable period that no one had anticipated. However, after that, the policies we adopted have caused the situation we are currently in. There is no other reason or any external shock. For example, the policy to reduce demand and increase interest rate was introduced in order to influence currency rate. The rate, however, was influenced entirely by our exports and was out of our control. Our decision to introduce such a strong policy resulted in an increased amount of imports, which put pressure on our foreign currency rates. Then, we moved towards a policy to ban imports. This caused panic in the economy. We had to take a loan from an international organization, which had its own set of terms and conditions. To fulfill those terms, we introduced some new policies. 

Loans in the private sector increased. We introduced policies to reduce these loans. Then, there was a boost in the real estate industry. We focused on controlling the prices. Then the share market boomed, and our focus shifted on controlling that increase. All these controlling policies continue to have effects on our current economy and we still bear consequences. The CNI believes that we are experiencing a policy-induced slowness. And the policies that were adopted due to whatever reasons at the time should have been reversed after a year. Some policies were reversed to some level in the last year but it happened too late. Therefore, its consequences still occur and will remain for quite some time.

The policies that we adopted for our imports out of panic are the biggest blunder that happened in the last five years, is that true?

That is not the only reason. It has not caused a major effect in the internal production sector because the policies were to ban import of luxurious goods. The main effects the policy had was on a sentimental level among the citizens. It generated fear regarding the future of the economy, affected government’s revenue, and gave rise to illegal business. The policy we took to lower demand and increase interest rates and to reduce loans in the private sector made major impacts. All the policies we adopted acted as a brake to our economy. If we slowed down gradually at a slower rate, the economy would absorb better. We could have increased interest rates by 0.25 or 0.5 percent as internationally advised, but we adopted a drastic two percent increase even when the situation did not favor. Policies were changed so fast that the economy was unable to keep up. All these controlling policies had an effect on cooperatives as well. We were unable to revive the cooperative sector—which is so closely connected to the general public and small businesses—even after reversing these policies. 

The restrictions implemented from Nepal Rastra Bank (NRB) at that time on the real estate business should be relaxed. The cap on investments in the share market could be removed to send a positive message. NRB has issued a working capital guideline for the loans in the private sector which has caused major effects in the production sector. NRB’s direct lending is 40 percent which is being misused in agriculture and energy industries. Asset classification guidelines have also been issued which is not efficient for group businesses. 

Apart from that, another need is to increase demand. However, the government does not have sufficient funds for that. Contractors are not being paid. A suggestion is to issue 10-year bonds for these contractors equal to the amount to be paid and 90 percent of the bond can be withdrawn from the bank. The government should immediately form a committee to limit projects and focus the budget on projects of greater importance rather than coming up with plans with insufficient budgets. It will take a great deal of time to improve the economy if we don’t take a focused approach for things.

To what extent does our political situation affect the economy?

The political environment definitely affects the economy. Our major problem is the frequent government change. The government is changing every six months. Many tactical decisions require the government’s initiation to move forward. With frequent government change, policies cannot be implemented in such short time periods. How can ministers make decisions when they are not even sure how long they will be in the position for? 

Political stability is of extreme importance because policies drive everything in an economy. There are still some old laws that need to be rectified. With the rapid change occurring worldwide, laws have to be updated accordingly. For this, a stable government and a stable bureaucracy is of extreme importance. There are three years left till the next election. A lot can be done in these three years. Everyone has now understood that for the economy to be stable, current problems need to be dealt with differently. Without political stability, we cannot escape these issues.

There has been growing concern about corruption and criminal activities within government and law enforcement sectors. This has caused an increasing sense of insecurity among businesspeople and has contributed to capital flight. How do you view this?

There are a lot of reasons for this. Firstly, if someone has committed any crime or misdemeanor, it has to be investigated, even if it is from two years ago or ten years ago. However, the old laws that I talked of before have been creating a big problem. If someone is proven guilty, they have to be punished. But right now, even people that have not been proven guilty are being put in jail. We are not asking to release the guilty. But a respected businessperson is not going to run away and there is no reason to put them in jail to be investigated. This is what we at the CNI feel. For this, we have appealed for the provision of an anticipatory bail. 

Some bankers were also convicted some time ago for signatures while issuing loans. While making so many decisions at once, some might go wrong. We have to analyze whether misdemeanors are done intentionally or not. Maybe some government officials could have made mistakes? Investigations are important. But putting someone in jail first, then moving towards investigations is not the way to go. If you see a possibility of the person running away, then sure, it is right to capture them. But if someone is willing to show up when called upon, it is not right to put them in jail before proven guilty.

The CNI suggests that financial penalties should be issued for financial crimes—jails are not the only solution. For example, if there is a tax evasion of 100m and if the person agrees to negotiate and pay the amount, then it’s done. Using the country’s resources to investigate further for like ten years into the case is useless if the person is willing to accept, negotiate and pay.

The kind of investments and support that we are looking for from the international community seems to be falling. FDI seems to be declining. What seems to be the problem?

Ultimately, when the economy is flourishing, there are opportunities, that is when investments come. Currently, our domestic investors themselves are not willing to invest. How can we expect foreign investment? Currently businesses are only able to operate at 30-40 percent capacity. How can new investments be driven under such circumstances? 

Visa might be causing some trouble at the moment for foreign investors because it is only issued for a year and there are some complications for visa issuance to investors’ families. Apart from that, there is no major issue in terms of our laws in attracting FDI. It is simply that the economy needs improvement and the investors need  to see opportunities. Such as in hydropower, opportunities can be seen, like exporting 10,000 MW. Tourism is also seeing some small investments but no major ones, perhaps because there are two international airports but they are not able to operate. Policies also need to be right.

According to your personal forecast, what is the future outlook for our economy?

We see the future as bright. Because we are in so many problems, there are as many possibilities. Chaos creates opportunities. Therefore, there are a lot of opportunities here. As I said before, political stability, bureaucratic stability, and policies need improvement. After that, there should be no problems. There are so many opportunities in infrastructures, and hydropower. There is so much untapped potential in the tourism sector. We have a big market with our neighboring countries which creates huge possibilities for production and trade. Education sector also has a lot of opportunities. If we can establish good universities and modernize our education system, we can develop the sector. Health tourism also has a lot of potential because healthcare is affordable here. In agriculture as well, there are opportunities. We need to go into commercial farming. If the policies can be fixed, there is a lot of scope in many sectors in Nepal. 

Upendra Prasad Poudyal is the chairperson of Nabil Bank with over three decades of experience. He previously worked at Standard Chartered Bank Limited (1986–2000) and NMB Bank Limited (2000–2017). His expertise spans project finance, international banking, and leadership roles, including his tenure as President of the Nepal Bankers’ Association (2014–2016) and the Confederation of Banks and Financial Institutions Nepal (CBFIN). Poudyal is also the immediate past President of the Management Association of Nepal (MAN) and represents the Asia-Pacific chapter of the Global Alliance for Banking on Values. A staunch advocate for sustainability, he emphasizes the importance of resilience and values-driven banking.

In an interview with Kamal Dev Bhattarai and Pratik Ghimire of ApEx, Poudyal shared his insights on Nepal’s economy, challenges, and the need for sustainable banking.

As a senior banker, having worked in the banking sector for such a long time, how much do you think our country’s economy has improved overall, what are its challenges?

Nepal’s economy has faced recurring crises, from the Maoist movement to the 2015 earthquake and the Covid-19 pandemic. Each event caused economic contraction, paralyzing industries, and creating uncertainty in the banking sector. The 2015 earthquake, for instance, halted activities for a year, while the pandemic further eroded economic momentum. During this time, a pivotal regulatory change required banks to increase their capital from Rs 2bn to Rs 8bn. This bolstered their ability to finance larger projects but also intensified competition, pushing banks to adopt more business-oriented models. However, these changes were necessary for resilience and growth.

What are the current challenges faced by our economy?

Currently, our economy faces multifaceted challenges. Youth migration has depleted the workforce, business activities are shrinking, and default rates are climbing. Government capital expenditure, which should stimulate demand, remains underutilized, while liquidity and foreign exchange issues persist. Despite these setbacks, the remittance sector continues to stabilize the economy, offering a silver lining.

Confidence is critical for economic growth. How would you describe the current state of confidence in Nepal?

Confidence is alarmingly low across all sectors—from businesses to financial institutions. Reviving this confidence is crucial. The central bank could ease monetary policies to encourage investment and growth. Our GDP-to-credit ratio is high, highlighting our reliance on credit for economic activities. To address this, stakeholders—banks, businesses, and the government—must collaborate, understanding each other’s challenges and perspectives. Solutions should prioritize the economy’s long-term stability rather than short-term gains.

Is it time for banks and businesses to move beyond profit-oriented thinking?

Absolutely. We can’t see everything from one perspective. Banking and business models must adopt long-term, sustainable approaches. Banks grow with their customers, and the private sector—contributing 80 percent to the economy—grows with support from banks and the government. The country should also think that if the private sector flourishes, the government, too, flourishes. At the same time, the private sector should be aware of its dependency on the government and the banking system.

The interconnectedness of sectors is often overlooked. For instance, rising interest rates are a result of broader liquidity and cost factors but are often viewed as solely the bank's responsibility. People tend to view it as the bank’s doing solely. While banks’ assets have grown, profits have plateaued over the last five years. This demonstrates the need for a balanced, holistic approach where all stakeholders support each other for mutual benefit.

How do you see the changing perceptions towards the banking sector?

Traditionally, the banking sector is a business, and therefore profit-focused. But simultaneously, the banking sector can and should be defined in an alternate way, which I only realized eight years later. When I attended a banking conference, called the Global Alliance for Banking on Values Annual Meeting, there were different bankers with different mindsets. They always thought of a banking system aimed at delivering sustainable development with social, environmental, and economic considerations. These sets of banks work with a triple bottom-line approach to their banking model. Social and environmental impact should be considered in banking, they believed. Profit is a pillar, but there is a triple bottom line: people, planet, and profit. In this model, they are grounded in communities and focused on real economies, meaning they are based on the generation of goods and services and employment-generating ventures. The impact of banking should be positive, according to this philosophy. I want to connect this to the alternative definition of the banking sector. When resources are deployed, employment is generated, and so are goods and services. Another philosophy within the banking sector dictates that a bank should clearly understand a client’s business as well as the associated risks, and the customers’ well-being.

A bank is an institution based on trust. A bank should be resilient to outside disruptions. With that being said, banks should be able to absorb outside shocks, for example, during the covid pandemic. Risks are often compromised, and parameters could be altered in order to maintain the stability and resiliency of banks. Transparency is also a major concern in the banking sector. We need a high level of transparency in a way that is government-inclusive. No group should be able to exert undue influence on the bank’s decisions and governing system. All levels of the bank should cooperate to maintain transparency. After the global financial crisis of 2007-2008, the profit-driven concept of banking was proven wrong. Society and environment-driven banks drove the Global Alliance for Banking on Values in 2009. This value-based banking principle is entirely based on sustainability.

How aware are Nepali banks and policymakers about sustainable banking?

Awareness is growing. In 2016, I attended the Global Alliance for Banking on Values conference and was inspired to bring this philosophy to Nepal. By 2017, Nepal hosted the Alliance’s annual meeting, inaugurated by the Prime Minister. Since then, initiatives such as the Nepal Rastra Bank’s Environmental Risk Management System and green finance taxonomy have gained traction. Many banks now have sustainability managers, and academic institutions like Tribhuvan University are introducing Environmental Social Governance courses.

How will value-based banking contribute to sustainable development goals (SDGs)?

The banking sector directly impacts the seven goals of the SDGs. To safeguard the targets of the SDGs, environmentally conscious investments are essential, and value-based banking is already doing this. IFC performance standards look at social issues as well. For example, if a hydropower project requires the destruction of a religious site, we need to ensure that this can be avoided as far as possible, with reasonable compensation for the land. Banks, during project analysis, now consider social factors such as these under the value-based model. Value-based banking has all several impacts. Biodiversity and nature conservation is one significant area of impact. For example, in villages, if a Rs 15,000-20,000 investment is given for the use of induction cookers, the use of wood for cooking reduces, making an impact on nature. Another area is women’s empowerment. Wage disparity is still a prevalent issue that we need to fight. Additionally, clean energy is another aspect. We aim to replace fossil fuels. Financial inclusion is another area of concern that value-based banking addresses. Finally, peace and justice are also promoted through value-based banking.