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Govt to start flora spatial mapping, eyes carbon credit trading

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Ruwan Wijewardene

By SHIHAR ANEEZ

ECONOMYNEXT – Sri Lanka is in the process of starting spatial mapping on all tree species in the island nation before going for carbon credit trading in the global market, Senior Presidential Advisor on Climate Change Ruwan Wijewardene said.

Sri Lanka has been in the process of carbon credit for more than a decade. Carbon credit is a way of compensating for emissions of carbon dioxide or other greenhouse gases.

If Sri Lanka reduces its Carbon Dioxide emissions through efforts like reforestation and large number of renewable energy projects, they will help the country to earn money through carbon trading from some other higher Carbon Dioxide emitting nations as compensation.

“We are doing spatial data plan. We have just put the plan to cabinet. We are still waiting for approval,” Wijewardene, the Senior Advisor to President Ranil Wickremesinghe on Climate Change, told EconomyNext in an interview on Friday (12).

“That is where we will map out whole of Sri Lanka’s every tree species, and what the carbon output of each tree species.”

“Then we have the knowledge of what our potential is in Sri Lanka. Then it will be much helpful when we go out to tap market for (Carbon) trading. The process will take two years.”

He said the aim is to earn money through conservation and projects protecting the environment.

The island nation is also in the process of drafting regulations to ensure the monetary benefits from a proposed 6,400 “Green Entrepreneurs” projects along Sri Lanka’s coastline, focusing on mangrove restoration and development.

“So, we can get youth in these areas while looking after mangroves they can see how they can generate some income through tourism and carbon credit,” Wijewardene said.

“Right now we are drawing up a framework – some kind of regulations how the carbon trading in the carbon market can trickle down to communities.”

He said Sri Lanka will have to go for certification from international agencies before it goes for carbon trading.

“The regulations we are trying is how the carbon trading money can be used by the communities and used in projects to conserve the environment.”

The government move to speed up carbon credit trading comes as it has planned to become carbon neutral or zero carbon emission by 2040 with a raft of large renewable energy projects.

The island nation has been adversely hit by the impacts of climate change leading to frequent floods and droughts across the country.

President Wickremesinghe at COP-28  in Dubai last year launched his ambitious plans on establishing an International Climate Change University, Tropical Belt Initiative (TBI) and Climate Justice Forum (CJF) in a move to gather all countries vulnerable to climate change under a common theme to bargain strongly with advanced countries to invest in their nations on green initiatives including wind and solar power projects.



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Formulation of a Draft Economic Development Bill to expedite the process of Digital Transformation and Digital Economic Development

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It is essential to establish an institutional framework with legal powers to ensure the effective implementation of national digital policy and guidelines.

Quality human capital should be attracted to this institutional framework for the compilation of policies, implementation of policies, regulation, and empowerment of operations. The continuous participation of the private sector should also be considered in establishing a strong institutional framework.

It has been further identified that attention should also be
drawn to new fields of digital innovation, including support for artificial intelligence and related activities.

Taking into consideration the aforementioned matters, a concept paper has been formulated to prepare a Draft Economic Development Bill for the establishment of a new institutional framework.

Accordingly, the Cabinet of Ministers has approved the resolution furnished by the  President in his capacity as the Minister of Digital Economy to instruct legal draftsman to formulate a Draft Economic Development Bill based on the aforementioned concept paper.

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Cabinet approval for Sri Lanka Community and Health Survey – 2026/2027

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The Sri Lanka Community and Health Survey is the main data source for obtaining necessary information for reviewing progress toward achieving the national health development goals, as well as the expected sustainable development goals by 2030.

The last survey was conducted in the year 2016, and the Sri Lanka Community and Health Survey should be conducted to obtain updated data to enable the collection of related data and indicators concerning the health and well-being targets of the Global Sustainable Development Objectives.

Accordingly, the Cabinet of Ministers has approved the resolution furnished by the President in his capacity as the Minister of Finance, Planning, and Economic Development to take necessary steps to conduct the aforementioned survey.

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A National Water Tariff Policy for all Water Supply and Sanitation Services

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The access to secure, reliable and affordable drinking water and adequate sanitation facilities is essential to maintain public health, promote social well-being and foster economic development.

The Sri Lankan Government recognizes water supply and sanitation services as both an economic good and a basic human need. Therefore, when pricing for water and sanitation, a balance should be maintained between the financial sustainability of the service providers and the requirement to ensure fair and affordable access for all strata in the society.

Accordingly, the Sri Lankan government has identified the necessity of a national water supply that is sensitive to gender equality and social integration applicable to all water supply and sanitation service providers. At present, there is no formal national framework for setting, reviewing, approving, and implementing tariffs for water supply systems operated by various water supply providers as well as for setting, reviewing, approving, and implementing tariffs for sanitation systems.

Therefore, the Ministry of Housing, Construction, and Water Supply has formulated a water tariff policy covering all water supply service providers under the Sri Lanka Water Supply and Sanitation Sector Reform Program, which is a policy-based loan program implemented under Asian Development Bank funds.

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