Business
SEC, CSE, and CFA Society Sri Lanka to spread awareness on Green Bonds
Green bonds can help to achieve the goal of a low-carbon world, and cumulative issuances have already reached USD 1 trillion. As the market for green bonds continues to grow, investors need to understand how these instruments differ from traditional bonds.Keeping the above in mind, the Securities and Exchange Commission (SEC), the Colombo Stock Exchange (CSE), and the CFA Society Sri Lanka collaborate to host a Webinar on “Demystifying Green Bonds” to be held on Wednesday, 30th November 2022 from 3.30 pm to 5 pm in Sri Lankan time.
Chinthaka Mendis, Director General, SEC, “this webinar will help the participants to understand the concept of green bonds, green bonds framework in other markets, how one can distinguish between a listed green bond from that of a conventional bonds and case studies from different countries. The webinar will also address the proposed green bond framework and the way forward for the Sri Lankan market.
Rajeeva Bandaranaike, CEO of CSE noted that the topic is very timely as green bonds are an important development because they are a financial innovation designed to facilitate sustainable investing for institutional investors and this will help to progress in the Sri Lankan capital market with new financial instruments”
Aruna Perera, President of CFA Society Sri Lanka stated that the proliferation of Green Bonds will help in financing eco-friendly projects and technology, as well as attracting foreign investments due to the significant growth in the sustainable energy sector globally and this conversation is highly relevant.
Sandeep Bhattacharya, Advisor for Climate change at GIZ will make a presentation on the theme of “Demystifying Green Bonds”. He works at enabling the flow of finance for assets that promote the reduction of greenhouse gas emissions or the greater adaptation of climate-friendly policies. His notable assignments include co-designing and executing training workshops and other related events in collaboration with UNDP and CFA Society among others, publishing many relevant reports, on, designing a roadmap for green bonds to Indian Municipalities in an assignment with PWC and working to originate and also close transactions in India, Bangladesh, Nepal, and Sri Lanka. These efforts have also resulted in publishing opinion pieces and articles, in various reputed Indian and international business newspapers, websites, and magazines.
Hiran Mendis, Capital Market & Financial Consultant, and Ms. Nilupa Perera, Senior Vice President- Trading Operations, Market Surveillance & Corporate Affairs, CSE are the panelists whilst Travis Gomez, CFA, Director / Secretary, CFA Society Sri Lanka will moderate the sessionJoin the discussion to understand the key concepts in green bonds and how Sri Lanka’s capital market is being equipped to produce new financing products.
Business
From Mt. Fuji to Sri Pada: Lessons from a father-son climb
by SK Samaranayake
For Daham Gunasena, reaching the summit of Mt. Fuji with his 12-year-old son was not the end of the journey but the beginning of a different kind of lesson.
Gunasena, Director – Commercial at SPAR Sri Lanka and a senior business leader, academic and Chartered Accountant, spent nearly 12 hours on August 19 climbing Japan’s highest mountain with his son, Methum. After eight hours of climbing, the pair reached the 3,776-metre summit before beginning a demanding four-hour descent to Fujinomiya 5th Station.
“The summit was only halfway,” Gunasena reflected, describing the experience as a lesson in preparation, perseverance and responsibility.
Their journey began two days earlier with a trial excursion to the 6th Station and the volcanic landscape around Mt. Hoei. The experience allowed Gunasena to assess the altitude, terrain, weather and equipment before deciding whether his son was ready for the summit attempt.
The climb itself reinforced the value of taking one step at a time. Rather than focusing on the distant summit, father and son concentrated on the next marker, the next few steps and short periods of rest.
Reaching the summit brought another lesson. After taking photographs and celebrating, they still had four hours of descent ahead of them over loose volcanic terrain.
“Reaching the top was an achievement. Returning safely was success,” Gunasena said.
The experience also prompted him to reflect on how Japan manages Mt. Fuji, including visitor education, digital information, sanitation, transport, safety and environmental protection.
Having climbed Sri Pada 12 times last year and five times so far this year, Gunasena sees opportunities to apply some of these principles in Sri Lanka without compromising the mountain’s unique pilgrimage traditions.
He suggested a comprehensive digital platform for Sri Pada providing information on weather, congestion, transport, sanitation, first aid and emergencies, while educating foreign visitors about its religious significance.
For Gunasena, however, the most enduring lesson was personal: a mountain can teach what lectures cannot—through preparation, perseverance, respect for nature and the shared experience of taking each step together.
Business
FLIR, Marlbo promote smarter industrial maintenance
Sri Lankan industries are being encouraged to adopt advanced condition monitoring technologies to detect equipment problems before they develop into costly failures, as global technology company FLIR and its local partner Marlbo Trading Company strengthen their collaboration.
The companies brought together industry professionals at a technical seminar held on August 20 at Taj Samudra, Colombo, focusing on the use of thermography and acoustic imaging to reduce unplanned downtime, improve energy efficiency and lower maintenance costs.
Organised by Marlbo under the theme “Condition Monitoring Using Thermography and Acoustic Imaging for Measurable ROI,” the seminar highlighted the growing importance of proactive and predictive maintenance in improving equipment reliability and operational efficiency.
FLIR Sales Director – Instrumentation, India, Bhaskar Lala, and APAC Condition Monitoring Specialist David Gambarte shared their expertise on the latest diagnostic technologies and their practical industrial applications.
Thermal imaging can identify abnormal heat patterns linked to electrical and mechanical faults, while acoustic imaging can detect problems that may go unnoticed during routine inspections.
The technology is particularly useful in identifying compressed-air leaks, which can cause significant energy losses and increase operating costs.
Shevon Liyanage, Engineer – Measuring Instruments at Marlbo, also shared insights into applying condition monitoring technologies in the Sri Lankan industrial environment.
Business
Lumbini Tea Valley wins intl award for Singharaja Wirytips
Lumbini Tea Valley Ceylon won an award for its Singharaja Wirytips at The Leafies: International Tea Awards held in London in 2024, marking another international recognition for the Sri Lankan tea producer.
The award comes as the company marks two decades of direct exports, with its premium and organic Ceylon teas now reaching 35 countries across six continents.
Established in 1984, Lumbini Tea Valley began its direct export drive after Chaminda Jayawardana joined the family business in 2000 alongside his father, Dayapala Jayawardana. The initiative materialised in 2006 with the company’s first direct shipment—a 15-kilogram consignment of Flowery Broken Orange Pekoe (FBOP) tea to the United States.
Since then, the company has expanded its direct-export operations, which now account for around 20% of its total manufacturing output. Following its transition to organic production, approximately half of its organic tea output is exported directly by the company.
Its key export markets include Japan, the United States, France, the Netherlands, Switzerland and Australia, with direct shipments now reaching 35 countries.
The company said its direct-export model would continue to expand amid growing international demand for traceable, single-origin Ceylon tea, with premium and organic grades at the centre of its export strategy.
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