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A National Partnership With Busineses For Biodiversity

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BIODIVERSITYin SRI LANKA

Safeguarding biodiversity is integral to sustainable development, competitiveness, economic growth and

employment. Many of the services that biodiversity and ecosystems provide are currently severely threatened. In an attempt to address this issue, Biodiversity Sri Lanka (BSL) was initiated in August 2012 by the Ceylon Chamber of Commerce, IUCN – the International Union for Conservation of Nature and Dilmah Conservation. It was created to respond to a demand for the establishment of a facility where businesses can come together to share experiences and best practices, learn from their peers, and voice their needs and concerns, aiming to strengthen the link between the business sector and the conservation community. BSL aims to assist the private sector to make a paradigm shift in efforts to place true and realistic values on Sri Lanka’s natural heritage.

Forging linkages

BSL is a member of the Global Partnership for Business and Biodiversity (GPBB) established under the Convention on Biological Diversity. For facilitating forums of dialogue with businesses, among Parties, Governments and other stakeholders, the Government of Sri Lanka has recognized BSL to play this role, as an independent, and autonomous platform. BSL has helped to establish National Business and Biodiversity Initiatives in Pakistan and Viet Nam. For increased collaboration between the state and the private sector, a Memorandum of Understanding (MoU) was signed with the Government of Sri Lanka (GoSL), through the Ministry of Environment, to use combined advantages for enhancing biodiversity conservation and sustainable development in the country.

Members and priority benefits

The membership of BSL is open to Sri Lanka-based businesses ranging from national to multinational companies, as well as small and medium enterprises. Currently, 40 leading corporates – all with high standards of environmental custodianship have backed BSL by becoming its invited Patron Members. BSL has also 38 General Members and its SME Members are growing. The United Nations Development Programme, the German Development Co-operation (GIZ) and the International Water Management Institute (IWMI) are Associate Members.

Membership benefits include access to a comprehensive technical database carrying information on expertise available in conservation related fields, priority seating in events hosted by the BSL Academy in which best practices are disseminated, use of an Online Project Bank setting out project ideas and recognition to resource efficiency pledges, A Biodiversity Projects Ranking Scheme awards Star Ranks and exclusive use of a dedicated logo aiding companies to improve the design and implementation of biodiversity conservation-related projects. An online repository www.lifecommitment.lk, maintains information on private sector contributions towards multiple national and international biodiversity commitments, assessing also hitherto unavailable financial investments made towards these initiatives over a determined period.

Awarding genuine efforts towards biodiversity conservation

In recognition of the positive work being carried out by companies, the ACCA and BSL collaborated in offering a joint award for excellence in environmental/biodiversity project implementation. Recognizing its relevance to current needs of the current job market, BSL provides technical assistance to the Department of Zoology and Environment Sciences, University of Colombo in the Honours Degree in Business & Environment, connecting the students and enabling industrial placements with eminent partners representing leading corporate entities in Sri Lanka.

Encouraging Public-private-community partnerships

Working with its members on public private community partnerships has been an integral part of BSL’s work. Joining hands with the Forest Department, IUCN Sri Lanka, and Patron Member – HSBC, BSL worked to conserve the Puwakpitiya Oya, to serve as a replicable model for mini watershed conservation and management. Through a science-driven, community-centric approach, the initiative resulted in substantial improvements in ecological functions, and improved living standards. Methodology, results, and best practices are documented for use in longer-term planning and learning. Together with contributions to SDGs and to national biodiversity priorities.

Tools for restoration

BSL’’s flagship project “LIFE” carried out in partnership with the Forest Department, IUCN Sri Lanka and eleven member companies, has developed a forest restoration plan for a degraded block within the Kanneliya Forest Reserve, restoring connectivity using scientific principles. Enhancement of habitat quality, species diversity and increased biodiversity and ecosystem services are monitored. As a first for Sri Lanka, working with experts both locally and internationally, a Biodiversity Credit Accrual System is being designed with the objective of assigning a unit value for enhanced biodiversity and ecosystem services, in par with international requirements and standards. The aim of the project is to support the development of policies and tools to utilize accrued credits sustainably.

Tackling the plastic menace

According to the Marine Environment Protection Authority of Sri Lanka, the country dumps 1 billion pounds of plastic and polythene a year and 4 million polythene bags alone each day. BSL together with the Ceylon Chamber of Commerce developed an Extended Producer Responsibility (EPR) Roadmap to minimize plastic loadings into the coastal and marine environment. Building the capacity of stakeholders, to accelerate plastic waste management, using a participatory approach was an integral part of this initiative. To maximize sustainable utilization of our beaches, BSL’s Life to our Beaches campaign takes measures to keep our beaches clean and free of hazards allowing for public movement and recreation.

Publications

For showcasing hidden best practices in environmental conservation, initiated by the plantations and tourism sectors, two BSL publications enhance awareness and provides learning opportunities to others in the industry, on the benefits and value of engaging in environmental conservation efforts and in the enhancement of biodiversity. These are available for sale in leading bookshops.

Biodiversity Sri Lanka aims to assist the private sector to make a paradigm shift in efforts to place true and realistic values on Sri Lanka’s natural heritage, setting and then reaching new ambitious targets to value and conserve the fundamental riches of the life support systems and the wildlife and people that depend upon them.

A Board of Directors consisting of a permanent representative each from the three Initiating Partners and two representatives each from the Patron and General Members, together directs the activities of BSL. The board consist of Dilhan C. Fernando, Board Chair, Representative- Initiating Partner, Trustee, Dilmah Conservation Mr. Chandrarathne Vithanage, Representative – Initiating Partner, Senior Assistant Secretary General Ceylon Chamber of Commerce. Dr. Ananda Mallawatantri, Representative – Initiating Partner, Country Representative, International Union for Conservation of Nature. Mr. Mahesh Nanayakkara, Representative – Patron Members, Chief Executive Officer, Citizens’ Development Business Finance PLC. Mr. Nandana Ekanayake, Representative Patron Members, Chairman, Siam. Mr. Shahid Mohomed Sangani, Representative, General Members – Director – Dynawash Ltd. Mr. Subramaniam Eassuwaren, Representative General Members – Deputy Chairman, Eswaran Brothers, Exports (Pvt.) Ltd. Mr. Anura Dissanayake, Expert in Business, Sustainability and the Environment / Secretary, Ministry of Irrigation and Former Secretary Ministry of Mahaweli Development and Environment. Mr. Prema Cooray, Chief Executive Officer, Chairman, Rainforest Ecolodge (Pvt.) Ltd.



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Wealth Trust Securities to raise Rs. 500.8 million via IPO

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Left to right: Timothy Speldewinde, Independent Non-Executive Director; Anarkali Moonesinghe, Non-Independent Non-Executive Director; Priyanthi Abeyesekere, Deputy CEO; Senaka Weerasooria, chairman (Non-Independent Non-Executive Director); Romesh Gomez, Managing Director/CEO (Non- Independent Executive Director); Tarusha Weerasooria, Non-Independent Non- Executive Director; Shanti Gnanapragasam, Independent Non-Executive Director; and Tivanka Perera, Vice President – Asia Securities Advisors (Pvt) Ltd.

The recent announcement of Wealth Trust Securities Ltd.’s Rs. 500.8 million Initial Public Offering -IPO- comes at a moment when Sri Lanka’s interest-rate environment is gradually easing, allowing well-capitalised primary dealers to expand their trading portfolios and secure long-term positions in government securities.

Company chairman Senaka Weerasooria told journalists in Colombo that the IPO is not merely a capital-raising exercise, but a reinforcement of the disciplined structure that has defined the company since its inception.

He noted that WTS enters the public market with what is already one of the most robust capital bases in the industry, and with “absolute confidence that investors are joining a journey that has consistently returned value.”

Weerasooria said the capital infusion will further solidify WTS’s ability to absorb volatility, particularly amid cyclical movements in Treasury yields.

Despite maintaining a conservative trading outlook, the company has managed to average a 31% ROE over the past twelve years — a figure management repeatedly highlighted as evidence of resilience across both tightening and loosening rate cycles.

Managing Director and CEO Romesh Gomez said that in recent months the direction of policy rates and market liquidity has begun shifting favourably, creating clear value-accretion opportunities for disciplined portfolio expansion. With additional capital, he noted, WTS has greater room to capture advantageous auction positions, broaden secondary market activity and align its investment scale to emerging market windows.

Gomez acknowledged that FY25 reflected compressed performance due to systemic realignment, with revenue at Rs. 4.6 billion and PAT at Rs. 1.2 billion. However, he pointed out that profit sustainability, even through a difficult cycle, speaks to strong operational controls. The A- rating with a Positive outlook continues to stand, reinforcing the company’s position as a stable counterparty in a specialised sector.

Asia Securities Advisors, managing the IPO, pointed out that the offer price of Rs. 7 presents meaningful upside when benchmarked against underlying valuation metrics. The move into the listed environment, they noted, enhances governance visibility — a point increasingly valued among institutional investors participating in the Government securities market.

By Ifham Nizam

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BoardPAC achieves Carbon Neutral Certification for the fourth consecutive year

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BoardPAC, the global leader in digital board meeting automation, has secured the Carbon Neutral Certification for 2024, marking the fourth consecutive year the company has achieved this milestone. The certification, awarded by the Sri Lanka Climate Fund (SLCF) under the Ministry of Environment in October 2025, underscores BoardPAC’s commitment to environmental sustainability and responsible corporate governance.

BoardPAC’s operations, spanning over 40 countries, were assessed against the ISO 14064 – 1:2018 standard, and the company’s organization-level Greenhouse Gas (GHG) emissions were successfully offset, reflecting its ongoing commitment to reducing its environmental impact.

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Uber marks 10 years in Sri Lanka: Moving People, Powering Livelihoods, Impacting Communities

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Uber today marked ten years of operations in Sri Lanka, a decade in which the platform has reshaped how people commute, and how thousands of Sri Lankans earn a livelihood. Over the past decade, ride-hailing has become one of the most transformative shifts in Sri Lanka’s urban mobility landscape, providing safe, reliable and affordable transport at scale.

Chathuranga Abeysinghe, Deputy Minister for Entrepreneurship, Ministry of Industries and Entrepreneurship Development, Government of Sri Lanka, graced the milestone event as the Chief Guest. U.S. Ambassador Julie Chung attended as the Guest of Honor, joined by Akanksha Singh, Head – South Asia Markets, Uber, and Kaushalya Gunaratne, Country Manager – Mobility, Uber Sri Lanka.

As per the 2024 Sri Lanka Economic Impact Report, compiled by global policy research firm – Public First, Uber and Uber Eats together generated over LKR 160 billion in economic activity in Sri Lanka within a single year. Since its entry in Sri Lanka in 2015, Uber rides have covered over 1.15 billion kilometers – equivalent to nearly 3000 trips from Earth to the moon! Over 320,000 Sri Lankans have earned through the platform as drivers.

Uber has also supported the tourism ecosystem, enabling more than 700,000 airport trips, connecting visitors seamlessly to their destinations. Over the last year, we’ve further intensified our service in the Western and Central provinces and expanded our offerings in the Southern and Northern provinces – bringing its services closer to more communities across the country. Uber has emerged as one of the most preferred ride-hailing platforms across the island, offering affordable, reliable, and safer rides at different price points.

Deputy Minister for Entrepreneurship, Ministry of Industries and Entrepreneurship Development, Government of Sri Lanka, Chathuranga Abeysinghe, said, “Over the past decade, Uber has become part of the fabric of daily life in Sri Lanka – not only by helping people get where they need to go, but by enabling thousands to earn an income with dignity and flexibility.

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