News
Advancing sustainability in private sector through innovative financing solutions
The United Nations Development Programme (UNDP) in Sri Lanka, in collaboration with the Colombo Stock Exchange (CSE), Ceylon Chamber of Commerce (CCC), United Nations Global Compact Network Sri Lanka (CNSL), and the UN Economic and Social Commission for Asia and the Pacific (UNESCAP), recently hosted a two-day workshop as part of the Sustainable Finance Week for the Private Sector in Colombo. This event was designed to address the urgent need to integrate sustainability into the strategic framework of businesses in Sri Lanka.
Speaking at the event, Azusa Kubota, Resident Representative of UNDP in Sri Lanka, emphasized the transformative power of sustainable finance, noting “This workshop is about reimagining our economies where economic prosperity aligns seamlessly with sustainability. As the business environment evolves under the influence of climate change, resource limitations, and shifting societal values, integrating sustainability into business strategy is no longer optional—it is imperative.”
The event highlighted the importance of embedding sustainability into everyday operations, which will enable Sri Lankan companies to attract ethical consumers, enhance their brand image, stay compliant with evolving regulations, and access sustainable investment opportunities.
Punyamali Saparamadu, Senior Vice President – Commercial, Colombo Stock Exchange, emphasized the importance of capacity building in Environmental, Social, and Governance (ESG) frameworks commented, “As we explore the commercialization of green bonds, we have identified a significant interest among companies. Yet many lack clarity on the execution pathway. This highlights the urgent need for capacity building in the area. It is increasingly clear that companies with strong ESG frameworks not only bolster their reputation, but also effectively mitigate risks and lower their cost of capital in the long run.”
During the two-day workshop, experts from the organising committee led a series of interactive discussions designed to enhance the capacity of the private sector in understanding and implementing sustainable practices. Participants gained valuable insights into how aligning with the Sustainable Development Goals (SDGs) can unlock substantial business opportunities. They were also given the opportunity to clarify key terms and concepts related to sustainable financing and were given practical advice on integrating sustainability into business models and investment portfolios – which included case studies relevant to Sri Lankan businesses.
Underscoring the urgency of translating sustainability commitments into actionable strategies, Rathika de Silva, Executive Director, United Nations Global Compact Network Sri Lanka, highlighted, “Sustainability is not a buzzword—it’s a business imperative. We find ourselves at a critical juncture in our economy, where an infusion of funds is urgently needed. Currently, we have only achieved 15% of the SDGs, leaving us with 85% still to accomplish. With just 6 or 7 years remaining, the urgency to act has never been greater.”
Additionally, the event covered sustainable financing options such as green bonds, corporate bond issuance, and sustainability disclosures. Participants gained technical expertise in Environmental, Social, and Governance (ESG) frameworks as well as Impact Measurement and Management (IMM), learning how to incorporate these into their operations and reporting. The workshop also fostered networking and partnerships, allowing attendees to build connections, explore collaborations, and share knowledge on sustainability initiatives.
Sanjaya Ariywansa, Chief Economist speaking on behalf of the Ceylon Chamber of Commerce, noted “Sri Lanka has immense potential for sustainable growth and development. However, the path to realising this potential has many challenges. The private sector as the engine of economic growth holds the key to unlocking this potential. We must empower businesses to measure and manage their environmental and social impact while simultaneously accessing the growing pool of sustainable finance.”
The Sustainable Finance Week concluded with a call for continued collaboration and partnership among the private sector, UN agencies, the UN Global Compact and financial institutions. The event laid the groundwork for long-term engagement and knowledge sharing, encouraging businesses to take proactive steps towards sustainability. As Sri Lanka continues to develop its sustainable finance landscape, the outcomes of this week will play a crucial role in shaping the future of business in the country.
News
Joint programme between President’s Fund and Janashakthi Foundation to expand healthcare facilities for children
A special collaboration between the Presidents’s Fund and the Janashakthi Foundation, aimed at expanding healthcare facilities available to children under the age of 18, was launched on Wednesday (06) morning.
Implemented under the theme “Building a Healthier Today for a Winning Tomorrow”, this national initiative has been introduced through the joint efforts of the President’s Fund and the Janashakthi Foundation with the objective of reducing the financial barriers associated with children’s healthcare.
Under the President’s Fund, only a portion of the medical expenses incurred by a patient is generally covered. However, under this new collaboration, the Janashakthi Foundation will provide either an equivalent amount or the remaining balance of the treatment cost, whichever is lower.
Speaking on the occasion, Secretary to the President’s Fund and Senior Additional Secretary to the President, Roshan Gamage, stated that the present Government had taken steps to decentralise and digitalise the operations of the President’s Fund, thereby transforming it into a truly people-centric fund. He noted that this had reinforced public confidence in the Fund’s transparency, accountability and effectiveness and added that the collaboration with the Janashakthi Foundation had further strengthened this process.
Gamage further stated that close and meaningful coordination with the private sector would help enhance healthcare assistance provided to children and minimise the gap between the financial aid available and the actual cost of essential medical treatment.
Also addressing the gathering, Managing Director and Group Chief Executive Officer of the Janashakthi Group, Ramesh Schaffter, stated that difficulties in accessing medical treatment constitute a major obstacle preventing children from progressing towards a better future.
He further stated that the collaboration seeks to reduce that obstacle by extending support to children who are in urgent need of assistance, thereby laying the foundation for future generations to face tomorrow with greater confidence.
Under this programme, applicants seeking additional financial assistance are required, when applying to the President’s Fund, to duly complete and submit a consent form authorising the secure sharing of their information with the Janashakthi Foundation.
The identification of children requiring financial assistance, verification of their information and approval of funds will continue to be carried out by the President’s Fund.
Under this initiative, payments will generally be made to the guardians of children following the completion of treatment. However, in cases involving emergency treatment and treatment conducted overseas, payments will be made in advance.
Applicants submitting medical assistance applications to the President’s Fund from 15 May 2026 onwards will be eligible to apply for additional funding from the Janashakthi Foundation.
The event, held at the Hilton Colombo, was attended by J.M. Wijebandara, Director General of Legal Affairs at the Presidential Secretariat and Advisor to the President (Legal Affairs); C.T.A. Schaffter, Founder and Chairman Emeritus of the Janashakthi Group; Gamika De Silva, Group Chief Marketing Officer; Dilshan Wirasekara, Deputy Chief Executive Officer of the Janashakthi Group; as well as officials of the President’s Fund and the Janashakthi Foundation.
President’s Media Division (PMD)
News
Maldivian President concludes state visit to Sri Lanka
The President of the Republic of Maldives, Dr. Mohamed Muizzu, departed Sri Lanka on Wednesday morning (06) from the Bandaranaike International Airport, Katunayake, concluding a successful state visit to the country.
The visit by the Maldivian President and his delegation further strengthened the longstanding friendship and cooperation between the Maldives and Sri Lanka, while delivering a range of mutual benefits to the peoples of both nations.
This marked President Muizzu’s first state visit to Sri Lanka, during which several mutually beneficial areas of cooperation were agreed upon, underscoring the success of the visit.
Minister of Science and Technology, Krishantha Abeysena, Minister of Youth Affairs and Sports , Sunil Kumara Gamage, Member of Parliament Oshani Umanga, along with senior officials of the Ministry of Foreign Affairs, were present at the airport to bid farewell to the Maldivian President, the First Lady and the accompanying delegation.
(President’s Media Division)
News
Govt. draws flak over Rs. 500 mn excess Aswesuma payments
Close on the heels of the USD 2.5 mn theft from the Treasury, the Welfare Benefits Board has reported payment of nearly Rs 500 mn in excess to Aswesuma beneficiaries.
Public action group ‘Free Lawyers’ has raised the latest fiasco to come to light with Speaker Dr. Jagath Wickramaratne, while requesting that the Parliament, in line with its constitutional obligations, initiate an inquiry.
The letter, dated 06 May, signed by Maithree Gunaratne, PC, Attorney-at-Law Athula de Silva, and Rajith Keerthi Tennakoon, on behalf of ‘Free Lawyers’, has alleged that some of the Aswesuma beneficiaries have been paid twice while others received the additional/extra payment.
Responding to The Island queries, Tennakoon said that sheer negligence on the part of those responsible for public finance was shocking.
Alleging that the NPP government seemed to be operating outside basic rules and regulations pertaining to public finances, the former Governor asked the Speaker whether the wrongful Aswesuma payments had been made due to political appointments made at the expense of the experienced and competent staff. (SF)
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