Business
Aitken Spence becomes Sri Lanka’s first diversified group to receive SBTi validation
Internationally benchmarked climate action
Aitken Spence PLC reached a defining moment in its sustainability journey, becoming the first diversified holdings company in Sri Lanka to have its emission reduction targets validated by SBTi. For a Group whose operations span 17 industry sectors and several geographical regions, this complexity is amplified. Each sector presents unique challenges, from energy-intensive operations to service-oriented businesses with wide networks and value chains. Bringing these diverse units together under a unified climate strategy calls on a comprehensive understanding of operational processes, a robust governance framework, a mature system and consistent monitoring mechanisms to ensure measurable outcomes.
According to UNEP’s latest Emissions Gap Report, global temperatures are likely to exceed 1.5°C within the next decade and the window for meaningful action is narrowing. 2024 was the first calendar year in human history to exceed 1.5°C of warming above pre-industrial levels, the very threshold the Paris Agreement was agreed to prevent. Corporates have a critical role to play in addressing climate change, and global expectations for corporate climate action are justifiably rising.
The Science Based Targets initiative (SBTi) is a corporate climate action organisation designed to address this responsibility, enabling companies and financial institutions worldwide to play their part in combating the climate crisis. An independent global organisation that reviews whether corporate climate targets are in line with the level of action needed to tackle climate change, SBTi was initially founded as a collaboration between CDP, United Nations Global Compact, We Mean Business Coalition, World Resources Institute (WRI), and World Wide Fund for Nature (WWF).
SBTi validation strengthens the credibility of Aitken Spence’s climate commitments by anchoring its emissions reduction pathway to independently verified sciencebased thresholds. This enhances confidence among investors and other stakeholders by demonstrating that the Group’s decarbonisation trajectory is aligned with global climate science rather than internally defined benchmarks.
Commenting on this achievement, Chairman/Chairperson of Aitken Spence PLC, Ms. Stasshani Jayawardena said, “Receiving SBTi validation for our targets is a proud milestone for Aitken Spence and an important indicator of where we are headed as a Group. As global expectations around climate responsibility continue to evolve, we believe businesses must lead with clarity, accountability and ambition. This recognition reflects our willingness to take bold decisions, transform the way we operate, and align our growth ambitions with internationally accepted climate goals. Across our diverse businesses and markets, sustainability will continue to shape how we invest, innovate and create long-term value for all stakeholders.”
By achieving this validation, the Group attests that large, multi-sector organisations can pursue climate responsibility with coherence and measurable impact, even while managing the complexities inherent to diverse business operations.
This landmark achievement is further reinforced by Aitken Spence’s longstanding track record of pioneering sustainability-led innovation across industries. The Group is the first and only company in Sri Lanka to invest in a waste-to-energy power project through Western Power Company, pioneered the world’s first LEED Gold certified hotel with Heritance Kandalama, and established the first carbon neutral, green printing facility in the South Asian region through Aitken Spence Printing.
Looking ahead, the validated targets provide a clear framework for guiding future investments, initiatives and partnerships, while supporting more informed responses to climaterelated risks and emerging regulatory expectations. In doing so, SBTi validation reinforces sustainability as a core element of the Group’s longterm strategy and resilience.
Business
Sri Lanka’s first generative AI‑powered, trilingual insurance assistant
Sri Lanka Insurance Corporation General Limited (SLICGL) unveiled Beechat, the country’s first generative AI‑powered insurance assistant, heralding a milestone for Sri Lanka’s insurance industry and move towards digital services.
Beechat is designed to transform the customer experience. Available through the SLICGL website (https://www.slicgeneral.com/) and customer portal, the Assistant offers customers instant access to policy information, real-time claim status updates, and insurance-related help 24 hours a day, seven days a week.
For customers, Beechat makes insurance simpler and always available. Instead of waiting in queues, calling hotlines, or being limited to business hours, customers can check policies, track claims, and receive instant answers in Sinhala, Tamil, or English, empowering every customer, whatever their language, to manage their insurance with ease.
The inclusivity ensures every customer, regardless of language preference, can engage with insurance services seamlessly. The AI‑driven platform reduces complexity, eliminates delays, and builds trust. Ultimately, Beechat transforms insurance from a process often seen as slow and complicated into a smooth digital journey that fits modern lifestyles.
The launch of SLICGL Beechat is strategically important for the organization because it strengthens its position as a leader in innovation within Sri Lanka’s insurance industry. Introducing the country’s first generative AI‑powered, trilingual insurance assistant, SLICGL demonstrates a commitment to digital transformation and technology‑driven service excellence.
The initiative reaffirms the company as forward‑thinking and customer‑centric and differentiating from competitors who still rely on traditional service models. It signals to industry stakeholders that SLICGL is setting new standards for accessibility, efficiency, and convenience in insurance.
Pioneering AI‑driven customer engagement, the company sets a new benchmark. Beechat demonstrates how technology can elevate insurance from a traditional service into a dynamic, futuristic experience, strengthening SLICGL’s relationship with the people it services. (SLICGL)
Business
‘Lanka Tractors returns with a historic Colombo 11 showroom’
Lanka Tractors Limited officially reopened its original showroom in Colombo 11, marking the return of one of Sri Lanka’s most recognised agricultural machinery companies and the official launch of the ACE Tractor brand in the country.
Located at 343 Olcott Mawatha, Colombo 11, the showroom was ceremonially declared open by Chief Guest Dudley Sirisena, Chairman of the Araliya Group of Companies, in the presence of Upul Jayasuriya, Chairman of Lanka Tractors Limited, Thilina Abeysuriya, Managing Director, Nishantha Yapa, Head of Business, and Rajiv Gunawardena, CEO of Asia Asset Finance PLC.
Originally established in 1971 as the State Trading (Tractor) Corporation, Lanka Tractors was restructured in 1991 and became one of Sri Lanka’s largest importers and distributors of agricultural machinery. Over the decades, the company represented internationally renowned brands including Massey Ferguson, Kubota and TAFE, earning the trust of generations of Sri Lankan farmers through quality products, technical expertise and dependable after-sales support. The reopening of its original Colombo 11 showroom, first established in 1982, marks the revival of an institution that has played a pivotal role in the mechanisation of Sri Lankan agriculture for more than five decades.
The company’s revival commenced in late 2025 through an exclusive partnership with ACE Tractors, the agricultural division of Action Construction Equipment (ACE) Limited, one of India’s leading engineering and manufacturing companies. ACE manufactures tractors, agricultural machinery, construction equipment and industrial equipment, with annual production capacity exceeding 9,000 tractors, exports to more than 37 countries, and a dealer and service network spanning over 100 locations worldwide.
Prior to the commercial launch, Lanka Tractors adopted an extensive validation programme to ensure the products were ideally suited to Sri Lankan farming conditions. Three introductory models—the ACE VEER 3000 (26 HP 4WD), ACE DI 350 NG (40 HP 2WD) and ACE DI 450 NG (45 HP 4WD)—underwent rigorous field testing across multiple agricultural regions under the supervision of ACE technical specialists. Following several product refinements based on local operating conditions, the tractors were introduced to the market in April 2026.
Business
Akurugraphy exhibition opens at Geoffrey Bawa Space in Colombo
The desire to communicate and be understood is at the heart of what it is to be human. In contemporary life, digital infrastructure underpins how we work, live, and share information, but the letterforms that carry our languages are rarely neutral.
Arkurugraphy, a new exhibition at the Geoffrey Bawa Space, explores the history, culture, and future of letterforms across Sri Lanka’s three official languages. Presenting the decade-long practice of Colombo-based type foundry Mooniak, it examines how decisions about the digitisation of Sinhala, Tamil, and Latin scripts impact legibility and carry deep consequences for who is seen, who is heard, and whose language endures.
Writing systems carry human thought and knowledge across time and space. Letterforms can become a form of cultural artefact, unique graphic symbols representing identity and belonging. Today, these inherited letterforms often take shape as digital fonts, their design demanding fluency across history, aesthetics, linguistics, and technical standards. Akurugraphy asks audiences to look at letterforms beyond the act of reading: to appreciate their form, trace their past, and consider the decisions that impact their future.
Akurugraphy brings together typographic specimens, archival material, and software development spanning Mooniak’s full body of practice. It is a celebration of letterforms as art and an examination of the technical and political stakes of designing scripts for the digital age. As part of the exhibition, the Geoffrey Bawa Space will host a programme of monthly talks, curatorial tours, workshops, and children’s programmes.
Akurugraphy is open Wednesday through Sunday, 10:30 a.m. – 5:30 p.m., and will be on view until 8 November 2026. The exhibition is designed to be accessible and welcoming to all visitors. The Geoffrey Bawa Space offers step-free access and wheelchair accessible facilities. Tactile elements are available throughout the exhibition. More information is available at geoffreybawa.com/akurugraphy .
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