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Applications for TAGS awards now open

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CA Sri Lanka Vice President Tishan Subasinghe and other officials announcing TAGS awards 2024 at a press conference

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) last week announced the commencement of the acceptance of applications for the prestigious TAGS Awards 2024, celebrating excellence in corporate reporting for the 59th year. A beacon of innovation and best practices in financial and non-financial reporting, the TAGS Awards will culminate in a grand ceremony on 12th December 2024 at the Shangri-La Hotel, Colombo.

The TAGS Awards, (which stand for Transparency, Accountability, Governance, and Sustainability), formerly known as the Annual Report Awards, held since 1964, continue their legacy in celebrating and recognizing organisations that excel in both financial and non-financial reporting. The competition is open to a wide range of entities, including multinationals, blue-chip companies, conglomerates, SMEs, NPOs, NGOs and other entities that produce annual reports.

“The Digital Edge – Enriching Corporate Reporting Excellence,” the theme for the 2024 TAGS Awards, underscores the transformative potential of AI and digital innovation in corporate reporting.

The official announcement was made at a press conference which was attended by CA Sri Lanka Vice President Tishan Subasinghe, Chairperson of the TAGS Awards Committee Chamila Cooray, and Alternate Chairperson of the TAGS Awards Committee Nishani Perera.

During the press conference, the Colombo Stock Exchange (CSE) officially joined as the Strategic Partner of the TAGS Awards 2024, in the presence of its Chief Executive Officer, Rajeeva Bandaranaike and Chairman, Dilshan Wirasekara.

The application period runs from 30th July 2024 to 31st August 2024. Eligible organisations include those producing annual reports for the financial year ending on 31st December 2023, or 31st March 2024. The competition will recognize companies across 29 industry sectors, plus a newly introduced category for non-listed companies with export revenue exceeding USD 50 million.

The top-performing annual reports will receive the prestigious OVERALL EXCELLENCE IN CORPORATE REPORTING awards – gold, silver, and bronze. Additionally, companies will be acknowledged in four special award categories: Corporate Governance Disclosure, Sustainability Reporting, Integrated Reporting, and Digital Transformation.

This year, an AI model supports the judging panel to increase the efficiency and the precision of the evaluation process. Please refer details by accessing www.ara.casrilanka.org.

The TAGS Compliance Badge, launched last year, will also be awarded to winners. It signifies an organization’s commitment to improving corporate reporting excellence. It can be viewed under company profiles www.cse.lk, promoting brand recognition and stakeholder engagement.

CA Sri Lanka Vice-President Tishan Subasinghe read out a statement by Heshana Kuruppu, President of CA Sri Lanka, that emphasized the strategic importance of corporate reporting, “In today’s data-driven world, corporate reporting transcends compliance, serving as a tool for communicating an organisation’s performance, impact, and vision. CA Sri Lanka remains committed to guiding businesses towards responsible practices that address broader societal and environmental impacts all while continuing to focus on digital innovation and transformation. From streamlining processes, to enhanced accuracy, and improved compliance, the financial world is embracing the AI revolution. It must be noted that corporates must be more mindful in establishing data ethics policies and IT governance frameworks to ensure responsible data management in finance reporting.



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Mercury fears over coal imports: CEJ urges urgent standards, health probe

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Environmentalists have raised fresh concerns over possible mercury contamination linked to coal used at the Norochcholai coal power plant, warning that Sri Lanka still lacks binding standards on mercury content in imported coal despite mounting health risks in nearby communities.

Chairperson of the Centre for Environmental Justice (CEJ), Environmental Scientist Hemantha Withanage, said recent coal consignments suspected to be of inferior quality could contain elevated mercury levels, posing a threat to both ecosystems and human health.

“International studies show that mercury content in coal can vary significantly. For example, research on South African coal indicates a range between 0.01 and 0.49 ppm. However, Sri Lanka has still not established a maximum permissible mercury level for imported coal,” Withanage told The Island.

He pointed out that the environmental protection licence issued for the Norochcholai Coal Power Plant allows mercury emissions of up to 0.01 mg/Nm³, but stressed that regulating emissions alone is insufficient without controlling mercury content at the source.

“With no standard for mercury in imported coal, there is a serious regulatory gap. This raises legitimate concerns that recent shipments may contain higher mercury concentrations,” he said.

Withanage cited a 2018 CEJ study conducted in the Kalpitiya peninsula, near Puttalam, which found alarming levels of mercury exposure among women of childbearing age. According to the study, 28 out of 36 women—approximately 77%—had mercury levels in hair samples exceeding the internationally accepted safety threshold of 1 ppm.

“The most disturbing finding was a recorded level of 15.584 ppm in one individual. These women were regular consumers of fish from the Puttalam lagoon, suggesting a bioaccumulation pathway,” he explained.

The CEJ believes that mercury released during coal combustion at Norochcholai may enter the marine environment, eventually accumulating in fish consumed by local communities.

“Mercury is a potent neurotoxin. When released into the environment, it can transform into methylmercury and enter the food chain, particularly affecting coastal and fishing communities,” Withanage warned.

He further alleged that despite formally notifying the Central Environmental Authority and the North Western Provincial Environmental Authority at the time, there had been insufficient follow-up action.

He added:”We raised these findings years ago with the relevant authorities, but there has been little to no meaningful response. This is unacceptable given the potential public health implications.”

Environmentalists are now calling for immediate steps, including the establishment of national standards for mercury content in imported coal, independent testing of all coal consignments, and a comprehensive health assessment of communities living in proximity to the power plant.

They also stress the need for continuous monitoring of mercury levels in air emissions, marine ecosystems, and food sources such as fish.

“With growing evidence of contamination, authorities must act decisively. Public health cannot be compromised,” Withanage added.

By Ifham Nizam

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Heat Index at Caution Level in the Western, Sabaragamuwa, Southern, Eastern, North-western, Northern and North-central provinces and in Monaragala district.

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Warm Weather Advisory
Issued by the Natural Hazards Early Warning Centre
Issued at 3.30 p.m. on 02 April 2026, valid for 03 April 2026.

The Heat index, the temperature felt on human body is likely to increase up to ‘Caution level’ at some places in the Western, Sabaragamuwa, Southern, Eastern, North-western, Northern and North-central provinces and in Monaragala district.

The Heat Index Forecast is calculated by using relative humidity and maximum temperature and this is the condition that is felt on your body. This is not the forecast of maximum temperature. It is generated by the Department of Meteorology for the next day period and prepared by using global numerical weather prediction model data.


Effect of the heat index on the human body is mentioned in the above table and it is prepared on the advice of the Ministry of Health and Indigenous Medical Services.

ACTION REQUIRED

Job sites: Stay hydrated and takes breaks in the shade as often as possible.

Indoors: Check up on the elderly and the sick.

Vehicles: Never leave children unattended.

Outdoors: Limit strenuous outdoor activities, find shade and stay hydrated.

Dress: Wear lightweight and white or light-colored clothing.

Note:
In addition, please refer to advisories issued by the Disaster Preparedness & Response Division, Ministry of Health in this regard as well. For further clarifications please contact 011-7446491.

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Govt. toys with the idea of moving public sector work online

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Government authorities are exploring the possibility of shifting public sector work online on April 16 and 17, to maintain essential services while managing available fuel and energy amid disruptions linked to West Asia conflagration.

The proposal was discussed at the third meeting of the Cabinet-appointed committee on ensuring continuity of public services, chaired by Prime Minister Dr Harini Amarasuriya via a virtual platform, according to the President’s Media Division.

Officials highlighted that the Ministry of Health and Mass Media had reduced diesel consumption by 42% by March 31, reflecting wider government efforts to reduce fuel use across institutions. Awareness programmes on energy management at schools are scheduled for April 7 and 9, while universities are already operating online where feasible.

The Ministry of Public Administration confirmed that examinations, including the Grama Niladhari entrance test, have continued as planned. Key ministries, including Transport, Digital Economy and Justice, are maintaining operations by deploying essential staff and utilising online systems.

The committee also discussed launching a public awareness campaign to curb water wastage and promote alternative water sources, to be jointly conducted by the National Water Supply

and Drainage Board and the ‘Clean Sri Lanka’ initiative.

Guidelines for conducting official duties online have been prepared by the Ministry of Digital Economy, with a circular expected by April 20 following consultations with the Ministry of Public Administration. Plans were also reviewed to monitor daily energy consumption, fuel reserves, and public service attendance through a digital dashboard.The committee is scheduled to reconvene on April 8.

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