Business
CORALL Conservation Trust Fund – a historic first for SL
Sri Lanka has moved to strengthen the financial backbone of its marine conservation efforts with the establishment of the country’s first CORALL Conservation Trust Fund, a landmark initiative that positions coral reef protection firmly within the framework of sustainable finance and long-term economic value creation.
The Trust Deed establishing the CORALL (Conservation of Reefs for All Lives and Livelihoods) Conservation Trust Fund was signed on December 31, 2025, by Environment Foundation (Guarantee) Limited (EFL) as Settlor together with the inaugural Board of Trustees. The Fund is designed to support the conservation of Pigeon Island National Park, Bar Reef Marine Sanctuary and Kayankerni Marine Sanctuary, along with their associated seascapes—areas that are central not only to marine biodiversity but also to fisheries, tourism and coastal protection.
From a business and policy perspective, the Trust Fund represents a decisive shift away from short-term, donor-driven conservation projects towards a structured and enduring financing mechanism. It is a key component of the Sri Lanka Coral Reef Initiative (SLCRI), a six-year national programme funded by the Global Fund for Coral Reefs and implemented by the International Union for Conservation of Nature (IUCN), but critically, the Trust itself is structured to continue well beyond the project’s lifespan, offering a permanent vehicle for mobilising state, private sector and international sustainability-linked funding.
Coral reefs within the three targeted seascapes have been increasingly degraded by destructive fishing methods such as blast fishing, overfishing, coastal pollution, unregulated tourism and unplanned coastal development. These pressures carry significant economic consequences, undermining fish stocks, tourism revenues and the natural coastal protection that reefs provide. Project partners note that a major driver of this degradation is the limited understanding among communities and institutions of the true economic value of coral reefs as natural capital that underpins livelihoods and resilience.
EFL, as an implementing partner to IUCN, played a central role in shaping the Trust’s institutional and financial architecture. It carried out a comprehensive legal, policy and institutional review, provided recommendations on the structure of Conservation Trust Funds, and drafted both the Trust Deed and an operational manual embedding governance, accountability and transparency safeguards. These features are seen as critical in building investor and donor confidence, particularly at a time when environmental, social and governance (ESG) considerations are increasingly influencing capital flows.
The Board of Trustees, selected by IUCN and the SLCRI National Steering Committee following a public call for applications, brings together expertise from investment banking, commercial banking and marine science. The Trustees—Palitha Gamage, Prof. (Ms.) Sevvandi Jayakody, Nalin Karunatileka, Dr. (Ms.) Nishanthi Perera, Chanaka Wickramasuriya and Nishad Wijetunga—will oversee grant funding for conservation and restoration proposals submitted by Special Management Area Coordinating Committees, while also ensuring robust monitoring and evaluation to safeguard long-term financial and ecological sustainability.
“This marks a significant step in sustainable financing to conserve coral reef ecosystems which are critical for marine biodiversity conservation, coastal protection, climate resilience, and the livelihoods of coastal communities, said Dr. Shamen Widanage, Country Representative of IUCN Sri Lanka, highlighting the wider economic and social returns expected from the initiative.
EFL chairperson Deshini Abeyewardena said the Trust Fund reflects a broader shift towards innovative financing models for environmental protection.
“EFL is honoured to have been selected by IUCN to implement this landmark initiative. The establishment of the CORALL Conservation Trust Fund reflects EFL’s long-standing commitment to advancing environmental justice through strong governance, legal safeguards and innovative financing mechanisms. As Sri Lanka faces increasing pressures on its marine ecosystems, this Trust provides a credible and transparent platform to secure sustained investment for coral reef conservation, she said.
By Ifham Nizam
By Sanath Nanayakkare
In a major boost to bilateral economic ties, the Chamber of Construction Industry of Sri Lanka (CCISL) and the Indo–Sri Lanka Chamber of Commerce & Industry (ISCCI) have signed a strategic Memorandum of Understanding (MoU) to deepen cooperation in real estate, infrastructure, and urban development.
The agreement establishes a formal framework for both institutions to drive collaborative initiatives, including business delegations, high-level conferences, workshops, B2B matchmaking sessions, and technical site visits. Designed to bridge businesses, government institutions, and project stakeholders across the Palk Strait, the partnership aims to unlock new avenues for cross-border joint ventures and technology transfers.
A focal point of this newly minted partnership is the facilitation of an upcoming trade delegation from the National Real Estate Development Council (NAREDCO) of India. Comprising major Indian players in the real estate and infrastructure sectors, the visiting delegation will engage in targeted business meetings, workshops, and inspection tours of prominent construction projects in Sri Lanka.
Under the terms of the MoU, CCISL will serve as the principal host coordinator in Sri Lanka. In close consultation with ISCCI, the apex construction body will curate itineraries, identify viable projects for engagement, and facilitate high-level dialogues with key government agencies, regulatory bodies, and industry leaders.
With both nations prioritizing sustainable urban growth, modern construction technologies, and infrastructure expansion, industry leaders view the partnership as a timely catalyst for economic rejuvenation. The collaboration is anticipated to accelerate market access, knowledge exchange, and foreign direct investment into Sri Lanka’s burgeoning property and development sectors.
To ensure the success of the upcoming NAREDCO delegation, CCISL has issued an urgent appeal to statutory authorities and relevant project owners to come forward with viable investment proposals. Stakeholders holding projects seeking foreign investment or technical partnerships are invited to submit comprehensive details to the Secretary General and CEO of CCISL via email at secyces@gmail.com.
Both chambers emphasize that translating this foundational agreement into tangible partnerships and robust capital flows will significantly strengthen bilateral connectivity between the construction and real estate sectors of India and Sri Lanka.
Hettich, the globally renowned German manufacturer of furniture fittings and architectural hardware known for its state-of-the-art manufacturing plants and magical interior solutions across the world celebrated a significant milestone in Sri Lanka, marking 10 years of presence in the country with its inaugural Partner Meet in Colombo.
The landmark event brought together Hettich’s key partners, stakeholders and industry leaders to celebrate a decade of growth, collaboration and shared success, while reaffirming the company’s long-term commitment to the Sri Lankan market.
Over the past decade, Hettich has strengthened its presence in Sri Lanka through its focus on German engineering, innovation, quality and functionality, contributing to the creation of contemporary and intelligently designed living and working spaces across the country.
The gala evening was graced by a distinguished delegation of senior leaders, including Dr. Andreas Hettich, Chairman, Hettich Group Advisory Board; S. K. Poddar, Chairman, Hettich India & Adventz Group; Mr. Akshay Poddar, Director, Hettich India; Andre Eckholt, Managing Director, Hettich India, SAARC, Middle East & Africa; Rahul Thakkar, Director – Sales, Hettich India & SAARC; and Dinusha Bhaskaran, Managing Director, Vallibel One PLC.
GS Evo Motors Limited, the authorized distributor of JMEV electric vehicles in Sri Lanka, has officially launched the JMEV EWIND, a next-generation compact electric SUV. The vehicle is designed to offer strong performance, intelligent technology, premium comfort, and high safety standards, marking another milestone in Sri Lanka’s growing electric mobility sector.
The EWIND features a sleek, aerodynamic exterior with penetrating LED daytime running lights, trapezoidal chain-inspired LED tail lamps, 19-inch alloy wheels, and a bold silhouette. Inside, it offers a spacious cabin with a panoramic moonroof and retractable curtain, an ultra-thin suspended instrument panel, a D-shaped multifunction steering wheel, multi-colour ambient lighting, premium finishes, and electrically adjustable front seats.
The SUV is available in single-motor front-wheel drive configurations, producing up to 108 kW and 210 Nm, with 0–100 km/h acceleration in 8.9 seconds.
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