Business
CSE enables issue of Green Bonds by Sri Lankan companies
The Colombo Stock Exchange (CSE) is pleased to announce the introduction of listing and trading of Green Bonds for the first time in the Sri Lankan stock market, with effect from 25th April 2023.Under the Green Bonds concept, proceeds are invested exclusively in green projects that generate climate or other environmental benefits, for example in renewable energy, energy efficiency, sustainable waste management, sustainable land use (forestry and agriculture), biodiversity, clean transportation, and clean water.
The objective of enabling regulations for the issue of green bonds in the Sri Lankan stock market is to facilitate Sri Lankan corporates to raise capital that will be used for green projects and to foster greater transparency and accountability in the use of proceeds from the Green Bond, and to ensure reporting of the impact of the green projects for which the proceeds of the bond was used.
The use of proceeds from the Green Bond should be aligned with the Green Bond Principles, which are accepted by the CSE. The accepted Green Bond Principles of the CSE are the Green Bond Principles by the International Capital Markets Association (ICMA), the European Green Bond Standards (EUGBS), and the Climate Bonds Initiative Standards (CBI Standards).
Corporate Debentures and Green Bonds
The Green Bonds will have the same features of a Corporate Debenture and will be listed on the Debt Market segment of the CSE.The main difference between a Corporate Debenture and a Green Bond is the usage of the proceeds. In a Green Bond, the proceeds have to be exclusively used for financing or re-financing in part or in full, new or existing eligible green projects which are aligned with at least one international Green Bond standard set out above.
The Green Bonds will be traded on the Automated Trading System (ATS), similar to Corporate Debentures. The trading parameters currently applicable to Corporate Debentures will also apply to Green Bonds as well.The potential issuers of Green Bonds are any public company incorporated under the Companies Act and any statutory body established/incorporated under a statute.
Benefits of issuing and investing in Green Bonds
Green Bonds could be identified as a new investment asset class for potential issuers and investors. By issuing Green Bonds, an issuer could access a broader pool of capital, including access to a foreign investor base who has an interest in investing in green projects. It also can play a positive role, in raising awareness and building expertise among investors on issues relating to the environment, thus, fostering greater transparency in the use of proceeds from the Bond.
Green Bonds can also facilitate the establishment of public-private partnerships that might accelerate the pace of green investment and lead to the adoption of new technologies and also contribute to a sustainable economy.
Commenting on this new product, CSE CEO Rajeeva Bandaranaike said, “As of January 2023, Green Bonds have globally raised $2.5 trillion, to support green and sustainable projects. Sri Lanka can tap into these funds and capitalize on by attracting foreign investments into Green Bonds. This will contribute positively towards the Sri Lankan economy whilst issuers get an opportunity to attract a new pool of investor base; especially foreign funds which are exclusively aimed at green projects.”
“We are proud to be at the forefront of promoting sustainable investment mandates in the market, integrating environmental, social and good governance (ESG) criteria into the business or investment decisions, for the lasting benefit of both the capital market and the country at large.”
“Based on the demand for bonds like Green Bonds, the CSE proposes to introduce Blue Bonds and Social and Sustainability Bonds in the future”, added Bandaranaike.
Business
Mattala Wildlife Unit to boost revenue, tourism and investor confidence
The launch of a dedicated wildlife unit at Mattala Rajapaksa International Airport is expected to deliver significant economic benefits by improving aviation safety, strengthening eco-tourism and enhancing Sri Lanka’s investment appeal, Wildlife Conservation Department Director General Ranjan Marasinghe said.
Speaking at the signing of a Memorandum of Understanding between the Department of Wildlife Conservation and Airport and Aviation Services (Sri Lanka) Limited, Marasinghe said the initiative links conservation directly with national development and revenue generation.
“This is more than an administrative step—it is a forward-looking initiative that aligns conservation, aviation safety and national development in a single strategic effort,” he said.
He noted that wildlife management at airports is globally recognised as essential for reducing bird strikes and wildlife-related disruptions, which can lead to costly repairs, delays and operational losses.
By proactively managing such risks, the Mattala Wildlife Unit is expected to lower potential costs for airlines and airport operators while improving efficiency and confidence among carriers considering future operations.
Marasinghe said the airport’s proximity to premier tourism destinations such as Yala National Park and Udawalawe National Park, together with marine tourism opportunities including Blue Whale watching, gives Mattala a strong commercial advantage.
“This convergence of aviation and wildlife tourism creates an extraordinary opportunity,” he said, adding that the airport has the potential to become a major gateway for high-value eco-tourism.
Industry observers note that wildlife tourists generally spend more on guided safaris, hotels, transport and local experiences, generating stronger foreign exchange earnings and employment opportunities for surrounding communities.
Marasinghe said integrating environmental standards into airport operations would also improve Sri Lanka’s global image at a time when investors and international travellers increasingly value sustainability.
“By integrating environmental considerations into airport operations, we position Sri Lanka more favourably on the global stage, demonstrating that we are a nation committed to sustainability, responsibility and innovation,” he said.
He expressed hope that the Mattala model would be replicated at other international airports, creating long-term savings, stronger environmental governance and wider economic returns.
The Director General said the Department of Wildlife Conservation remains committed to supporting the national economy through new and meaningful avenues while protecting Sri Lanka’s natural assets.
“Conservation must also contribute to development,” he said, stressing that protecting biodiversity and generating growth can go hand in hand.
By Ifham Nizam
Business
Aitken Spence Elevators and CINEC usher in a new era for Sri Lanka’s elevator industry
Aitken Spence Elevators, in collaboration with CINEC Campus, recently held the Certificate Awarding Ceremony for the latest batch of trainees of the Elevator Serviceman Course at the Elevator Training Centre (ETC). The graduates were awarded their NVQ Level 3 certifications, marking a significant milestone in their professional journey within Sri Lanka’s vertical transportation industry.
The certification programme was developed in partnership with the National Apprentice and Industrial Training Authority (NAITA) and the Ministry of Vocational Training & Skills Development, ensuring trainees received industry-recognised qualifications, alongside strong practical competencies. The ceremony was attended by directors of both Aitken Spence and CINEC Campus, as well as staff members, lecturers, and invited guests of the graduating students
Anuka Prashan Pieris was recognised as the Most Outstanding Student of the batch in appreciation of his exceptional performance and commitment throughout the programme. The Elevator Training Centre plays a vital role in addressing the growing demand for skilled elevator service technicians through structured training and hands-on learning. The facility features Sri Lanka’s first Elevator Training Tower, offering trainees practical exposure aligned with both local and international standards.
All graduates of the current batch have already commenced their careers as technicians and supervisors at Aitken Spence Elevators. Their seamless transition into the workforce reflects the programme’s strong emphasis on developing job-ready professionals capable of contributing effectively from day one.
Business
Sterling Steels wins Merit Award at SLIA Annual Product Awards 2026
COLOMBO, SRI LANKA– Sterling Steels (Pvt) Ltd, a premier manufacturer of high-quality globally renowned steel roofing & cladding, announced it has been honored with a prestigious Merit Award at the Sri Lanka Institute of Architects (SLIA) Annual Product Awards 2026. The national recognition was awarded in the highly competitive Zinc-Aluminium Coated Profile Steel Sheet category, underscoring the company’s dedication to excellence, innovation, and superior quality in the Sri Lankan construction industry.
The award was presented during a grand ceremony held at the esteemed Nelum Pokuna Theatre, a key event in the nation’s architectural and construction calendar. The SLIA Annual Product Awards are widely regarded as a benchmark for quality and design excellence, with products rigorously evaluated by a panel of distinguished architects and industry experts. Receiving this Merit Award positions Sterling Steels among the top-tier suppliers of building materials in the country.
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