Connect with us

Business

Expertise France and the Colombo Stock Exchange collaborate

Published

on

Jason Taylor, Team Leader at Baastel conducting a presentation on an analysis that identified key obstacles in issuing corporate green bonds in Sri Lanka

Expertise France, in collaboration with the Colombo Stock Exchange (CSE), hosted a pivotal Stakeholder Consultation Session on “Challenges for Issuing Corporate Green Bonds in Sri Lanka” at the Galle Face Hotel, Colombo, engaging over 75 participants.

The consultation was organized within the framework of the EU Green Recovery Facility, a four-year initiative funded by the European Union (EU) and implemented by Expertise France. The initiative aims to support Sri Lanka’s transition towards a green economy by addressing structural barriers in sustainable finance.

Green bonds have the potential to play a crucial role in mobilizing capital for climate action, aligning with Sri Lanka’s net-zero commitments and Nationally Determined Contributions (NDCs). However, limited issuance in the local market has revealed a range of challenges, including the need for sector-specific financing solutions and enhanced investor confidence in green financial instruments.

As part of this effort, an analysis was conducted to identify key obstacles in issuing corporate green bonds in Sri Lanka. Mr. Jason Taylor, Team Leader at Baastel, presented the findings, conclusions, and key recommendations of the study. The study examined the full spectrum of challenges – from identifying financial gaps in priority sectors to gauging investor interest in green financial products.

This Consultation Session provided an opportunity for stakeholders to critically engage with the study’s recommendations and allow the Facility to collect comments to tailor the recommendations.

During the consultation, Mr. Johann Hesse, Head of Cooperation at the European Union Delegation to Sri Lanka, shared insights on the EU’s support for green finance initiatives. Ms. Kumudini Vidyalankara, Director of Environment Planning & Economics at the Ministry of Environment, highlighted the role of policy frameworks in supporting the issuance of green bonds. Representing the CSE, Ms. Punyamali Saparamadu, Senior Vice President Commercial, discussed the CSE’s role in facilitating green bond listings in the market.

The EU and CSE remain committed to supporting the development of the green bond market and working with stakeholders to drive sustainable financial solutions in Sri Lanka.



Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

From Mt. Fuji to Sri Pada: Lessons from a father-son climb

Published

on

by SK Samaranayake

For Daham Gunasena, reaching the summit of Mt. Fuji with his 12-year-old son was not the end of the journey but the beginning of a different kind of lesson.

Gunasena, Director – Commercial at SPAR Sri Lanka and a senior business leader, academic and Chartered Accountant, spent nearly 12 hours on August 19 climbing Japan’s highest mountain with his son, Methum. After eight hours of climbing, the pair reached the 3,776-metre summit before beginning a demanding four-hour descent to Fujinomiya 5th Station.

“The summit was only halfway,” Gunasena reflected, describing the experience as a lesson in preparation, perseverance and responsibility.

Their journey began two days earlier with a trial excursion to the 6th Station and the volcanic landscape around Mt. Hoei. The experience allowed Gunasena to assess the altitude, terrain, weather and equipment before deciding whether his son was ready for the summit attempt.

The climb itself reinforced the value of taking one step at a time. Rather than focusing on the distant summit, father and son concentrated on the next marker, the next few steps and short periods of rest.

Reaching the summit brought another lesson. After taking photographs and celebrating, they still had four hours of descent ahead of them over loose volcanic terrain.

“Reaching the top was an achievement. Returning safely was success,” Gunasena said.

The experience also prompted him to reflect on how Japan manages Mt. Fuji, including visitor education, digital information, sanitation, transport, safety and environmental protection.

Having climbed Sri Pada 12 times last year and five times so far this year, Gunasena sees opportunities to apply some of these principles in Sri Lanka without compromising the mountain’s unique pilgrimage traditions.

He suggested a comprehensive digital platform for Sri Pada providing information on weather, congestion, transport, sanitation, first aid and emergencies, while educating foreign visitors about its religious significance.

For Gunasena, however, the most enduring lesson was personal: a mountain can teach what lectures cannot—through preparation, perseverance, respect for nature and the shared experience of taking each step together.

Continue Reading

Business

FLIR, Marlbo promote smarter industrial maintenance

Published

on

Sri Lankan industries are being encouraged to adopt advanced condition monitoring technologies to detect equipment problems before they develop into costly failures, as global technology company FLIR and its local partner Marlbo Trading Company strengthen their collaboration.

The companies brought together industry professionals at a technical seminar held on August 20 at Taj Samudra, Colombo, focusing on the use of thermography and acoustic imaging to reduce unplanned downtime, improve energy efficiency and lower maintenance costs.

Organised by Marlbo under the theme “Condition Monitoring Using Thermography and Acoustic Imaging for Measurable ROI,” the seminar highlighted the growing importance of proactive and predictive maintenance in improving equipment reliability and operational efficiency.

FLIR Sales Director – Instrumentation, India, Bhaskar Lala, and APAC Condition Monitoring Specialist David Gambarte shared their expertise on the latest diagnostic technologies and their practical industrial applications.

Thermal imaging can identify abnormal heat patterns linked to electrical and mechanical faults, while acoustic imaging can detect problems that may go unnoticed during routine inspections.

The technology is particularly useful in identifying compressed-air leaks, which can cause significant energy losses and increase operating costs.

Shevon Liyanage, Engineer – Measuring Instruments at Marlbo, also shared insights into applying condition monitoring technologies in the Sri Lankan industrial environment.

Continue Reading

Business

Lumbini Tea Valley wins intl award for Singharaja Wirytips

Published

on

Chaminda Jayawardana receiving the award

Lumbini Tea Valley Ceylon won an award for its Singharaja Wirytips at The Leafies: International Tea Awards held in London in 2024, marking another international recognition for the Sri Lankan tea producer.

The award comes as the company marks two decades of direct exports, with its premium and organic Ceylon teas now reaching 35 countries across six continents.

Established in 1984, Lumbini Tea Valley began its direct export drive after Chaminda Jayawardana joined the family business in 2000 alongside his father, Dayapala Jayawardana. The initiative materialised in 2006 with the company’s first direct shipment—a 15-kilogram consignment of Flowery Broken Orange Pekoe (FBOP) tea to the United States.

Since then, the company has expanded its direct-export operations, which now account for around 20% of its total manufacturing output. Following its transition to organic production, approximately half of its organic tea output is exported directly by the company.

Its key export markets include Japan, the United States, France, the Netherlands, Switzerland and Australia, with direct shipments now reaching 35 countries.

The company said its direct-export model would continue to expand amid growing international demand for traceable, single-origin Ceylon tea, with premium and organic grades at the centre of its export strategy.

Continue Reading

Trending