Business
Green bonds gain traction in Sri Lanka
By Securities and Exchange Commission of Sri Lanka
(Continued from Yesterday)
Qualification Criteria for Green Bonds
The International Capital Market Association’s (ICMA) Green Bond Principles (GBP) and the Climate Bonds Initiative’s (CBI) Climate Bond Standards (CBS) help to determine whether a bond qualifies as green or not. Usually, green bonds must undergo a third party verification/certification to establish that the proceeds are funding projects that generate environmental benefits. The four Green Bonds Principles that define a green bond relate to:
Use of proceeds: the issuer should declare the eligible green project categories it intends to support. It should also provide a clear definition of the environmental benefits connected to the project(s) financed by the proceeds.
Process for project evaluation and selection: the issuer should outline the investment decision making process it follows to determine the eligibility of individual investments using the green bond’s proceeds.
Management of proceeds: the proceeds should be moved to a sub portfolio or otherwise attested to by a formal internal process that should be disclosed.Reporting: the issuer should report at least annually on the investments made from the proceeds, detailing wherever possible the environmental benefits accrued with quantitative/qualitative indicators.
Green Bond Issuances by the Emerging and Developing Economy Segment
Emerging Market and Developing EMDE Green Bonds Issued by Non
(EMDE) Green Bond Issuances by Sector financial corporates, 2021
Cumulative Emerging Market Green Bond Issuances From 2012-2021 ($mn)
Total Return Performance of Global Green Bonds vs. Global Aggregates
Benefits of Issuing Green Bonds
- Benefits for issuers can include:
- Improve investor diversification
- Enhance issuer reputation
- Provide an additional source of sustainable financing
- Increase alignment regarding the durability of instruments and the project lifecycle
- Attract strong investor demand, which can lead to high oversubscription and pricing benefits
- Can facilitate the establishment of public private partnerships that might accelerate the pace of green investment and lead to the adoption of new technologies.
Benefits for investors can include:
- Comparable financial returns with the addition of environmental and/or social benefits
- Satisfy ESG requirements for sustainable investment mandates
- Contribute to national climate adaptation, food security, public health, energy supply, amongst others
- Enable direct investment in the ‘greening’ of brown sectors and social impact activities
- Increased transparency and accountability on the use and management of proceeds, becoming an additional risk management tool
- Green bonds can help mitigate climate change-related risks in the portfolio due to changing policies such as carbon taxation which could lead to stranded assets. Instead, a green bond invests in climate-friendly assets, such as green buildings, renewable energy, that over time bear a lower credit risk.
Potential for Introducing Green Financing Initiatives in Sri Lanka
Presently, more corporate bodies are interested in moving towards green projects/initiatives in order to ensure sustainable development in their businesses while ensuring the protection of the environment and wellbeing of the society. Green Bonds will broad base investment opportunities available for investors and provide an avenue for the companies who are interested in engaging in green projects. This would offer investment opportunities to groups (both local and foreign) who are interested in investing in green projects which would benefit the overall Capital Market.
In year 2022, the Central Bank of Sri Lanka (CBSL) launched a green taxonomy in partnership with the International Finance Corporation (IFC) that defines and categorizes economic activities that are environmentally sustainable, and would aide in providing a holistic strategy to integrate sustainability into the country’s financial system.
The Colombo Stock Exchange (CSE) is already registered under the Sustainable Stock Exchanges (SSE) initiative and is currently working on ESG related initiatives under the guidance of the Securities and Exchange Commission of Sri Lanka (SEC). The SSE initiative provides a peer to peer learning platform for exploring how exchanges in collaboration with investors, regulators, and companies can encourage sustainable investment and enhance corporate transparency, and performance on ESG.
Steps Taken by the SEC for Introducing Green Bonds and Facilitating Sustainable Finance Initiatives
The introduction of Green Bonds to the Sri Lankan Capital Market would enable listed entities to raise capital for Green projects adhering to international principles applicable. This would not only expand the supply side but also open up avenue for getting much needed foreign inflows to the country from foreign funds.
Moreover, in June 2022 to enhance the awareness building initiatives in relation to ESG, a MOU was signed between the SEC, CSE and the Chartered Financial Analysts (CFA) Society. The MOU broadly intended to establish a collaborative relationship to promote awareness of ESG among Sri Lankan investors to enhance investor protection, encourage capital market practitioners to introduce ESG into their investment research and valuation process to keep abreast with challenging global trends and ensure that the professional standards and integrity are maintained in the Sri Lankan capital market.
In August 2022, to promote ESG reporting by listed companies, the SEC, CSE and the Institute of Chartered Accountants of Sri Lanka (ICASL) entered in to a Memorandum of Understanding (MOU) which broadly covered areas on building awareness on integrated reporting, corporate governance, sustainability and any other related areas for the benefit of corporates and the users of financial statements/corporate reports.
In addition the SEC developed a policy and regulatory framework governing Green Bonds in consultation with Technical Experts from the Asian Development Bank (ADB) and the CSE and in April 2023, the SEC Commission approved rules for issuing Green Bonds.
Presently, the CSE under the guidance of the SEC is completing the groundwork for launching a green index. A green index would help investors assess and integrate sustainable financing considerations in their investment process and portfolio.
Business
Dialog & IESL open National Startup Challenge to empower Sri Lanka’s entrepreneurs
Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider, joins the Institution of Engineers, Sri Lanka (IESL) to launch the IESL National Startup Challenge, creating a national pathway for aspiring entrepreneurs to transform innovative ideas into commercially viable, investment-ready startups. The initiative reflects a shared commitment to strengthening Sri Lanka’s entrepreneurship ecosystem through structured development, expert mentorship and practical support that enables promising ideas to progress towards market readiness and scale.
Launched through the IESL Entrepreneurship Forum at the Dialog Auditorium on 5 October 2026, the competition invites Engineering Undergraduates, Engineering Practitioners and participants in an Open Category for Non-Engineers to submit ideas across 12 innovation verticals aligned with national priorities, emerging technology and market trends, and inclusive innovation. Participants will progress through idea development, pitching, incubation, prototyping, validation, minimum viable product development and business scaling, supported by industry experts, mentors and ecosystem partners. The programme will culminate in a Top 10 selection, with the first-place winner receiving an award of LKR 1 million.
As title sponsor and a key ecosystem enabler, Dialog is contributing practical expertise and resources beyond sponsorship, providing technical expertise, mentors and digital resources to help participating teams develop, validate and scale their solutions. Each of the Top 10 teams will also receive a Dialog Digital Startup Support Package valued at LKR 250,000, comprising selected Dialog digital products and services.
“Dialog is committed to enabling Sri Lanka’s next generation of innovators by connecting entrepreneurial ambition with the technology, expertise and practical resources needed to turn ideas into scalable ventures. Through the IESL National Startup Challenge, Dialog is extending its digital capabilities, mentorship and ecosystem support to help promising teams progress from concept to validation and investment readiness,” said a representative of Dialog Axiata PLC.
Eng. Jasmine Nanayakkara, Chairperson of the Entrepreneurship Forum at the Institution of Engineers, Sri Lanka, added, “The IESL National Startup Challenge is designed to turn innovative ideas into viable businesses by connecting aspiring entrepreneurs with industry expertise, mentorship and continuous practical support. More importantly, it is about creating an ‘Engineer to Entrepreneur’ transformation and nurturing a stronger entrepreneurial culture within the IESL community. By encouraging our engineers and aspiring founders to create, commercialise and scale solutions, we aim to contribute to new ventures, new opportunities and meaningful job creation for Sri Lanka’s skilled and educated next generation. We are grateful to Dialog for partnering with IESL to create this pathway for innovation, entrepreneurship and national economic growth.”
Driving innovation across Sri Lanka, the National Startup Challenge also brings together a strong network of partners, including The Ceylon Chamber of Commerce as Ecosystem and Mentoring Partner, Helago as Official Mobility Partner, Helakuru as Official Digital News Partner, and Real Life as Official Climate Action Partner.
The IESL National Startup Challenge represents a collaborative effort to strengthen Sri Lanka’s innovation and entrepreneurship ecosystem by creating a structured pathway from promising ideas to market-ready businesses. Applications are now open via www.iesl.lk/announcements, giving aspiring entrepreneurs an opportunity to access the resources and funding they need to succeed. Applications close on 16th November 2026. For more information, contact mgr.pub@iesl.lk / 071 109 4393.
Business
Why Convenience Is Reshaping Household Cleaning Habits
Keeping a home clean involves more than dealing with one kind of mess. Kitchens face grease and cooking splashes, bathrooms develop soap scum and limescale, while frequently used areas around the home collect marks, fingerprints and everyday dirt.
For households looking to simplify this routine, multi-surface cleaners offer a practical solution by allowing one product to tackle multiple cleaning needs across suitable surfaces.
One home, many everyday messes
In the kitchen, grease, splashes and burnt-on food can build up around hobs and hotplates. Cupboard doors and appliance exteriors can also collect smudges and marks through daily use.
Bathrooms present different challenges, including limescale, soap scum, toothpaste residue and water marks around sinks, washbasins and shower doors.
Even outside these rooms, surfaces such as door handles, baseboards, table mats and PVC areas can require regular attention.
Making everyday cleaning simpler
This is where the versatility of products such as CIF Cream becomes useful.
CIF Cream can help tackle a range of common household cleaning challenges across suitable surfaces, from grease and burnt-on food in the kitchen to limescale and soap scum in the bathroom.
Its uses can also extend to other suitable areas and items around the home, including cupboard doors, appliance exteriors, PVC surfaces and more, when used according to product directions.
For busy households, the benefit is straightforward: a versatile cleaner can help reduce the complexity of everyday cleaning by addressing several common cleaning needs with one product.
Consumers should always follow product instructions and check suitability before using any cleaner on a particular surface.
CIF products are now available at Cargills, Keells, Glomark and Celeste, as well as online through Daraz and uStore, at a retail price of Rs. 900 for 500ml. Shop CIF online at https://ustore.lk/collections/cif or https://www.daraz.lk/cif/
As household routines continue to evolve, multi-surface cleaning provides a simple approach to keeping different areas of the home clean — one versatile solution for many of the everyday messes that come with daily life.
Business
Dreams in motion for group of young Olympiad contenders
SriLankan Airlines set dreams in motion for 24 young students selected to represent Sri Lanka at the 2026 International Mathematics and Science Olympiad, held in Indonesia from 2 to 7 October 2026, helping make their journey to Indonesia and back an extra special one.
The students were selected through a four-stage national selection process covering school, zonal, provincial and national levels, with the highest-performing students progressing at each stage.
As a special initiative for Children’s Day, the Ministry of Education sponsored the air travel of all 24 students for the first time. Returning to Sri Lanka with an impressive haul of three Silver Medals and 10 Bronze Medals, the young contestants competed alongside students from 23 countries.
SriLankan Airlines was privileged to be part of their special journey, helping make their experience even more memorable as they represented Sri Lanka on the international stage.
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