Business
Hayleys Fentons launches “Roots of Resilience” programme to restore Bolgoda River’s mangroves
Sri Lanka’s commitment to mangrove conservation is a strong backdrop for Hayleys Fentons’ “Roots of Resilience” programme.
Hayleys Fentons Limited celebrated the inauguration of the “Roots of Resilience” biodiversity conservation programme. The project began with the signing of the MoU on November 7, 2023. This significant endeavour was carried out in collaboration with the Government of Sri Lanka and the Department of Coast Conservation and Coastal Resource Management (CCCRMD).
The “Roots of Resilience” biodiversity conservation programme aims to reinstate the vital mangrove ecosystem in the Bolgoda River. This river, a valuable natural treasure, was selected due to its ecological importance and the environmental threats it faces. The project witnessed the planting of 1,000 mangrove saplings on the banks of the river, an initial step towards the project’s long-term goal of enriching biodiversity and supporting local communities.
“Mangroves are highly productive but extremely vulnerable ecosystems found in the intertidal zone of coastal environments, including lagoons. In Sri Lanka’s Coastal Zone and Coastal Resources Management Plan (CZ&CRMP), mangroves are listed as one of the most important coastal habitats. Hayleys Fentons Limited’s “Roots of Resilience” is closely aligned with the country’s goals for mangrove protection and restoration, as replanting schemes are one of the CZ&CRMP’s core actions. Mangroves act as large filters, removing pollutants, excess nutrients, and sediment from inland municipal and industrial wastewater as well as stormwater runoff. The planting of 1000 mangrove saplings will have a major positive impact on the function of the habitat,” stated Eng. R.A.S. Ranawaka, Director General of CCCRMD.
“As this initiative also combats climate change effects on the habitat, it will improve ecosystem services, providing additional benefits to local fishermen communities through increased natural production. Community participation, public awareness, and close monitoring of progress are critical for the success and sustainability of the project’s five-year plan.”
Expressing his views, Hasith Prematillake, Managing Director of Hayleys Fentons Limited, highlighted the initiative’s dual purpose. “By undertaking this initiative, we wish to take meaningful action to benefit our valuable local environment while contributing to the global effort in preserving biodiversity and combating climate change, leaving a positive impact for the future generation.”
Sujith De Alwis, CEO of Hayleys Fentons Limited, emphasised the company’s consistent dedication to environmental stewardship, saying, “We understand the critical role that biodiversity conservation plays in ensuring the sustainability of our planet. Fully aligned with the United Nations Sustainable Development Goals, the “Roots of Resilience” initiative has a wide-ranging effect. Through mangrove replanting, it is anticipated to counteract climate change by removing 5.9 tonnes of atmospheric carbon per year. Furthermore, within two years, the preserved and regenerated mangrove ecosystems will support regional fisheries, promoting a robust ecosystem.”
Pamudith Gunawardana, Director Finance and the custodian of ESG efforts at Hayleys Fentons Limited, commented, “This endeavour is a critical step towards enhancing biodiversity conservation and contributing to ecosystem restoration.
Sri Lanka’s Central Bank Governor, Dr. Nandalal Weerasinghe, has underscored the critical role of sovereign credit rating agencies in helping debt-distressed nations smoothly transition out of default status after successful debt restructuring.
Speaking at the Global Sovereign Debt Roundtable (GSDR) in Washington DC on the sidelines of the IMF and World Bank Spring Meetings, Dr. Weerasinghe shared Sri Lanka’s ongoing debt restructuring experience.
He highlighted that while restructuring is a crucial step toward economic recovery, rating agencies must play a proactive role in reassessing countries’ creditworthiness fairly and promptly once restructuring is completed.
The GSDR, co-chaired by the IMF, World Bank, and G20 Presidency, serves as a key platform for debtor nations and creditors to address debt challenges.
Sri Lanka, a country which has undergone complex debt negotiations, has been an active participant in these discussions.
Governor Weerasinghe’s remarks come at a pivotal time, as Sri Lanka seeks to restore international investor confidence post-restructuring.
His call aligns with broader discussions at the GSDR on improving coordination between debtors, creditors, and financial institutions to ensure sustainable debt solutions, and help restore international investor confidence in countries such as Sri Lanka.
The roundtable also highlighted the newly introduced Sovereign Debt Restructuring Playbook, designed to guide countries through restructuring processes.
The Central Bank’s push for more responsive and supportive rating agency policies could set an important precedent for other debt-distressed economies as well.
Speaking at the GSDR, Treasury Secretary K M M Siriwardana acknowledged the International Monetary Fund (IMF) as instrumental in stabilising Sri Lanka’s crisis-hit economy, as the country prepares to receive its fifth IMF tranche of $344 million in the coming weeks.
Siriwardana reflected on Sri Lanka’s ‘extremely challenging journey’ since its 2022 economic collapse marked by severe shortages, public unrest, and a loss of confidence in governance.
“Seeking IMF support was a strength, not a weakness,” he asserted, crediting the Fund’s policy framework and technical assistance for reversing the economic freefall.
He highlighted over 200 IMF training programmes conducted to strengthen institutional capacity, stating, “The IMF laid the foundation for stability.”
Notably present at the discussion was Peter Brewer, the IMF’s former Senior Mission Chief for Sri Lanka, underscoring the close collaboration between Sri Lanka and the Fund.
Siriwardana traced the roots of the crisis to political instability between 2017–2019, the 2019 Easter attacks, and contentious tax policies, which collectively deepened Sri Lanka’s economic vulnerabilities. “Yet,” he noted, “Difficult reforms are now yielding positive results.”
By Sanath Nanayakkare
Calcey, a global software services provider, has achieved ISO 27001:2013 certification, the international benchmark for Information Security Management Systems (ISMS). This certification highlights Calcey’s strong measures in safeguarding client data and managing security risks.
The rigorous audit covered Calcey’s security protocols, risk management, and operational processes across its offices in Singapore, Sri Lanka, and the U.S.
Mangala Karunaratne, CEO of Calcey Technologies, stated that this milestone underscores their dedication to top-tier data security, reinforcing trust among clients in the U.S., Europe, and the Nordic regions.
The certification ensures compliance with global security standards, benefiting Calcey’s diverse clientele, from startups to large enterprises.
Chinese Dragon Café, a leading Sri Lankan-style Chinese restaurant, has announced that its temporary outlet at Alpine Hotel in Nuwara Eliya will remain open until April 30, catering to both loyal customers and tourists during the Avurudu season.
The seasonal branch has already gained popularity among locals and visitors, offering signature dishes like seafood fried rice, fried noodles, tom yum soup, hot butter cuttlefish, and crispy spring rolls. To enhance convenience, the café provides free delivery within Nuwara Eliya for hotel guests and holidaymakers.
This marks the brand’s first seasonal expansion to Nuwara Eliya, capitalizing on the influx of tourists especially from Colombo, enjoying the cool climate and festive atmosphere.
Heat index, is likely to increase up to ‘Caution level’ at some places in Eastern and North-central provinces and Mullaitivu and Vavuniya districts
People have now started to think of themselves as Sri Lankans sans ethnic or religious divisions- PM
Heavy showers about 100 mm are likely at some places in Central, Sabaragamuwa, Uva, Eastern and North-central provinces and in Vavuniya, Mullaittivu and Kurunegala districts.
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