Climate resilience is no longer an environmental concern on the periphery of policymaking but a critical economic imperative that will determine Sri Lanka’s future competitiveness, export performance, investment attractiveness and long-term growth prospects, leading development agencies and private-sector leaders warned at a high-level forum titled Sri Lanka Climate Summit in Colombo recently.

With climate shocks becoming increasingly frequent and costly, experts said that Sri Lanka must urgently strengthen climate-resilient infrastructure, reform key utility sectors, modernise its data systems and improve access to global climate financing if it hopes to sustain economic recovery and attract investment.

The discussion brought together representatives from multilateral institutions, development agencies and the private sector, who argued that climate adaptation should be viewed not as a financial burden but as one of the largest economic opportunities available to emerging economies.

Addressing the forum, Asian Development Bank (ADB) Country Director for Sri Lanka, Shannon Cowlin, said countries with stronger economic fundamentals are better positioned to absorb climate shocks and recover faster.

“Climate resilience is not only about infrastructure. It is also about macroeconomic resilience. Countries that maintain sound economic management can respond more effectively when disasters occur,” she said.

Referring to Sri Lanka’s recent response to Cyclone Ditwa, Cowlin noted that the country’s economic reforms and recovery programme had significantly improved its ability to manage the disaster compared with previous years.

The ADB highlighted the importance of ongoing reforms in the energy and water sectors, particularly efforts to establish cost-reflective tariffs that would enable utilities to maintain and upgrade critical infrastructure.

“We cannot expect financially distressed utilities to invest adequately in resilience,” she cautioned.

The bank is currently preparing emergency assistance financing to support post-cyclone recovery efforts while embedding internationally recognised “Build Back Better” principles into reconstruction programmes.

Rather than merely restoring damaged assets, future investments will focus on strengthening roads, drainage systems and other public infrastructure to withstand increasingly severe weather events.

Dilmah chairman and Chief Executive Officer Dilhan Fernando warned that climate change represents a direct threat to Sri Lanka’s export competitiveness, especially for premium products such as Ceylon Tea and Ceylon Cinnamon.

“Adaptation is simply another word for survival,” Fernando said.

He observed that rising temperatures, changing rainfall patterns and increasingly unpredictable weather events are beginning to challenge the environmental conditions that have historically given Sri Lankan agricultural products their global reputation.

“The planet has already warmed by more than 1.3 degrees Celsius. Scientists project warming levels approaching three degrees, which would create environmental conditions not experienced for millions of years, he said.

Fernando warned that climate pressures could significantly affect both production volumes and product quality in the tea sector.

“We speak about achieving 400 million kilograms of tea production. Given the climate extremes we are witnessing today, we need to question whether such targets remain realistic in the long term,” he said.

He also highlighted a growing commercial challenge emerging from international markets.

The European Union’s new sustainability and supply-chain regulations are expected to impose stricter environmental compliance requirements on exporters, potentially affecting market access for companies unable to demonstrate sustainable production practices.

“These developments are not simply regulatory requirements. They represent a structural transformation in global trade and consumer expectations,” Fernando said.

However, he argued that businesses should approach climate adaptation as a strategic growth opportunity rather than a compliance exercise.

By Ifham Nizam

Sri Lanka Insurance Corporation General Limited (SLICGL), the nation’s trusted leader in general insurance, has been recognised as Sri Lanka’s No. 1 Most Loved General Insurance Brand in 2026.

The prestigious honour, awarded by LMD – The Voice of Business, demonstrates the deep trust, confidence, and lasting relationships customers continue to place in SLICGL. It is clear evidence of the company’s continued commitment to service excellence, innovation, and reliability in protecting lives and businesses throughout the country.

As SLICGL continues to command the industry, it remains dedicated to protecting lives, supporting communities, and delivering trusted insurance solutions nationwide. The achievement also celebrates the dedication of employees, sales teams, business partners, and stakeholders whose collective efforts have strengthened the brand and nurtured long‑term customer relationships.

The recognition reinforces SLICGL’s position as the country’s leading force in the insurance sector, motivating the organisation to enhance products, services, and customer experiences, maintaining the highest standards for all touchpoints.

Today, the bond thrives on consistent delivery. SLICGL remains the undisputed market leader in Sri Lanka’s general insurance industry, with a 20.2% market share and a Gross Written Premium of Rs. 30.3 billion in 2025. During the year, the company settled Rs. 12.3 billion in insurance claims and benefits, including in the aftermath of Cyclone Ditwah, standing by policyholders when it mattered most. Its motor solutions arm, Motor Plus, retained its place as the country’s number one motor insurer.

International Distillers Limited (IDL) ceremonially reopened the newly renovated Medical Officer of Health (MOH) Office, Kaduwela, on 6th May 2026, in a meaningful affirmation of the Company’s long-standing commitment to the community it calls home.

The event was graced by IDL Chairman Mohan Tissanayagam, Deputy Chairperson Indhu Selvaratnam, Chief Executive Officer Janek Jayasekara, Executive Director Dr. Kemal de Soysa, and the Company’s senior leadership team.

Dr. Chandana Pathberiya,Medical Officer of Health, Kaduwela, warmly welcomed the gathering and expressed his gratitude for IDL’s continued investment in the public health infrastructure of the area. Rohitha Amarapala, Chief Human Resources Officer of IDL, spoke passionately of the Company’s enduring engagement with the Kaduwela community and its commitment to creating shared value for society, the environment, and the business in equal measure. Dr. Kushan Basnayake, Consultant Community Medicine, extended his heartfelt appreciation to IDL, commending the initiative as a commendable example of responsible corporate citizenship.