Business
UN Global Compact Network Sri Lanka boosts companies’ sustainable ambitions
The United Nations Global Compact is the world’s largest corporate sustainability initiative, with more than 20,000+ participant companies globally. The Ten Principles of the UN Global Compact in the areas of Human Rights, Labour, Environment and Anti-corruption in alignment with the Sustainable Development Goals (SDGs) embed sustainability into business operations and their value chains.
Amidst a volatile business landscape, the UN Global Compact Network Sri Lanka (Network Sri Lanka) is empowering companies to set and achieve ambitious sustainability goals that drive long-term value creation. Through its innovative global Accelerator programmes and localised ‘Working Groups’, the organization provides a robust framework for businesses to learn from experts, define purposeful targets, align sustainability strategies, share experiences, and work towards common goals with collective problem-solving.
The Accelerators are multi-month corporate capacity development programmes conceptualised and developed by the UN Global Compact together with global experts, and delivered to participant companies across the world by local and regional specialists in key focus areas.
Rathika de Silva, the Executive Director of Network Sri Lanka, stresses, “These Accelerators are developed to guide businesses to set ambitious targets for high performance and are successfully run across many country networks. Advising businesses to join and reap benefits he says, “Allocating the right people and the right resources Is key to gain the maximum benefit, efficiency, the effectiveness.”
Currently, four Accelerator programmes are offered to Participant companies of Network Sri Lanka being Business and Human Rights Accelerator, Climate Ambition Accelerator, Target Gender Equality Accelerator and the SDG Innovation Accelerator. The Accelerators are exclusively for UN Global Compact Participant companies.
Sign up for the third round of its Business and Human Rights (BHR) Accelerator is now open with a deadline of December 2024. This important initiative offers companies a unique opportunity to advance their human rights practices through a comprehensive six-month journey
. Expert-led sessions, peer-to-peer learning, and tailored guidance help participants enhance their human rights due diligence processes. The programme will also address the Corporate Sustainability Reporting Directive (CSRD), a crucial development in corporate responsibility. Including CSRD in the curriculum, the accelerator demonstrates a commitment to keeping participants informed about the latest global standards and reporting requirements.
The ‘Climate Ambition Accelerator’ supports companies in aligning their business strategies with the Paris Agreement’s goal of limiting global warming to 1.5°C. Through a six-month programme, participants are guided in setting science-based emissions reduction targets and charting a path towards net-zero emissions. Today, over 35 Sri Lankan companies have actively participated in this Accelerator, demonstrating a growing commitment to climate action. Inviting more companies, Lucas Ribeiro, Climate Ambition Accelerator Lead, United Nations Global Compact says, “The transition to a net- zero economy will happen whether you like it or not…be part of the early movers to be part of this transformation.”
Dilhan Fernando, Chairman of UN Global Compact Network Sri Lanka, explains the importance of collaboration says, “The team has produced extraordinary results through the working groups, helping our colleagues to understand how we can navigate challenges of supply chain to build resilience. And as UN Global Compact, we have the benefit of learning from around the world.”
Recognizing the value of diverse perspectives, the ‘Gender and Diversity Working Group’ explores ways to foster a more inclusive and equitable workplace. With the participation of 24 companies, the group plans to address in 2024 issues such as female representation in STEM roles, equal pay for equal work and unconscious gender bias in the work place.
For more information engaging with UN Global Compact and Network Sri Lanka, corporates may contact Network Sri Lanka via chamath@ungcsl.com or on +94 77 066 8705
By Sanath Nanayakkare
Continuing its mission to drive inclusive economic recovery and empower Sri Lanka’s grassroots business sector, the Commercial Bank of Ceylon PLC has actively accelerated the disbursement of the Asian Development Bank’s (ADB) Enhancing Small and Medium-Sized Enterprises Finance Project line of credit.
As Sri Lanka’s premier private sector lender, Commercial Bank drives regional development by bridging financial gaps outside the Western Province. Jaffna and the broader Northern Province remain pivotal focus areas due to their immense potential for industrial regeneration, vibrant agricultural output, and entrepreneurial resilience in the post-crisis economic landscape.
Directing targeted, affordable financing enables local enterprises to overcome historical financing barriers, expand production capacity, and stimulate employment across regional supply chains.
Quality at the Source: ADB Country Director Shannon Cowlin inspects a bottle of premium sesame oil at the New V.S.P. Gingelly Oil factory floor in Jaffna. Working capital facilities extended through Commercial Bank under the ADB line of credit enable manufacturers like Harish Industries to meet growing wholesale and retail demand across Sri Lanka while securing long-term economic resilience.
The dedicated credit scheme offers affordable interest rates to help small and medium-sized enterprises (SMEs) rebound from recent macroeconomic shocks, maintain employment stability, and build long-term sustainability. Designed to target underserved segments, the funding line prioritizes viable enterprises located outside the Colombo district, women-owned and women-led businesses, and ventures incorporating strong climate finance components. Eligible sectors span manufacturing, agriculture, animal husbandry, technology, tourism, and direct export industries.
A standout beneficiary showcasing the transformative impact of this regional focus is Harish Industries, a flourishing manufacturing firm located within the purview of Commercial Bank’s Manipay branch in Jaffna. Owned and operated by proprietor Ponnuchamy Prabakaran, Harish Industries manufactures premium sesame oil under the popular brand name “New VSP Gingelly Oil”.
The working capital facility extended by the line of credit to Harish Industries helped to cater to short-term liquidity needs, ease out cash flow pressure, and operate the business in a sustainable manner.
Additionally, this financial backing helped create more employment opportunities, strengthen its supply chain, and expand business operations to meet growing wholesale and retail demand across Sri Lanka.
by Sanath Nanayakkare
True corporate leadership extends far beyond financial metrics and market dominance. For the Commercial Bank of Ceylon – recognised as Sri Lanka’s top-ranked bank in the 2026 edition of The Banker’s Top 1000 World Banks and the country’s first 100% carbon-neutral bank—true progress means investing directly in the nation’s ecological health.
On 19 September, the Bank demonstrated how a massive institutional infrastructure can be mobilised for the greater good.
Marking International Coastal Cleanup Day 2026 under its “Forward Together for a Cleaner Future” platform, the Bank brought together employees, corporate management, customers, and volunteers for a coordinated national conservation initiative spanning 20 locations.
What sets this effort apart is its deliberate breadth. The campaign moved far beyond a conventional beach cleanup by integrating 16 coastal sites – including prominent Colombo locations like Mount Lavinia, Wellawatte, and Galle Face, alongside regional spots from Point Pedro to Dondra – with four vital inland waterways, such as the Mahaweli River at Polgolla Dam and Parakrama Samudraya. This structural reach ensured that even inland communities could actively participate in a unified national environmental mission.
This massive undertaking was anchored by robust partnerships, working alongside the Marine Environment Protection Authority (MEPA) as the technical partner and the United Nations Global Compact (UNGC) Network Sri Lanka. By translating its formal 2025 adoption of Sustainable Development Goal 6 (Clean Water and Sanitation) and its role as a UNGC Patron into boots-on-the-ground volunteerism, the Bank bridged high-level environmental policy with grassroots action.
Ultimately, Commercial Bank’s nationwide mobilisation proves that when a premier financial institution harnesses its expansive network, corporate responsibility stops being a theoretical framework and becomes a tangible, community-driven force for a cleaner future.
The grand halls of the Taj Samudra in Colombo buzzed with a distinct energy on the morning of September 25, 2026, as leaders gathered for the National Celebration of World Tourism Day.
Yet, beneath the formal discussions on digital agendas and artificial intelligence, a deeper, more vibrant narrative was quietly unfolding. This was not merely a story of algorithms and automated efficiency; it was a human story – a tale of Sri Lanka’s youth stepping forward to redesign the future of hospitality.
For generations, Sri Lanka’s allure has been rooted in its timeless landscapes, golden shores, and the legendary warmth of its people. But as global travel evolves, a new generation of tech-savvy local innovators is finding ways to weave cutting-edge technology into the rich tapestry of Sri Lankan culture. This shift took center stage during the Tourism Start-Up Competition 2026, held under the theme “AI-Driven Innovation for the Future of Tourism”.
Out of 52 competitive applications spanning tertiary and commercial levels, young minds proved that technology and tradition can go hand in hand.
The twenty-five shortlisted teams stood before expert panels to defend visions that bridge the gap between ancient heritage and modern data intelligence.
Behind every submitted AI solution was a young entrepreneur eager to protect local destinations, enhance visitor experiences, and elevate service delivery.
When the twelve winners were finally honoured, the celebration transformed into something much greater than an awards ceremony.
It served as a powerful reminder that the true engine of Sri Lanka’s digital transformation is its youth. Armed with code, creativity, and a profound love for their country, these young visionaries are ensuring that when travelers explore Sri Lanka, they do not just witness the future – they feel the heartbeat of a new, digitally empowered era of hospitality.
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