Business
Unilever Sri Lanka, the Central Environmental Authority and the Marine Environment Protection Authority enter into a partnership for a sustainable future
As part of its broader sustainability agenda, Unilever Sri Lanka remains committed to collecting +100% of the equivalent plastic it sells into the domestic market. A key enabler of this will be a public-private partnership between Unilever the CEA and the MEPA to clean and step up the health of the Kelani River which provides drinking water to 4 million Sri Lankans. This was formalized through a MoU signed recently.
Ali Tariq, Chairman and CEO at Unilever Sri Lanka said, “In our efforts to create a circular economy for plastics, we are proud to confirm that over the last 2 years we have collected +100% of the equivalent plastic volume that we have sold through our products.
The Kelani River clean-up partnership will enable our commitment to continue to do so and support the national agenda of ‘Extended Producer Responsibility for plastic manufacturers’.
A clean Kelani River will not only provide safe drinking water but also foster a thriving environment for fishing and tourism, creating opportunities and improve living standards.”
Venura Fernando, Chairman of Central Environmental Authority further stated, “We find it promising to witness corporates such as Unilever stepping in to fulfill their ‘Extended Producer Responsibilities’ through enduring commitments and partnerships.
The collaboration with Unilever Sri Lanka on the Kelani River cleanup project exemplifies this effort. Public-Private Partnerships will play a crucial role in addressing environmental challenges, and we are optimistic that this initiative will effectively harness the combined expertise of both sectors for a sustainable future,”
This five-year project will encompass multiple activities, including cleaning programs along the river, the adjoining beaches and the seabed. These will be implemented in collaboration with local councils, and through community engagement and training to raise awareness amongst schoolchildren, residents and local authority workers, and the installation of floating barriers to prevent further pollution. The initiatives will focus on the mouth of the river to prioritise the health of the coastal ecosystems and marine life.
“MEPA is fully supportive of this project and recognizes the importance of protecting our precious marine environment said Asela Rekawa, Chairman of Marine Environment Protection Authority. “The Kelani River feeds directly into the ocean, and effective waste management practices are crucial to safeguard our marine resources.”
The project adds to Unilever Sri Lanka’s broader sustainability agenda. The latter extends to also addressing climate change, protecting nature, promoting responsible plastic use, and recognising the vital role healthy ecosystems play in supporting livelihoods.
India – Sri Lanka bilateral relations
By Sanath Nanayakkare
Sri Lanka cannot afford to stay in isolation and the two countries’ future is tied together even more than in the past, was the highlight of the keynote speech delivered by Santosh Jha, the High Commissioner of India to Sri Lanka, at the Innovation Island Summit held at ITC Ratnadipa on 20 February 2025.
“Like any other country, Sri Lanka cannot afford to remain in isolation, and the futures of the two nations are more interconnected than ever before, the Indian HC pointed out, addressing the key event attended by 200 participants from over 45 countries.
The following are some excerpts from his speech.
“Sri Lanka is on the cusp, potentially, of a big change. People’s aspirations and expectations have found a new expression in the two elections held in Sri Lanka. The Covid pandemic and the economic crisis in Sri Lanka has underlined the need for a transformation that many Lankans have yearned for generations to happen.”
“Sri Lanka as an Island country is particularly vulnerable to climate change. It is also blessed with rich potential for green energy, including for energy exports to the larger Asian region. And Chrome because digitization has become the new currency for low middle income countries to transcend their entrenched inefficiencies; and to outgrow them to position themselves to take full advantage of the many opportunities in an emerging geo-technological age.”
“Third, and this is my last point. Like any other country, Sri Lanka cannot afford to stay in isolation. Global connectivity and interdependence remain a norm even in this new era of re-globalization. Whether it is markets abroad, or critical imports or tourism, investment and technology, Sri Lanka needs to remain engaged with the rest of the world. This requires a better understanding of global trends and opportunities. I am sure that this conference would help build a better appreciation of the need for global engagement as a means to fulfilling the aspirations of Sri Lankans for change, growth, and prosperity.”
“As far as we in India are concerned, we are engaged with Sri Lanka on the basis of our Neighborhood First and SAGAR approach. Our relations are based on the principles of solidarity; of sharing whatever best we can offer to each other; and being a partner of first as well as last resort. Today, our relations are better than ever before and spread across a wide range of domains. Prime Minister of India Shri Narendra Modi has described connectivity, energy and digitization as the three principal pillars of our development partnership. We are also engaged in other areas such as health, education, ports and airports, agriculture, fisheries in addition to security and defence. As civilizational twins, our partnership is a necessity and not a matter of choice. Our future is tied together even more than our past was.”
Mohamed Zafir Azeez, the founder of Projector.LK, has been recognized for his outstanding contributions to the industry for Business Excellence, Innovation, and Entrepreneurship. With over a decade of experience, he has built Projector.LK into a leading brand in Sri Lanka, providing high-quality Smart Boards, Multimedia Projectors and Business solutions.
Beyond business, Azeez is an inventor and researcher, focusing on emerging technologies and innovation. His dedication to entrepreneurship and technological advancements earned him these two awards he believes.
Committed to growth, Azeez aims to expand his business and continue pioneering technological solutions in Sri Lanka’s digital landscape, inspiring young entrepreneurs with his vision and leadership.
He expressed gratitude to his loyal customers for contributing to his success and vowed to continue winning awards in the future.”
The HNB Assurance Group, comprising HNB Assurance PLC (HNBA) and HNB General Insurance (HNBGI), reported a strong financial performance for 2024, with a 21% increase in Gross Written Premium (GWP), rising from Rs. 18.8 billion to Rs. 22.7 billion. The Group also achieved a consolidated Profit After Tax (PAT) of over Rs. 1.8 billion, marking a 7% growth compared to the previous year.
HNBA, the only life insurance provider in Sri Lanka with an ‘A’ rating from Fitch Ratings Lanka, and HNBGI, which also secured an ‘A’ rating, demonstrated robust financial health. The Group’s Funds Under Management grew by 24% to Rs. 55 billion, reflecting the strength of its investment strategy. Additionally, the Group honored claims exceeding Rs. 6.7 billion, with a 98% complaint resolution rate, underscoring its commitment to customer trust.
Chairman Stuart Chapman highlighted the Group’s consistent growth, with a 22% average annual increase in GWP over the past four years. He also noted the Group’s strong capital adequacy ratios, with HNBA at 379% and HNBGI at 219%, well above the regulatory requirement of 120%. The Group’s share price grew by 42% in 2024, reflecting market confidence.
HNBA CEO Lasitha Wimalaratne emphasized the company’s 7.5% market share and its target to reach 10% by 2026. HNBA’s New Business Premiums grew by 27%, and its GWP increased by 26%. Despite higher operating costs from IT upgrades, the company achieved a 3% profit growth, with total assets reaching Rs. 53 billion.
HNBGI CEO Sithumina Jayasundara highlighted the company’s resilience, with a 14% GWP growth, double the industry average. Non-motor segments surged by 24%, with Marine, Fire, and Engineering Insurance achieving exceptional growth. Despite challenges in the motor insurance sector, HNBGI secured a 6% growth. The company also achieved a 59% growth in PAT and a market share of 7%, with total assets reaching Rs. 10.2 billion.
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