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WEF: Climate finance pivotal to alleviating harm from South Asia’s extreme heat

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The World Economic Forum said in a report last week that Climate finance is pivotal to alleviating harm from South Asia’s extreme heat as weather phenomena casting a long shadow over the region’s future.

It said: In the sweltering streets of South Asia, where temperatures soar to staggering heights, heat waves are not merely weather phenomena but existential threats, casting a long shadow over the region’s future. Recently, temperatures have soared as high as 52 degrees Celsius in Pakistan and India, emphasizing the severity of the situation.

As climate change accelerates, South Asia finds itself at the forefront of a battle against rising temperatures, with heat waves wreaking havoc on lives, livelihoods and ecosystems. From the ancient ruins of Mohenjo Daro in Pakistan to the modern hustle of Delhi, India, no corner of the subcontinent is immune to the scorching embrace of extreme heat.

However, the most vulnerable populations, those who have least contributed to climate change, bear the heaviest burden. Among these vulnerable groups, the impacts are even more severe for female-headed households, children, persons with disabilities, Indigenous Peoples, ethnic minorities, landless tenants, migrant workers, displaced persons, sexual and gender minorities, older people and other socially marginalized communities.

The Intergovernmental Panel on Climate Change’s Sixth Assessment Report emphasizes urgency – that climate risks are escalating faster than anticipated. The report highlights how 3.6 billion people live in highly vulnerable areas, with low-income countries and small island developing states disproportionately affected. Despite contributing minimal emissions, these regions suffer the most, with death rates from extreme weather events 15 times higher than in less vulnerable areas.

In South Asia, extreme heat has forced thousands of schools to close, widening the education gap for children from low-income families. This disruption compounds previous school closures during the COVID-19 pandemic, increasing dropout risks and negatively impacting human capital development.

Certain occupational groups, such as construction workers, transport drivers, farmers and fishermen, face disproportionate heat impacts, affecting their livelihoods, reducing income and posing serious health risks.

Additionally, an exceptionally warm April and May event occurred, with only a 3% probability of occurring in any given year, roughly once every 30 years. Climate change has made these extreme temperatures about 45 times more likely and 0.85 degrees Celsius hotter compared with previous decades.

Delivering adequate climate finance and establishing an effective’ loss and damage’ fund are crucial in addressing climate change impacts in South Asia, including heat waves. Despite over $700 million pledged to the Loss and Damage Fund at the 2023 United Nations Climate Change Conference (COP28), questions persist regarding the transparency and effectiveness of fund disbursement. Urgent action is needed to ensure climate finance reaches those most vulnerable, especially at the grassroots level.

While the establishment of the fund is a positive step, significant uncertainty remains about the timing and distribution of promised funds. Effective mechanisms are required to ensure wealthier countries fulfil their obligations to support developing nations in managing climate change consequences.

It is imperative to implement systems that facilitate efficient fund distribution and hold those responsible for providing assistance to communities most affected by heat waves and other climate-related disasters in South Asia accountable.

In light of these challenges, it is crucial to employ targeted strategies that utilize climate finance effectively to manage heat stress and mitigate the devastating impacts of heat waves in South Asia.



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State Mortgage and Investment Bank Law No. 13 of 1975 to be amended

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The Cabinet of Ministers approved the resolution furnished by the President in his capacity as the Minister of Finance, Planning and Economic Development to instruct the Legal Draftsman to prepare a draft bill to amend the State Mortgage and Investment Bank Law No. 13 of 1975

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Animals Act No. 29 of 1958 amended

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By Cabinet decision dated 2025-12-01, policy approval was granted to amend the definition of the term “animal” in the Animals Act No. 29 of 1958 by including, pigs, goats, and sheep, in addition to cattle and buffaloes, within the interpretation section of the act.

In accordance with the said approval, the Legal Draftsman has drafted an Amended Bill in all three languages, and the clearance of the Attorney General has also been obtained.

Accordingly, the Cabinet of Ministers has approved the
resolution furnished by the Minister of Agriculture, Livestock, Land and Irrigation to publish the draft Amendment Bill in the Government Gazette and thereafter to submit the same to the Parliament for its concurrence.

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Cabinet approves establishment of a ‘Trust’ to carry out the management of the Jaffna Thiruvalluvar Cultural Centre

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The Jaffna Thiruvalluvar Cultural Centre, comprising 11 floors, has been constructed with the assistance of the Government of India with the objective of serving as a hub for cultural activities in Sri Lanka and expanding bilateral cooperation for the promotion, preservation, and fostering  the cultural heritage of Jaffna.

In accordance with the approval granted at the Cabinet meeting held on 2022-02-21, a Joint Management Committee has been appointed to make decisions relating to the affairs of the said cultural centre, in terms of the Memorandum of Understanding signed for the operation of the Jaffna Thiruvalluvar Cultural Centre.

According to the provisions of the aforementioned MOU, upon completion of the construction of the project, the cultural centre should be transferred to the Jaffna Municipal Council through the Government of Sri Lanka.

Following such transfer, the relevant parties have reached an agreement to establish a ‘trust’ for carrying out the management activities of the centre. The Attorney General’s clearance has been received for the draft trust deed prepared for that purpose.

Accordingly, the Cabinet of Ministers has approved the resolution furnished by the Minister of Buddhasasana, Religious and Cultural Affairs to establish the trust to continue the management activities of the Jaffna Thiruvalluvar Cultural Centre

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