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A National Partnership With Busineses For Biodiversity

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BIODIVERSITYin SRI LANKA

Safeguarding biodiversity is integral to sustainable development, competitiveness, economic growth and

employment. Many of the services that biodiversity and ecosystems provide are currently severely threatened. In an attempt to address this issue, Biodiversity Sri Lanka (BSL) was initiated in August 2012 by the Ceylon Chamber of Commerce, IUCN – the International Union for Conservation of Nature and Dilmah Conservation. It was created to respond to a demand for the establishment of a facility where businesses can come together to share experiences and best practices, learn from their peers, and voice their needs and concerns, aiming to strengthen the link between the business sector and the conservation community. BSL aims to assist the private sector to make a paradigm shift in efforts to place true and realistic values on Sri Lanka’s natural heritage.

Forging linkages

BSL is a member of the Global Partnership for Business and Biodiversity (GPBB) established under the Convention on Biological Diversity. For facilitating forums of dialogue with businesses, among Parties, Governments and other stakeholders, the Government of Sri Lanka has recognized BSL to play this role, as an independent, and autonomous platform. BSL has helped to establish National Business and Biodiversity Initiatives in Pakistan and Viet Nam. For increased collaboration between the state and the private sector, a Memorandum of Understanding (MoU) was signed with the Government of Sri Lanka (GoSL), through the Ministry of Environment, to use combined advantages for enhancing biodiversity conservation and sustainable development in the country.

Members and priority benefits

The membership of BSL is open to Sri Lanka-based businesses ranging from national to multinational companies, as well as small and medium enterprises. Currently, 40 leading corporates – all with high standards of environmental custodianship have backed BSL by becoming its invited Patron Members. BSL has also 38 General Members and its SME Members are growing. The United Nations Development Programme, the German Development Co-operation (GIZ) and the International Water Management Institute (IWMI) are Associate Members.

Membership benefits include access to a comprehensive technical database carrying information on expertise available in conservation related fields, priority seating in events hosted by the BSL Academy in which best practices are disseminated, use of an Online Project Bank setting out project ideas and recognition to resource efficiency pledges, A Biodiversity Projects Ranking Scheme awards Star Ranks and exclusive use of a dedicated logo aiding companies to improve the design and implementation of biodiversity conservation-related projects. An online repository www.lifecommitment.lk, maintains information on private sector contributions towards multiple national and international biodiversity commitments, assessing also hitherto unavailable financial investments made towards these initiatives over a determined period.

Awarding genuine efforts towards biodiversity conservation

In recognition of the positive work being carried out by companies, the ACCA and BSL collaborated in offering a joint award for excellence in environmental/biodiversity project implementation. Recognizing its relevance to current needs of the current job market, BSL provides technical assistance to the Department of Zoology and Environment Sciences, University of Colombo in the Honours Degree in Business & Environment, connecting the students and enabling industrial placements with eminent partners representing leading corporate entities in Sri Lanka.

Encouraging Public-private-community partnerships

Working with its members on public private community partnerships has been an integral part of BSL’s work. Joining hands with the Forest Department, IUCN Sri Lanka, and Patron Member – HSBC, BSL worked to conserve the Puwakpitiya Oya, to serve as a replicable model for mini watershed conservation and management. Through a science-driven, community-centric approach, the initiative resulted in substantial improvements in ecological functions, and improved living standards. Methodology, results, and best practices are documented for use in longer-term planning and learning. Together with contributions to SDGs and to national biodiversity priorities.

Tools for restoration

BSL’’s flagship project “LIFE” carried out in partnership with the Forest Department, IUCN Sri Lanka and eleven member companies, has developed a forest restoration plan for a degraded block within the Kanneliya Forest Reserve, restoring connectivity using scientific principles. Enhancement of habitat quality, species diversity and increased biodiversity and ecosystem services are monitored. As a first for Sri Lanka, working with experts both locally and internationally, a Biodiversity Credit Accrual System is being designed with the objective of assigning a unit value for enhanced biodiversity and ecosystem services, in par with international requirements and standards. The aim of the project is to support the development of policies and tools to utilize accrued credits sustainably.

Tackling the plastic menace

According to the Marine Environment Protection Authority of Sri Lanka, the country dumps 1 billion pounds of plastic and polythene a year and 4 million polythene bags alone each day. BSL together with the Ceylon Chamber of Commerce developed an Extended Producer Responsibility (EPR) Roadmap to minimize plastic loadings into the coastal and marine environment. Building the capacity of stakeholders, to accelerate plastic waste management, using a participatory approach was an integral part of this initiative. To maximize sustainable utilization of our beaches, BSL’s Life to our Beaches campaign takes measures to keep our beaches clean and free of hazards allowing for public movement and recreation.

Publications

For showcasing hidden best practices in environmental conservation, initiated by the plantations and tourism sectors, two BSL publications enhance awareness and provides learning opportunities to others in the industry, on the benefits and value of engaging in environmental conservation efforts and in the enhancement of biodiversity. These are available for sale in leading bookshops.

Biodiversity Sri Lanka aims to assist the private sector to make a paradigm shift in efforts to place true and realistic values on Sri Lanka’s natural heritage, setting and then reaching new ambitious targets to value and conserve the fundamental riches of the life support systems and the wildlife and people that depend upon them.

A Board of Directors consisting of a permanent representative each from the three Initiating Partners and two representatives each from the Patron and General Members, together directs the activities of BSL. The board consist of Dilhan C. Fernando, Board Chair, Representative- Initiating Partner, Trustee, Dilmah Conservation Mr. Chandrarathne Vithanage, Representative – Initiating Partner, Senior Assistant Secretary General Ceylon Chamber of Commerce. Dr. Ananda Mallawatantri, Representative – Initiating Partner, Country Representative, International Union for Conservation of Nature. Mr. Mahesh Nanayakkara, Representative – Patron Members, Chief Executive Officer, Citizens’ Development Business Finance PLC. Mr. Nandana Ekanayake, Representative Patron Members, Chairman, Siam. Mr. Shahid Mohomed Sangani, Representative, General Members – Director – Dynawash Ltd. Mr. Subramaniam Eassuwaren, Representative General Members – Deputy Chairman, Eswaran Brothers, Exports (Pvt.) Ltd. Mr. Anura Dissanayake, Expert in Business, Sustainability and the Environment / Secretary, Ministry of Irrigation and Former Secretary Ministry of Mahaweli Development and Environment. Mr. Prema Cooray, Chief Executive Officer, Chairman, Rainforest Ecolodge (Pvt.) Ltd.



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SEC Sri Lanka eases Minimum Public Holding Rules for listings via introductions to boost market flexibility

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The Securities and Exchange Commission of Sri Lanka (SEC) has approved amendments to the Colombo Stock Exchange (CSE) Listing Rules to provide greater flexibility regarding the Minimum Public Holding (MPH) requirement for companies listing through the Introduction method.

These revisions were proposed and deliberated under Project 6 – New Listings (Public and Private), one of 12 key strategic initiatives launched by the SEC to strengthen Sri Lanka’s capital market framework. Project 6 aims to drive national capital formation, promote listings by highlighting benefits and opportunities for listed entities, and attract large-scale corporates to enhance market depth, liquidity, and investor confidence.

The amendments reflect a joint effort by the SEC and CSE, underscoring strong collaboration between the regulator and the Exchange to address evolving market needs while maintaining market integrity, transparency, and investor protection.

The salient features of the amendments to the CSE listing Rules are as follows;

Entities seeking listing by way of an Introduction on the Main Board or Diri Savi Board that are unable to meet the MPH requirement at the time of submitting the initial listing application, may now be granted a listing, subject to certain conditions on compliance.

Non-public shareholders who have held their shares for a minimum period of eighteen months prior to the date of the initial listing application may divest up to a maximum 2% of their shares each month during the six months commencing from the date of listing, and simultaneously, be subject to a lock-in requirement of 30% of their respective shareholdings as at the date of listing, until MPH compliance or 18 months from the date of listing, whichever occurs first.

A phased MPH compliance framework has been introduced requiring a minimum 50% compliance with MPH requirement within 12 months and full compliance within 18 months from the date of listing.

Entities should include clear disclosures in the Introductory Document confirming their obligation to meet MPH requirements within the prescribed timelines.

In the event of non-compliance with the MPH requirement, certain enforcement actions have also been introduced.

The revised framework is expected to encourage more companies to consider listing via Introduction, thereby broadening market participation, improving liquidity, and contributing to the overall development of Sri Lanka’s capital market. Issuers, investors, and market intermediaries will benefit from a more enabling yet well-regulated listing environment.

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Manufacturing counters propel share market to positive territory

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Stock market activities were positive yesterday, mainly driven by manufacturing sector counters, especially Sierra Cables, Royal Ceramics and ACL Cables. Further, there was some investor confidence in construction sector counters as well.

Amid those developments both indices moved upwards. The All Share Price Index went up by 150.54 points, while the S and P SL20 rose by 41.5 points. Turnover stood at Rs 4.65 billion with six crossings.

Those crossings were reported in Royal Ceramics which crossed 3.8 million shares to the tune of Rs 174.3 million; its share s traded at Rs 45.20, VallibelOne 1.4 million shares crossed to the tune of Rs 138.6 million; its shares traded at Rs 99, Melstacorp 500,000 shares crossed for Rs 87.24 million; its shares traded at Rs 174.50, Sierra Cables two million shares crossed for Rs 68.2 million, its shares sold at Rs 34.30, Kingsbury 1.5 million shares crossed for Rs 31.8 million; its shares traded at Rs 21.20.

In the retail market companies that mainly contributed to the turnover were; Sierra Cables Rs 418 million (20 million shares traded), Royal Ceramics Rs 363 million (eight million shares traded), Colombo Dockyards Rs 323 million (1.7 million shares traded), ACL Rs 311 million (3.5 million shares traded), Renuka Agri Rs 149 million (12.3 million shares traded), Sampath Bank Rs 94.7 million (648,000 shares traded) and Bogala Graphite Rs 86.4 million (529,000 shares traded). During the day 122.8 million shares volumes changed hands in 34453 transactions.

Yesterday the rupee opened at Rs 310.00/25 to the US dollar in the spot market, weaker from Rs 310.00/310.20 the previous day, dealers said, while bond yields were broadly steady.

By Hiran H Senewiratne

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Atlas ‘Paata Lowak Dinana Hetak’ celebrates emerging artists nationwide

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Atlas, Sri Lanka’s leading learning brand, reaffirmed its purpose of making learning fun and enjoyable through the Atlas All-Island Art Competition 2025, which concluded with a gifting ceremony held recently at Arcade Independence Square under the theme ‘Atlas paata lowak dinana hetak’. Students from Preschool to Grade 11 showcased their talents across five categories, with all island winners receiving cash prizes, certificates, and gift packs. Additionally, merit winners in each category were also recognized. The event brought together students, parents, and educators, highlighting Sri Lanka’s cultural diversity, nurturing young talent, and reinforcing Atlas’s long-standing commitment to education, creativity, and building confidence among schoolchildren. The event concluded with the ‘Atlas Art Carnival’, which brought children and parents together through games and creative art activities in a fun and lively atmosphere.

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