Business

Colombo Stock Exchange introduces GSS+ Bonds to the Sri Lankan capital market

Published

1 year ago

2025/05/3

In line with a broader, more inclusive approach and in alignment with evolving global standards, the Colombo Stock Exchange (CSE) announces the launch of the GSS+ Bonds Regulatory Framework, effective March 2025. This marks the first comprehensive regulatory framework in Sri Lanka dedicated to thematic bonds.

Under this initiative, the term “Sustainability Bonds” in the CSE Listing Rules has been replaced with “GSS+ Bonds”, which now encompasses Green, Blue, Social, Sustainability, and other related bond types, including Sustainability-Linked Bonds.

Social Bonds are fixed-income instruments where proceeds are exclusively allocated to finance or refinance projects aimed at addressing social challenges and generating positive social outcomes—such as improved access to essential services, affordable housing, education, healthcare, and employment opportunities. The global Social Bond market has seen significant growth in recent years, driven by rising investor interest in fostering inclusive and sustainable development.

In a significant development, the requirements for issuing GSS+ Bonds are now fully aligned with the guidelines of the International Capital Market Association (ICMA). This alignment ensures consistency with globally accepted practices and enhances the credibility and transparency of the sustainable finance instruments listed on the CSE.

The verification framework has also been enhanced. In addition to the previously accepted forms of assurance and impact reporting, issuers may now utilize enhanced methods such as Second Party Opinion and Certification, providing additional layers of investor confidence and credibility.

These rule enhancements were made possible through the collaborative efforts of the Asian Development Bank (ADB) and the Securities and Exchange Commission (SEC) of Sri Lanka, underscoring the commitment of all stakeholders to elevate Sri Lanka’s sustainable finance landscape to meet international best practices.

The primary objective of this initiative is to enable capital raising for projects with measurable environmental and social impact, while also offering investors the opportunity to align their investment strategies with Environmental, Social, and Governance (ESG) principles.

The introduction of GSS+ offers wide-ranging benefits. For issuers, it opens access to a new pool of capital dedicated to funding projects with positive social outcomes. Investors gain an opportunity to diversify their portfolios with instruments that deliver both financial and social returns. At a broader level, the initiative supports responsible capital allocation and contributes to key national development priorities such as poverty alleviation, gender equality, access to healthcare, and inclusive education.

Commenting on the launch, . Rajeeva Bandaranaike, Chief Executive Officer of the Colombo Stock Exchange, stated, “The introduction of GSS+ to the Sri Lankan capital market represents a significant step in our journey towards promoting sustainable finance. This initiative not only expands the suite of sustainable investment products available in the market but also empowers issuers to raise funds for socially impactful projects that can make a lasting difference in our communities.”

“We are proud to support this important development, which reflects our ongoing commitment to align capital market infrastructure with global best practices and to play an active role in Sri Lanka’s sustainable economic growth.”

The CSE remains committed to advancing ESG-aligned initiatives and providing market participants with robust frameworks for sustainability-oriented investments. The introduction of GSS+ Bonds reinforces the CSE’s role in facilitating financial innovation that contributes meaningfully to national and global development goals.

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Business

ADB approves $100 million loan to boost skills development and jobs for youth in Sri Lanka

Published

13 hours ago

2026/10/2

Thilina Walpola

The Asian Development Bank (ADB) has approved a $100 million results-based loan to help Sri Lanka transform its technical and vocational education and training (TVET) system, equip more young people with industry-relevant skills, and strengthen the country’s competitiveness and inclusive growth.

The Skills Development System Transformation Program will support the Government of Sri Lanka’s efforts in improving the quality and relevance of skills training, strengthening links between training providers and industries, and expanding employment opportunities for youth. The program will increase women’s employment opportunities in nontraditional jobs in fields including automotive technology, engineering, information and communications technology, construction, and renewable energy.

“A skilled workforce is essential to Sri Lanka’s long-term economic transformation and competitiveness,” said ADB Country Director for Sri Lanka Shannon Cowlin. “This program will help create stronger pathways from education to employment by making training more responsive to industry needs, expanding opportunities for young people and women, and ensuring that graduates have the skills required by a modern and evolving economy.”

Though Sri Lanka’s economy is recovering, it faces skills shortages in priority sectors, high youth unemployment, and low female labor force participation. Many employers report difficulty finding workers with the skills needed in a changing economy.

Aligned with the Government of Sri Lanka’s Technical and Vocational Education and Training Sector Strategic Framework 2026–2035, the nationwide program will be implemented from 2027 to 2031 and is expected to directly benefit more than 100,000 young people through improved access to quality, employment-oriented training.

Business

USD 40.84m pipeline to secure aviation fuel supplies to BIA

Published

13 hours ago

2026/10/2

Thilina Walpola

By Ifham Nizam

The government has cleared a USD 40.84 million and Rs. 8,548.75 million contract to build a dedicated aviation fuel pipeline from Muthurajawela to Bandaranaike International Airport (BIA), alongside a massive new fuel storage facility with a capacity of 92,000 cubic metres.

Energy Minister Anura Karunatilaka said the project represented a major investment in strengthening the infrastructure underpinning Sri Lanka’s aviation fuel supply and ensuring more reliable fuel availability at the country’s main international airport.

‘This project will provide the infrastructure required to strengthen the reliability and continuity of aviation fuel supplies to Bandaranaike International Airport, Karunatilaka said.

The contract has been awarded to China Petroleum Pipeline Engineering Company Limited, following an international competitive procurement process in which three bids were received.

The project will see a new aviation fuel storage tank complex constructed at Muthurajawela, together with the associated infrastructure required for handling and transferring aviation fuel.

Business

CSE activity up, turnover weak at Rs. 1.4 billion

Published

13 hours ago

2026/10/2

Thilina Walpola

By Hiran H Senewiratne

Trading activity on the Colombo Stock Exchange (CSE) gathered pace yesterday as global fuel prices began to show signs of easing, according to market analysts.In this context, both indices moved upwards. All Share Price Index up by 67.97 points while S and P SL20 up by 8.30 points.

Turnover stood at Rs 1.4 billion with seven crossings. Those crossings were reported in Sampath Bank 1.7 million shares crossed to the tune of Rs 238 million and its share price traded at Rs 140, Access Engineering two million shares crossed to the tune of Rs 159 million and its share price traded at Rs 79.50, LOLC one million shares crossed to the tune of Rs 129 million and its share price traded at Rs 129, HNB 100,000 shares crossed to the tune of Rs 38.4 million and its share price traded at Rs 384, JKH 1.9 million shares crossed to the tune of Rs 35 million and its share price traded at Rs 18.60, Hayleys 100,000 shares crossed to the tune of Rs 22.50 million and its share price traded at Rs 225 and Richard Pieris 847,000 shares crossed to the tune of Rs 22 million and its share price traded at Rs 25.50.

In the retail market top seven companies that have mainly contributed to the turnover were Sampath Bank Rs 114 million (813,000 shares traded), JKH Rs 100 million (5.3 million shares traded) LB Finance Rs 49 million (325,000 shares traded), HNB Finance Rs 30 million (27 million shares traded), HNB Rs 27 million (70000 shares traded), NTB Rs 25 million (82000 shares traded ) and Lanka IOC Rs 21 million (666,000 shares traded). During the day 65 million shares volumes changed hands in 10433 transactions.

The Banking and manufacturing sector counters performed well. In the banking sector Sampath Bank let the market while manufacturing sector especially JKH also significantly performed well. With the fuel revision Land IOC also a significant stock at the floor.

Meanwhile, First Capital Treasuries said that Ramesh Schaffter resigned as a Non-Independent Non-Executive Director with effect from October 1, to facilitate the restructuring of the company’s board.

Yesterday the Central Bank announced the US Dollar rate as against rupee. The rupee was quoted flat at Rs 330.65/80 to the US dollar in the spot market , while bond yields dropped, dealers said.