Business
ComBank’s Green Bond framework receives milestone SPO from Sustainable Fitch

The Commercial Bank of Ceylon has received a globally – recognised Second-Party Opinion (SPO) for the Bank’s Sustainable Bond Framework from Sustainable Fitch, the Fitch Solutions company that provides Environmental, Social and Governance (ESG) related ratings.
The SPO is a third-party validation aligned with the International Capital Markets Association (ICMA) Green Bond Principles 2021. Receipt of the SPO enables the Bank to raise finance for environmental and social projects, including those that support gender equity and equality.
Upon announcing and publishing the SPO, Sustainable Fitch said: “We consider transactions under the sustainable bond framework to be fully aligned with the ICMA Green Bond Principles 2021, Social Bond Principles 2023 and the Sustainability Bond Guidelines 2021. Our Second-Party Opinion is that the alignment is ‘Good’.”
Sustainable Fitch has been included in the ICMA list of External Reviewers, a worldwide credential, as ICMA Guidance and Principles are a recognised global market standard.
Commenting on the SPO received for the Bank’s sustainable bond framework, Commercial Bank Managing Director/CEO Sanath Manatunge said: “Our focus on sustainability now encompasses virtually every operational aspect, and the issuance of a Sustainable Bond will mark the next milestone in the Bank’s journey towards sustainability. We are pleased to be equipped with an internationally-validated bond framework for this purpose and are grateful to GGGI and Sustainable Fitch for their assistance and contribution to our sustainability roadmap.”
The first of its kind by a Sri Lankan bank, Commercial Bank’s sustainable bond framework was developed with the technical assistance of the Global Green Growth Institute (GGGI) under a Sustainable Finance Cooperation Memorandum of Understanding signed by two institutions. The GGGI, an international inter-governmental organization, provided technical advisory services on sustainable finance. This ensured that Commercial Bank’s sustainable bond framework adheres to the International Capital Market Association’s green, social, and sustainable bond principles. This partnership was funded by the government of the Grand Duchy of Luxembourg through the GGGI Global Trust Fund on Sustainable Finance Instruments (GTF). Launched in 2023, this program aims to bridge sustainable financing gaps by leveraging investments through capital markets in developing countries to fund low-carbon investments and projects that support vulnerable populations.
Eligible green projects under Commercial Bank’s framework include renewable energy; green buildings; clean transportation; environmentally sustainable management of living resources and land use; sustainable water and waste water management; climate change adaptation; energy efficiency; pollution prevention and control; and circular-economy-adapted products, production technologies and processes.
Eligible social projects include affordable basic infrastructure, access to essential services, assistance for housing needs, employment generation and unemployment alleviation, and food security and sustainable food systems. Social projects are targeted at low- to moderate-income individuals and families.
Business
SIA warns of 1,000 SME collapses, urges fair policies to protect Sri Lanka’s rooftop solar sector

By Sanath Nanayakkare
The Solar Industries Association (SIA), representing over 1,000 companies and employing 40,000 workers in Sri Lanka’s rooftop solar sector, issued a stern warning recently regarding threats to the industry’s survival and the nation’s renewable energy ambitions. The association condemned recent regulatory instability and called for urgent policy reforms to avert economic and social crises.
The SIA categorically rejected the Ceylon Electricity Board’s (CEB) claim that rooftop solar installations caused the recent island-wide power outage, calling the accusation “baseless and misleading.”
“Public trust is eroded when accountability is misdirected,” the SIA stated. “We demand an independent, transparent investigation led by experts appointed by the Ministry or the Public Utilities Commission (PUCSL). The CEB’s unilateral statements disregard the sector’s contributions and jeopardize Sri Lanka’s renewable energy transition,” they said.
“While acknowledging the formation of a tariff determination committee, the SIA criticized its narrow focus on financial parameters, ignoring the sector’s socioeconomic value. Rooftop solar empowers businesses and households with energy independence, reduces grid strain, and supports climate goals. However, proposed volatile tariff structures risk destabilizing over 100,000 installations—primarily owned by middle-class families—and deter future investment,” they noted.
“A rigid, equation-based tariff system is unsustainable,” the association warned. “Sri Lanka needs a stable policy framework to attract long-term investments. For instance, retirees could invest EPF savings into solar projects, securing income while advancing national energy targets. Without urgent action, 1,000 SMEs and 40,000 jobs face collapse, with dire consequences for employment, energy security, and economic stability,” they pointed out.
SIA urged policymakers to establish an independent committee to investigate the power outage fairly, expand the tariff committee’s mandate to include socioeconomic and environmental benefits and implement predictable policies to safeguard SMEs, households, and investor confidence.
“Sri Lanka stands at a crossroads,” the SIA emphasized. “Protecting rooftop solar isn’t just about energy—it’s about livelihoods, economic resilience, and a sustainable future. We urge stakeholders to collaborate on solutions that prioritize both people and progress,: they emphasized.
Business
Sri Lanka makes outstanding appearance at OTM and SATTE 2025 in India

Starting its promotional work for 2025, Sri Lanka Tourism Promotion Bureau (SLTPB) added another feather into its cap of endorsements, by being recognized as the most innovative Tourism Board promotion in Outbound Travel Mart (OTM) . In parallel to that, several other sub events were held. The OTM was held in Jio World Convention Centre, Mumbai—India, from 30th January to 01st February 2025.Before OTM, the Global Village – Global Exchange & Trade Exhibition was held at the Surat International Exhibition & Convention Centre , Sarsana, Surat (Gujarat – India , from 25th to 27th January 2025. This travel fair was organized by Southern Gujarat Chamber of Commerce and Industry (SGCCI).
Sri Lanka participated in both OTM and South Asia’s Travel & Tourism Exchange (SATTE), held from 19th – 21st Feb 2025, in New Delhi, India . This was an excellent opportunity for Sri Lanka to promote it’s potential as a unique travel destination, especially for the Indian counterparts, as SLTPB has identified India as the number one source market for Sri Lanka, tourism bringing the largest number of tourist arrivals to the destination.
Business
SLT-MOBITEL partners with the Rush Lanka Group to power its apartment portfolio

SLT-MOBITEL has entered into a strategic partnership with Rush Lanka Group to provide exclusive SLT-MOBITEL Fibre connectivity solutions to their portfolio of luxury apartment developments in Colombo and the suburbs, enhancing the digital experience of all residents.
The agreement was signed between Imantha Wijekoon, Chief Business Officer of Consumer Business at SLT, and Zaid Ariff, Director of Construction at the Rush Group headquarters. Representatives from both companies also attended the ceremony.
Under the partnership, SLT-MOBITEL will serve as the exclusive digital service provider for five prestigious Rush Lanka developments including Street Rush Residencies and Rush Court 4 in Mt. Lavinia, Rush Tower 2, Rush Metropolis in Dehiwala, and Rush Court 5 in Colombo 14. The collaboration ensures residents will enjoy superior fibre connectivity speeds, enabling seamless digital experiences in modern smart homes. The partnership with the Rush Lanka Group aligns with SLT-MOBITEL’s commitment to offer ultra-fast, reliable connectivity solutions to residential developments. Delivering exclusive fibre connectivity to luxury apartments, SLT-MOBITEL ensures residents have access to world-class digital services that complement the living experience promised by Rush Lanka Group.
Powered by advanced fibre technology, SLT-MOBITEL network will provide the residences with seamless performance across digital activities. The SLT-MOBITEL Fibre backbone ensures lag-free experiences whether tenants are gaming online, attending virtual classes, working remotely, or streaming high-definition entertainment. SLT-MOBITEL Fibre will transform the lifestyles of all apartment users bringing greater convenience and superior quality of life.
Rush Lanka Group, established in 1992, is a property developer specializing in luxury and semi-luxury apartments.
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