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Resilience in the face of Climate Change

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Inception Workshop for the Climate Finance Network Project

Colombo, 16 July 2022: Sri Lanka is particularly susceptible to the negative impacts of climate change as a small island and developing nation. Recognising the importance of contributing towards a greener future, Sri Lanka updated its Nationally Determined Contributions (NDCs) pledging to achieve a carbon Net Zero status by 2050 and even more recently announced its Climate Prosperity Plan at the United Nations Climate Change Conference 2022 (COP27) to combat the threat of climate change.

In the aftermath of the COVID-19 pandemic, Sri Lanka has had to face unprecedented economic hardships with resources being diverted to address the immediate crisis. However, as a country dependent on natural resources for its economy and employment generation, increased climate externalities continue to impact the lives and livelihoods of the people and economy.

In line with addressing the difficulties in financing climate-related issues, the United Nations Development Programme in Sri Lanka (UNDP) has partnered with the Ministry of Environment and the Ministry of Finance to implement the Climate Finance Network (CFN) Project. The project is regionally initiated by UNDP and funded by the Foreign, Commonwealth & Development Office of the Government of the United Kingdom’s Climate Action for a Resilient Asia (CARA) initiative.

Speaking at the inception workshop of the project, Naseer Ahamed, Minister of Environment noted that “According to the assessment conducted by BIOFIN, Sri Lanka may face a 1.2 per cent loss of annual GDP by 2050 if measures are not taken to address climate change. Achieving these planned targets in climate change and transitioning towards a green, inclusive and balanced economy in Sri Lanka requires large investments from the financial sector which is an opportune moment for UNDP’s Climate Finance Network Project”.

Dr. Anil Jasinghe, Secretary to the Ministry of Environment stated, “With Sri Lanka being more susceptible to climate change, in 2020, we developed the Climate Change Policy which is currently being revised. The Climate Finance Network Project will strengthen the capacity to access finance and technology, and become the overarching project on climate financing. In order to do this, we must reform our financial mechanisms. In the context of the present economic crisis, we are thankful to UNDP for its support”

The project aims to address barriers in achieving the Sustainable Development Goals (SDGs) and NDC commitments, while enabling countries to effectively mobilize, manage, utilize and track the use of public finance and climate-aligned private investments to combat climate change effectively whilst promoting gender equality, human rights and poverty reduction to contribute to the implementation of the 2030 Agenda.

Malin Herwig, Officer-in-Charge, UNDP in Sri Lanka highlighted the importance of collective action, stating, “CFN seeks to create an enabling environment to access climate finance and institute innovative and sustainable financing mechanisms that not only work towards climate resilience – but also towards balanced and inclusive green growth. Indeed, CFN brings together many sectors, tying together the economy, environment and society in the way SDGs do. Seeing and working with this interconnectedness is vital for Sri Lanka.”

Speaking at the event, Andrew Price, Head of Prosperity Section, British High Commission in Sri Lanka noted, “We need to honour the pledges we made in Glasgow through the Glasgow Pact, so we can turn our struggle against climate change – there are countless recent examples that illustrate how countries are being hit hard by climate events. The children of Sri Lanka and the youth around the world deserve a greener planet and a more prosperous future.  We need to make it our mission to provide jobs for our children and deliver clean growth”.

The CFN Project will be focusing on 4 areas in Sri Lanka, namely climate change-aligned budgeting and planning; direct access to international climate change finance; transparency and accountability of climate change finance; and gender and social inclusion in climate change finance.

Ruwan Wijewardene, Presidential Advisor on Climate Change emphasized that “In order to achieve the best socio-economic outcomes, we must first be climate resilient. We are committed to increasing our renewable energy production from 35% to 75% by the end of this decade, as well as studying our potential for green hydrogen. We are thankful to UNDP, the UK government, UK Aid, and the Foreign and Commonwealth Office for conducting workshops, such as this, that help us learn and understand more about climate finance.”

Emphasising the importance of green financing, Gangatharan, Additional Director General (Agriculture & Environment, National Planning Department noted that, “The climate financing space affords issuers the ability to structure and negotiate products that best fit their needs. Today’s workshop enables the Treasury to validate two key matters of concern in managing and ensuring effective processes – namely, the institutional framework and their structure to access climate financing initiatives.”

This discussion was a stepping stone in supporting the implementation of Sri Lanka’s climate commitments and building a resilient future – enabling economies, the environment and people to prosper while adapting to climate change.



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SME representatives accuse presidential aide of instigating protest against Central Bank

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Susantha Liyanaarachchi

A presidential advisor, identified as D. Gamage, had asked a delegation representing the SME sector to “surround the Central Bank” instead of troubling officers at the Presidential Secretariat, Susantha Liyanaarachchi, Chairman of the National Construction Association of Sri Lanka (NCASL) told the media yesterday near the Presidential Secretariat.

Liyanaarachchi said so following a meeting with Gamage, on Friday, during a protest staged by a group of small- and medium-scale entrepreneurs, affiliated with the MSME Joint Alliance, outside the Presidential Secretariat against parate executions.

Five representatives were permitted to enter the Secretariat, where they also submitted a 17-point proposal aimed at reviving the domestic coconut oil industry.

“Gamage said there was no point in coming to the Presidential Secretariat. He asked us to surround the Central Bank. What an awful officer. We came here to settle our issues amicably, and Gamage told us to surround the Central Bank,” Liyanaarachchi said.

Liyanaarachchi also stated that the Central Bank did not adhere to instructions given by President Anura Kumara Dissanayake, exacerbating the concerns voiced by the MSME entrepreneurs.

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Govt. to seek new indictments in Lasantha murder case

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Harini

By Saman Indrajith

The government would try to initiate fresh indictments in the Lasantha Wickrematunga murder case, Prime Minister Harini Amarasuriya said on Friday, pledging that those responsible for the murder of journalist Wickrematunga would be held accountable. She also stated that she intended to respond personally to a letter from Wickrematunga’s daughter, Ahimsa, who has called on Parliament to impeach Attorney General Parinda Ransinghe (Jr.) over the recent release of three suspects.

Ahimsa Wickrematunga’s request for impeachment followed the release of several individuals—among them a police officer—who had been arrested on accusations of destroying evidence, including a notebook belonging to her father and key police records. Speaking in Parliament, Prime Minister Amarasuriya said, “I plan to respond directly to Ms Wickrematunga, as I fully understand her concerns and the distress she must be experiencing. We are doing our utmost to observe due process and uphold the independence of the Attorney General’s office, but justice must prevail.”

She went on to say, “We intend to seek justice for Lasantha Wickrematunga’s murder. President [Dissanayake] has met with those involved to determine the best course of action. We are examining the possibility of refiling or initiating new inquiries if necessary, as there is plenty of evidence.”

Opposition legislator Rauff Hakeem noted that the suspects were released on a technicality related to an identification parade, and expressed concern that the Attorney General was selectively releasing certain suspects, despite there being many dedicated officers within the Department. He added, “Ultimately, the purpose of all our judicial institutions is to deliver justice. If procedures obstruct that aim, we must re-examine them.”

Prime Minister Amarasuriya reiterated that the Government is open to debating the matter in Parliament, saying, “We will look at refiling charges or bringing new indictments where appropriate. We fully appreciate the gravity of this situation and the need for transparency, and we will do everything in our power to ensure justice is served.”

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Govt.’s planned buffer stock of rice a pipedream, say millers

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The private sector is purchasing paddy at prices higher than the government’s guaranteed rates, meaning the government will be unable to secure the planned buffer stock, according to the President of the All Ceylon Small and Medium Scale Mill Owners’ Association, U. K. Semasinghe. He made these remarks on Thursday during a talk show hosted by Hiru TV.

Semasinghe noted that although the government’s guaranteed price for Nadu was Rs 120 per kilo, the private sector paid Rs. 125. During the programme, the Hiru TV presenter mentioned that Dudley Sirisena, who owns Araliya Mills, had stated that if he purchased a kilogramme of paddy at Rs 120 rupees, he would have to sell a kilo of rice at Rs. 242.

However, Semasinghe explained that if small millers bought paddy at Rs 125 per kilogramme, they could sell a kilo of rice at Rs 225. He added: “In the coming two or three weeks, you will see rice produced by small and medium-scale millers available in the market at prices ranging from Rs 200 to Rs 205 per kilo.”

Meanwhile, former Director of Agriculture K.B. Gunaratne, who also participated in the show, commented that the NPP government lacked the experience, and therefore had failed to formulate an effective strategy to address the issue.

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