Business
Sri Lanka to benefit from Blue Climate Fund
Japan’s Sojitz Corporation and Nippon Trading East have pledged to start a Blue Climate Fund to be implemented by Worldview International Foundation (WIF) and its community partners in Asia, Africa and Middle East.
Large Japanese corporations in the lead are making Sri Lanka a primary investment target in this initiative.
The initial capital of USD 25 million will be increased according to the needs. The fund targets support planting of 25,000 hectares of mangroves in Sri Lanka in partnership with Supreme Global Holdings Ltd.
Omar Qandeel of Nippon Trading Est. and Sojitz Corporation of Japan launched the Blue Carbon Fund by signing an MOU with WIF recently in support of the UN Climate Agreement and the UN Sustainable Goals.
The fund’s first investment will be in Sri Lanka in partnership with Supreme Global Holdings who will disburse the funds and execute the
project through its wholly own subsidiary ‘Mangrove Conservation & Restoration (Pvt) Ltd.
It is a dedicated impact investment fund to focus on mangrove restoration and conservation, in addition to blue carbon sea grass conservation and seaweed planting and harvesting for maximum climate impact.
The fund plans to grow with multiple jurisdictions thus catering to mitigate global climate change through the development of Blue Carbon in support of the UN Paris Climate Agreement and UN Sustainable Development Goals.
‘This is inspiring news for millions of people around the globe, says Dr. Arne Fjortoft, Secretary General of WIF.
“During the last 12 years, WIF has developed and implemented large mangrove restoration projects with record high 96% survival rate of plants. Mangroves are the most effective natural climate change mitigators. Additional resources available in 2022 by Japanese corporations, will be available to expand further to every region of the world with potential for mangrove restoration to meet urgent needs with immediate climate action.”
Dr. Arne Fjorsoft is a well known name for climate initiatives and has contributed to the Sri Lankan economy for the past many decades starting from establishing the ‘C-Nor’ Foundation. He has already established over 120,000 Hectares of mangroves in Myanmar and is now expanding aggressively in the region starting with Sri Lanka.
Sojitz Corporation is an integrated global trading company with an approximate revenue of $15 billion. Headquartered in Tokyo, Sojitz Corporation consists of some 400 subsidiaries and affiliates located in Japan and throughout the world. Developing wide-ranging general trading company operations in a multitude of countries and regions with over 20,000 employees, Sojitz Group has established new policies and targets to fulfil its commitment towards realizing a decarbonized society.
As announced in Sojitz’s long-term sustainability vision for 2050,
“Sustainability Challenge is to create sustainable growth for both Sojitz and society by working to help achieve a decarbonized society through our business activities, and by responding to human right issues, including those within our supply chains,” says Sojit Corporation in its corporate statement.
Business
JAT Holdings celebrates the 6th Pintharu Abhiman Convocation, uplifting over 800 painters through NVQ certification
JAT Holdings PLC marked a significant milestone with the successful conclusion of the 6th JAT Pintharu Abhiman Convocation, recognising more than 800 painters who have earned their NVQ Level 3 qualification, an internationally recognised professional certification delivered in partnership with the National Apprentice and Industrial Training Authority (NAITA).
JAT Pintharu Abhiman was established to uplift Sri Lanka’s painter community through structured skills development, professional recognition and stronger earning potential. This year’s graduating cohort reflects the programme’s expanding reach and the tangible changes it continues to deliver for individuals, families and communities.JAT in collaboration with NAITA has streamlined the certification process such that what would traditionally take up to six months has been refined into an efficient and high-impact three-day assessment model. This approach ensures painters can obtain their qualification without sacrificing extended periods of work, while JAT fully absorbs the certification cost, removing financial barriers and enabling wider access to formal recognition.
Research conducted amongst NVQ qualified participants shows meaningful improvements in livelihoods, with 90 percent reporting increased personal confidence and 76 percent noting an improvement in their overall standard of living. This uplift demonstrates the long-term value of industry-aligned professional training.
A noteworthy moment at this year’s convocation was the recognition of four female painters who received their NVQ certifications. Their achievement marks an important step in broadening female participation in a field that has historically been male dominated, reinforcing JAT Holdings’ commitment to creating inclusive pathways for technical development and sustainable employment.
Speaking at the ceremony, Mr. Wasantha Gunaratne, Director Sales and Technical (South Asia) of JAT Holdings PLC, said:
“Pintharu Abhiman is fundamentally about development, giving painters the knowledge, structure and recognition they need to progress in their careers. By equipping over 800 painters with an internationally recognised NVQ qualification, we are not only strengthening the technical standards of the industry but also creating real pathways for entrepreneurship and financial independence. It is especially encouraging to see that one in five certified painters have already begun building their own businesses. These are the outcomes that matter because they show that when we invest in skills, we unlock opportunity. JAT remains committed to expanding these avenues so every painter has the chance to grow, lead and build a sustainable future.”
The 6th JAT Pintharu Abhiman Convocation underscores JAT’s continued dedication to uplifting the painter community, enhancing industry standards and supporting national skills development through accessible, professionally recognised qualifications.
Business
Industry bodies flag gaps in Draft National Electricity Policy
The Ceylon Chamber of Commerce, together with the American Chamber of Commerce, Exporters Association of Sri Lanka, Federation of Renewable Energy Developers, Joint Apparel Association Forum, National Chamber of Commerce of Sri Lanka and Sri Lanka Association for Software and Services Companies, has submitted joint observations on the Draft National Electricity Policy, highlighting that several key issues have not been adequately addressed.
Whilst recognizing the need for reform in the electricity sector, the submission flags several gaps in the draft policy that require closer attention. Key areas such as affordability, decarbonisation commitments, incentives for renewable energy, competition, and the long-term financial health of the sector are either missing or not addressed in sufficient depth.
The proposed tariff revisions outlined in the draft energy policy raise concerns, particularly regarding the removal of cross-subsidies and the proposal to restrict subsidies exclusively to households consuming less than 30 kWh per month. Without detailed analysis, these measures could weaken access to sustainable and affordable energy and potentially lead to fiscal risks.
The provisions allowing uncompensated curtailment, removing feed-in tariffs, and imposing mandatory time-of-use tariffs on rooftop solar users could make renewable energy projects un-bankable for international lenders, thereby increasing the cost of capital for Sri Lanka.
Calling for a more future-focused approach, the submission stresses the need for a policy that reflects modern electricity systems, including planning for the energy transition, energy storage, market competition, cross-border electricity trading, and emerging technologies.
The Chambers and Associations request a comprehensive revision of the Draft National Electricity Policy, alignment with the Electricity Act, and resubmission following substantive consultation, and reiterate support to engage constructively with policymakers to shape a policy that supports affordability, investment confidence, and Sri Lanka’s long-term energy security.
Business
Bank of Ceylon partners with 36th APB Sri Lanka Convention
Bank of Ceylon (BOC) partnered with the 36th Annual Convention of the Association of Professional Bankers (APB) Sri Lanka, reaffirming its commitment to promoting professional excellence and knowledge sharing within the banking sector. The partnership was officially handed over by Sameera D. Liyanage, Chief Marketing Officer of Bank of Ceylon and M. R. N. Rohana Kumara, Deputy General Manager Business Revival Unit of Bank of Ceylon, reflecting BOC’s focus on empowering banking professionals and supporting the sustainable growth of Sri Lanka’s financial services industry.
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