Business
Triple Crown winner Halgolla Estate highlights need for environment-friendly businesses
By Ifham Nizam
Halgolla Estate, a subsidiary of Kelani Valley Plantations (KVPL) recently announced the historic achievement of a Triple Crown of world firsts at a gathering bringing together local and global stakeholders in the plantations industry. Among other things, the event highlighted the need for environment-friendly business enterprise.
The Triple Crown consisted of these titles; ‘World’s first tea estate to receive the Regenerative Agriculture certification’, ‘World’s first intellectual tourism concept’ and the ‘World’s first tea estate to establish a biodiversity conservation center’.
Chief Guest Dutch ambassador Bonnie Horbach stressed the pressing need for proactive measures in combating climate change, emphasizing the tangible impacts already being felt across the globe.
With recent weather anomalies serving as poignant reminders of the urgency of the situation, the ambassador called for visionary leadership and collective action to address this existential threat.
Highlighting the Halgolla Estate’s pivotal role in the sustainability journey, she lauded the collaborative efforts that led to the successful implementation of the agroforestry project. She added: ‘This initiative, initiated in partnership with the Dutch embassy and other organizations, serves as a shining example of how integration of environmental concerns into business practices can yield remarkable results.’
The crowning achievement of the day came with the announcement of ‘Regenagri’ certification for the Halgolla Estate, making it the first tea estate globally to receive this prestigious recognition. This certification, which reflects a commitment to regenerative agriculture practices, signifies a paradigm shift in the way tea is produced, consumed, and perceived on the global stage.
Commenting on Halgolla Estate’s landmark achievements, Hayleys chairman and Chief Executive Officer Mohan Pandithage said: “We are incredibly honored to count such an exemplary estate among our ranks. Halgolla Estate has been steadfast in upholding its values, and their recognition among the world’s best is well deserved. They are a beacon of innovation and sustainability, setting a model for the entire sector and representing the future of the plantations industry locally, regionally, and globally.”
“The model of sustainability that Halgolla Estate has created is a prime example of the potential of plantations estates in the country. With the country’s renewed vigour towards tourism, combined with Hayleys focus towards value addition, Halgolla is leading the way for what we envision the future of plantations to be, said Hayleys Plantations Managing Director Dr. Roshan Rajadurai.
Anuruddha Thiththagalla Gamage,General Manager- HR & Corporate Sustainability Kelani Valley Plantations PLC, speaking to The Island Financial Review said that their achievement underscores their commitment to sustainability and leadership within the tea industry. ‘It demonstrates that responsible land management and regenerative practices can coexist with successful tea production. Halgolla serves as a beacon, inspiring others to adopt these methods and contribute to a more sustainable future for agriculture, he said.
Halgolla Estate, located in Yatiyantota in Kegalle district, is a unique estate which boasts rich biodiversity, documented through long-term research by the International Union for Conservation of Nature (IUCN) since 2009.
He added: “We regularly assess this biodiversity and monitor the health of the environment, including rich catchment areas for major rivers, natural forests within the plantation landscape, and a mix of crop varieties with forest reservations. To witness with evidence, referring to the recent scientific data and research findings, approximately 90% endemic bird species identified within plantation landscape of KVPL and more importantly about 85% of endemic bird species can be identified in Halgolla.”
“Of the 251 floral species and 310 faunal species identified from research by IUCN- SL, approximately 36% and 39 % are endemic species, respectively. There is a lot more scientific evidence on threatened, critically endangered floral and faunal species found within a landscape of a 200 ft to 3500 ft elevation which is a unique feature to explain the rich biodiversity of Halgolla.”
He also said that Analysing the sensitivity and criticality of the environment and rich biodiversity at Halgolla and thinking beyond the traditional tourism often focuses on relaxation and scenic beauty, we have brainstormed an innovative, a new approach:
“We as KVPL, would wish to announce the world’s first ‘intellectual tourism’ Project at Halgolla Estate. This innovative model goes beyond sightseeing, offering visitors a unique opportunity to delve deeper into the fascinating world of conservation and biodiversity.”
Senior Policy Advisor-Agriculture, embassy of the Kingdom of the Netherlands – Sri Lanka, Nishan Dissanayake told The Island Financial Review that regenerative agriculture prioritizes environmental health and sustainability over high yielding mono cropping agriculture. “This is therefore a different value chain. This is not the traditional tea value chain. The main challenge for these emerging eco based value chains is under-developed markets. And lack of market connections due to poorly developed policies, he said.
‘Fortunately, I see that EU has taken many measures to tackle these issues and the EU market is becoming an attractive market for these environmentally value added products. In December 2023, EU legislators reached a provisional deal on the Corporate Sustainability Due Diligence Directive (CSDDD). This law require large businesses to identify and address their impacts on people and planet. There is a process to follow to ensure human rights and environmental due diligence. This is the most ambitious legislation in the world so far to oblige bigger companies, both inside and outside of the EU, to take responsibility for the impact of their activities on human rights and the environment. Ultimately, this law will create and facilitate the market in the EU for the products produced in environmentally sustainable ways, Dissanayake said.
Business
Rs. 1 million fine proposed on substandard plastic producers
The government’s proposal to raise fines on manufacturers of substandard plastic products to as much as Rs. 1 million is expected to trigger a major compliance shift within Sri Lanka’s plastics industry, correcting long-standing market distortions caused by weak enforcement.
Environment Deputy Minister Anton Jayakody said the move targets producers who continue to bypass approved standards, undercutting compliant manufacturers and exacerbating environmental damage.
Environment Ministry Advisor Dr. Ravindra Kariyawasam said the initiative represents a structural market correction rather than a purely environmental intervention.
“Non-compliant producers have enjoyed an artificial cost advantage for years, distorting pricing and discouraging legitimate investment,” Kariyawasam told The Island Financial Review. “Meaningful penalties are essential to restore fairness and industry discipline.”
He said the widespread circulation of low-grade plastic products has eroded consumer confidence and delayed the sector’s transition towards higher-value and sustainable manufacturing.
Industry analysts note that a Rs. 1 million fine would significantly alter risk calculations for marginal operators, forcing upgrades in machinery, testing and compliance or pushing weaker players out of the market.
Kariyawasam stressed that the policy is intended to support responsible businesses rather than suppress industry growth.
“Manufacturers investing in recycling, biodegradable alternatives and quality assurance should not be penalised by competing with environmentally damaging, low-cost products,” he said.
The Deputy Minister indicated that tighter enforcement will be paired with policy support for sustainable packaging and circular-economy initiatives, aligning the sector with emerging global trade and environmental standards.
From a business perspective, the proposed regulation is likely to impact pricing, supply chains and capital investment decisions, while improving the long-term credibility of Sri Lanka’s plastics industry in both domestic and export markets.
By Ifham Nizam
Business
First Capital to unveil Sri Lanka’s Economic Outlook and Investment Strategies for 2026
First Capital Holdings PLC (the Group), a subsidiary of JXG (Janashakthi Group) and a pioneering force in Sri Lanka’s investment landscape, is set to host the 12th edition of its renowned ‘First Capital Investor Symposium’ on 22 January 2026 at Cinnamon Life Colombo, starting from 5.30 pm onwards.
The 12th Edition will focus on Sri Lanka’s Economic Outlook for 2026, offering attendees a comprehensive analysis of market forecasts, investment strategies and emerging opportunities in the capital markets. The symposium serves as a crucial gathering for investors seeking insights to navigate the evolving economic landscape and make sound, strategic decisions.
As a leading investment institution, First Capital remains committed to promoting informed decision-making through comprehensive research and market analysis. By hosting this annual symposium, the organisation reinforces its role as a trusted partner in Sri Lanka’s capital markets, providing a premier platform for investors, professionals, and industry leaders to exchange knowledge, explore opportunities and build meaningful connections.
A key highlight of this year’s agenda will be First Capital’s presentation on the Economic and Investment Outlook, outlining market conditions and investment strategies for the period ahead. The presentation will be delivered by Ranjan Ranatunga, Assistant Vice President – Research of First Capital Holdings PLC.
Business
Rivers, Rights, Resilience Forum 2026 begins in Colombo
Oxfam in Asia commenced the Rivers, Rights, Resilience Forum (RRRF) 2026, a three-day regional forum bringing together water experts, policymakers, civil society, researchers, and community leaders from across South Asia and beyond to strengthen cooperation on shared river systems and climate resilience.
The Forum is part of the Transboundary Rivers of South Asia (TROSA) programme, supported by the Government of Sweden, which works on the Ganges–Brahmaputra–Meghna (GBM) river basins, while also encouraging cross-basin learning at the regional and global levels. This year’s theme is “Building Resilient Communities and Ecosystems.” The Forum is co-organised by Oxfam in Asia and Dev Pro, Sri Lanka.
The forum opened with a welcome address by John Samuel, Regional Director, Oxfam in Asia, who highlighted the deep connection between rivers, politics, climate change, and sustainability. He underlined how rivers shape both environmental and social outcomes across South Asia and called for stronger collaboration between governments and civil society.
“Today building resilience is important in terms of climate and politics, and when civic space is shrinking, we should all work in solidarity,” he said.
Speaking at the Forum, Chamindry Saparamadu, Executive Director of DevPro shared examples of how communities in Sri Lanka have taken actions to ensure equitable access to water resources through catchment protection initiatives, community-based water societies etc. She further highlighted that learning exchanges would be useful to further strengthen inter-provincial water governance in Sri Lanka.
The Chief Guest, Syeda Rizwana Hasan, Advisor, Ministry of Environment, Forest and Climate Change and Ministry of Water Resources, Bangladesh, in her video message, emphasised the need for regional cooperation among South Asian countries beyond the upstream–downstream identity.
“Climate change will make water scarce, so South Asian countries have to come together to work on the common interest of their communities. Rivers are not just ecology but economics as well for communities. Forums like this help us to share our experience and learn from each other,” she said.
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