Business

Value Network Ventures’ USD 4 mn carbon investment puts SL’s mangroves on global climate map

Published

3 months ago

2026/06/4

Founding fathers of the mangrove project.

At a time when Sri Lanka was grappling with economic uncertainty, dwindling foreign reserves and an urgent need for foreign investment, a little-publicised environmental initiative quietly attracted nearly USD 4 million into the country through an innovative carbon-financing mechanism centred on mangrove restoration.

The project, implemented by TCP Lanka (PVT) Ltd. under the leadership of conservationist Thushan Kapurusinghe, has already restored approximately 3,000 hectares of mangrove ecosystems across Sri Lanka’s coastal belt, making it one of the largest nature-based carbon sequestration initiatives undertaken in the country.

Kapurusinghe, chairman of TCP Lanka (PVT) Ltd, said the investment originated from VNV, a Singapore-based project development company specialising in carbon-financing ventures linked to ecosystem restoration.

According to him, VNV sought a credible local partner capable not only of planting mangroves on a large scale but also of maintaining them over decades to ensure the generation of verifiable carbon credits.

“This is not a conventional tree-planting programme where saplings are planted and forgotten. Carbon-financing projects require long-term commitments because the trees must survive, grow and continue absorbing carbon dioxide from the atmosphere if carbon credits are to be generated and traded internationally, he explained.

The project commenced in 2021, during a period when Sri Lanka was facing severe economic challenges compounded by the lingering effects of the COVID-19 pandemic.

In 2021, TCP Lanka (PVT) Ltd. signed an MoU with the State Ministry of Coast Conservation and Low-Lying Lands Development (CCLD). The Secretary of the Coast Conservation Ministry officially requested the Director General of the Coast Conservation Department to appoint a liaison officer to coordinate this project with TCP.

Prematilake (the appointed CCD officer) organized several meetings in the districts of Kalpitiya, Mannar, Jaffna, Trincomalee, Batticaloa, and Ampara to create awareness about this project and seek their assistance. These meetings were attended by officers from government agencies such as the Forest Department, Coast Conservation Department, Central Environmental Authority (CEA), Department of Wildlife Conservation, Department of Fisheries, and others. Furthermore, the Secretary of the State Ministry of Coast Conservation organized several meetings in 2021 and 2022 with officials from the relevant ministries and departments.

It represented a rare example of climate finance flowing directly into large-scale ecosystem restoration while simultaneously creating employment opportunities and strengthening environmental resilience.

Initially conceived as a 500-hectare initiative, the project rapidly expanded following consultations with government agencies. Officials encouraged the expansion of the programme after recognising its potential to attract foreign investment while restoring degraded coastal habitats.

Following discussions between TCP and the VNV, the project was progressively enlarged first to 1,000 hectares and eventually to 3,000 hectares, significantly increasing the scale of investment.

The restored areas span several districts, including Puttalam, Kilinochchi, Mullaitivu, Trincomalee, Batticaloa and Ampara, covering some of Sri Lanka’s most ecologically significant coastal landscapes.

What makes the initiative particularly noteworthy is its registration under VERRA, one of the world’s leading carbon standards organisations. VERRA certification is regarded as a critical prerequisite for projects seeking access to international carbon markets, as it provides globally recognised methodologies for measuring, monitoring and verifying carbon sequestration.

Kapurusinghe noted that carbon financing differs fundamentally from traditional donor-funded environmental projects. Investors provide capital upfront for restoration activities with the expectation that future carbon credits generated by the restored ecosystems will eventually offset their investment and generate returns.

“The concept is straightforward. Investors provide the funds needed to restore degraded ecosystems. As the mangroves grow, they remove carbon dioxide from the atmosphere and store it. That stored carbon can then be converted into certified carbon credits that are sold in international markets,” he said.

Mangroves are among the most efficient natural carbon sinks on Earth, capable of storing several times more carbon per hectare than many terrestrial forests. Beyond carbon sequestration, they provide critical ecosystem services including shoreline protection, fisheries enhancement, biodiversity conservation and climate adaptation benefits for vulnerable coastal communities.

The project’s significance extends beyond environmental restoration. It also demonstrates how natural ecosystems can become economic assets within the emerging global carbon economy.

By Ifham Nizam

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Business

SLEIS 2026 to examine how Sri Lanka can strengthen its place in Asia’s growth networks

Published

8 hours ago

2026/09/16

Sahan Weerasooriya

Ambassador Akio ISOMATA / Chathuranga Abeysinghe / P.D. Singh

As Asia continues to account for a growing share of global economic activity, Sri Lanka faces an important opportunity to strengthen its links with regional trade networks, supply chains and economic corridors. How the country can make better use of these connections to attract investment, expand trade and strengthen its position in regional value chains will be among the key questions at the Sri Lanka Economic & Investment Summit 2026, organised by The Ceylon Chamber of Commerce on 12-13 October 2026.

Titled “Linking Sri Lanka to Asia’s Growth Networks: Trade, Corridors, and Value Chains,” the session will examine the opportunities for Sri Lanka to deepen its integration with the wider Asian economy and build stronger connections with regional and global markets.

The session keynote will be delivered by P.D Singh – Chief Executive Officer, India and South Asia, Standard Chartered Bank. He will be joined for a panel discussion by Chathuranga Abeysinghe – Deputy Minister of Industry and Entrepreneurship Development, Akio ISOMATA – Ambassador of Japan to Sri Lanka, MASAAKI Kawabata – Chairman – Toyota Lanka (Private) Limited, and Ravi Jayawardena – Group Chief Executive Officer-Maliban Biscuits (Private) Limited. The session will be moderated by Ms. Subhashini Abeysinghe – Research Director- Verité Research.

For Sri Lanka, stronger regional integration can open opportunities beyond traditional export markets. Greater participation in regional supply chains, improved trade connectivity and closer links to economic corridors can support investment in areas such as logistics, manufacturing, export services and other sectors connected to international production networks.

The discussion will consider what Sri Lanka needs to do to strengthen its position within these networks, including improving trade connectivity, attracting investment and creating a business environment that enables companies to participate more effectively in regional and global value chains.

It will also look at the experience of businesses and international institutions operating across the region, providing perspectives on how companies assess markets, build supply chains and identify locations for investment. With supply chains and investment flows increasingly shaped by regional connectivity, the session will also consider the partnerships and strategies needed to position Sri Lanka as a more competitive participant in Asia’s growth networks, while creating opportunities for trade, investment, innovation and economic growth.

The session will form part of the second day of SLEIS 2026, held under the theme “Positioning Sri Lanka in a Changing Global Economy: Resilience, Reform, and the Future of Economic Policy.”

The Sri Lanka Economic & Investment Summit 2026 is supported by its valued sponsors and partners. Platinum Sponsor – Standard Chartered Bank Sri Lanka, Gold Sponsor – VISA Worldwide (Pvt) Ltd., Bronze Sponsor – South Asia Gateway Terminals (Pvt) Ltd., Strategic Development Partner – Asian Development Bank, Telecommunication Partner – Dialog Telecommunication, Television Partner – Dialog Television, Session Sponsors – David Pieris Motor Company (Pvt) Ltd., Hemas Holdings PLC, Sunshine Holdings PLC, International Construction Consortium (Pvt) Ltd., Official Logistics Partner – Hayleys Advantis Limited, Official Airline – SriLankan Airlines Ltd., Official Hospitality Partner – Shangri-La Colombo, Airline Partner – China Eastern Air Holding Co. Ltd.

Registrations are now open at https://sleis.chamber.lk/. For more information, contact Alikie on 011 558 8805 (alikie@chamber.lk) or Shanuka on 0701082541 (events.division@chamber.lk).

Business

AAC launches seat belt safety awareness initiative with RDA Colombo

Published

8 hours ago

2026/09/16

Sahan Weerasooriya

The Automobile Association of Ceylon (AAC), in collaboration with the Road Development Authority (RDA) and Police – Traffic Division, will conduct a special Road Safety Awareness Programme to promote the importance of wearing seat belts in vehicles specially on the express highways in order to reduce road fatalities and serious injuries.

The official handing-over ceremony took place at the Chairman’s Office of the Road Development Authority on 14th September 2026, where specially designed Seat Belt Safety Hanging Tags & Stickers prepared by the Automobile Association of Ceylon were handed over to the RDA for distribution to motorists at entry points to the expressways.

The initiative is being conducted in connection with the seat belt law coming into effect on 19th September 2026 and is intended to create greater public awareness of the importance of wearing seat belts in both the front and rear seats of vehicles.

Representing the Automobile Association of Ceylon at the ceremony Dhammika Attygalle, President; Prasanna De Zoysa, Sectional Chairman – Road Safety; and Devapriya Hettiarachchi, Secretary, Senior Superintendent of Police -Traffic Sisira Peththrathanthri, participated in the programme.

The Automobile Association of Ceylon has consistently maintained that road safety is one of its foremost priorities. Through awareness campaigns, educational programmes and collaboration with government authorities and other stakeholders, the Association continues to encourage responsible driving and safer behaviour among all road users.

AAC believes that the proper use of seat belts, including by rear-seat passengers, is a simple but vital safety measure that can help reduce serious injuries and save lives in the event of a road crash.

The programme further strengthens the cooperation between the Automobile Association of Ceylon, the Road Development Authority and the Police in their shared commitment towards safer roads and saving lives in Sri Lanka.

Business

Sanath Jayasuriya as Brand Ambassador

Published

8 hours ago

2026/09/16

Sahan Weerasooriya

Mr. Dasun Wickramarathna, Chairman Global Housing & Real Estate (Pvt) Ltd with Sanath Jayasuriya, World Renown Personality & Brand Ambassador

Global Housing & Real Estate (Pvt) Ltd (GHR) has announced a landmark partnership with Sri Lankan cricket legend Sanath Jayasuriya, as its Brand Ambassador as GHR enters a new chapter in its journey within Sri Lanka’s luxury real estate sector.

The partnership was officially unveiled at a press conference held at Cinnamon Life, Colombo, on 14 September 2026, bringing together industry leaders, investors and members of the media under the theme “Two Gamechangers, A New Beginning.”

The collaboration brings together two names associated with challenging convention in their respective fields: Sanath Jayasuriya, whose fearless approach transformed the dynamics of international cricket, and GHR, which has sought to introduce new approaches to property investment and luxury living in Sri Lanka.

Over the past two decades, GHR has built its presence in Sri Lanka’s real estate sector with a focus on quality, structural integrity and long-term investment value.

A significant milestone in the company’s journey came in 2016, when GHR introduced the hotel residency concept to the Sri Lankan market. The model brought together luxury hospitality and real estate investment, creating opportunities for property ownership with the potential to generate investment returns while contributing to the growth of the country’s high-end tourism offering. GHR has since continued to expand its portfolio across key destinations in Sri Lanka.

Speaking at the announcement, Dasun Wickramarathna, Chairman of Global Housing & Real Estate (Pvt) Ltd, said, “For over twenty years, Global Housing & Real Estate has strived to push the boundaries of what property development can achieve in Sri Lanka. As pioneers who introduced the hotel residency concept back in 2016, our mission has always been clear: to provide high-yield investment opportunities for our clients while taking Sri Lanka’s condominium industry into a new frontier.”

Commenting on the decision to partner with Sanath Jayasuriya, he added, “When looking for a voice to represent GHR’s ethos, Sanath Jayasuriya was the natural choice. Just as Sanath disrupted traditional international cricket and redefined how the world viewed the opening overs, GHR challenged traditional approaches to real estate and established a new benchmark in luxury living. This partnership represents a true convergence; Two Gamechangers, A New Beginning.”