The private sector can play a crucial role in facilitating the needed SDG investments
The private sector can play a crucial role in facilitating the needed SDG investments
22 අගෝ 2023
වෙලාව
9:00am
ස්ථානය
Taj Samudra
As economic reforms take center stage towards rebuilding a crisis-stricken Sri Lanka into a resilient sustainable economy, the opportunity of leveraging innovative means of sustainable finance through the galvanization of the private sector remains promising. The private sector can play a crucial role in facilitating the needed SDG investments.
In order to successfully manage environmental, social, and governance (ESG) risks and achieve the nation's climate goals, Sri Lanka's Roadmap for Sustainable Finance lays out an ambitious plan to develop the sustainable finance market.
Building on the positive momentum of earlier sustainable finance training sessions held in Sri Lanka, a 03 day sustainable finance training programme targeting the private sector stakeholders is co-hosted by the Central Bank of Sri Lanka, the Sustainable Development Council, the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), the Global Green Growth Institute (GGGI) in partnership with the Luxembourg Green Exchange (LGX) and LGX Academy (the world’s first and leading exchange dedicated to sustainable finance) from 22nd to 24th August in Colombo.
The training aims to support the private sector in developing a better understanding of sustainable finance instruments, best practices on compliance, and ESG risk identification and management. Creating staff capacity in both government and the private sector to understand sustainable finance as a distinct segment of the market, increase awareness of various emerging asset classes, and enhanced cooperation between the public and private sectors will be critical. Strong links between financial markets and key actors in the real economy can create an enabling environment that looks at sustainable finance as the new business-as-usual.
Delivering the Opening Remarks, the Senior Deputy Governor of the Central Bank, T. M.Y.J.P Fernando stated that sustainable finance has ceased to be a mere aspiration; it has become a necessity. As the main regulator of the financial sector, the Central Bank is committed to creating an enabling environment for the advancement of sustainable finance in Sri Lanka through laying the necessary foundations and the private sector must build upon the initiatives and drive the momentum forward, benefitting from efforts of the financial sector institutions to green the economy.
Speaking at the event, the Director General of the Sustainable Development Council, Chamindry Saparamadu highlighted that developing greener and sustainable capital markets and financial systems and channeling private capital flows towards environmental and social priorities are vital to achieve country's development goals whilst remaining within the planetary boundaries. This requires all key stakeholders ie regulators, financial sector institutions, and corporate leaders to work with a shared vision and understanding.
The training is attended by representatives from the Central Bank, the Securities and Exchange Commission, Banks, Non-bank Financial Institution, Insurance Companies and leading Business Chambers.
