UNESCAP 19 th Commission Session on “Catalyzing Climate Finance and Investment”

Speaking during the Special Session on “Catalyzing Climate Finance and Investment” under Agenda Item 2(c) of the 79th Commission Session on UNESCAP, the Minister of Environment Sri Lanka, Hon. Naseer Ahamed stated that Sri Lanka is looking at a mixture of strategies to finance the country’s climate goals and key initiatives are being taken towards increasing climate financing opportunities. These include the development of the Sustainable Finance Roadmap, the Green Taxonomy, the Green Bond Framework, and evaluating the potential of Debt for Nature Swaps. The Sovereign Green Bond Framework that is being currently finalized by the Government can assist in the debt restructuring process as well as in future bond issuance once the debt sustainability levels are stabilized.

The Minister further highlighted that the Green Finance Task Force established by the President is facilitating the process of sustainable financing in Sri Lanka. The Minister also highlighted that the proposed Climate Justice Forum to be held in Sri Lanka would be an opportunity to work collectively with other climate-vulnerable developing countries in securing faster and more direct financing for green projects.

The 79th Session of United Nations ESCAP convenes under the theme “Accelerating Climate Action in Asia and the Pacific for Sustainable Development” from 15 to 19 May. Sri Lanka’s delegation to the Sessions includes Minister of Environment, Hon Naseer Ahmed, Sri Lanka’s Ambassador to Thailand and Permanent Representative to ESCAP H.E. Mrs. Chaminda Colonne, Advisor to Hon. Minister of Environment, Mr. Samantha B. Abeywickrame, and Senior Adviser to the President on Climate Change, Mr. Ruwan Wijewardene, Director General, Sustainable Development Council of Sri Lanka, Ms. Chamindry Saparamadu, Director (Environment Planning and Economics), Ministry of Environment, Ms. K.N.K. Vidyalankara, (joining virtually from Colombo).