Sampath Bank successfully manages the challenging economic environment – ​​The Island

The Central Financial institution of Sri Lanka launched the Sri Lanka Inexperienced Finance Taxonomy on the Central Financial institution’s John Exter Worldwide Convention Corridor on Could 06, 2022. The Sri Lanka Inexperienced Finance Taxonomy is a classification system that defines and categorizes environmentally sustainable financial actions. , and is a key motion merchandise outlined within the Roadmap for Sustainable Financing of Sri Lanka offered by the Central Financial institution in 2019. The taxonomy is aligned with the native context whereas making ready in accordance with worldwide greatest practices, thus enabling monetary market members to acquire low-cost financing for inexperienced actions by way of each home and overseas markets.

The Sri Lanka Inexperienced Finance Taxonomy might be utilized to all home and overseas market members providing monetary merchandise (comparable to financial institution loans, debt devices, portfolio administration and mutual funds), massive firms, in addition to nationwide and native authorities our bodies. It can be used as a reference by industrial planning authorities and serves as a foundation for native governments to help inexperienced industries masking a spread of financial actions comparable to Forestry and Forestry, Agriculture, Manufacturing, Electrical energy technology, Transmission and distribution, Fuel. , steam and air-con provide, water provide, sewage and waste administration.

Development, Transport and storage, Monetary companies and Tourism and leisure. The Sri Lanka Inexperienced Finance Taxonomy was developed with technical and monetary help from the Worldwide Finance Company (IFC) and the method was facilitated by way of the Sustainable Banking and Finance Community (SBFN) and the IFC Inexperienced Bond Technical Help Program (GB-TAP). ). Moratuwa College’s Dr. Itsitha Sugathapala and College of Kelaniya Dr. A panel of worldwide technical specialists contributed to the design of the Taxonomy, with the assistance of native specialists comparable to Madurika Nanayakkara and Central Financial institution officers. The draft of the taxonomy included an intensive session course of with a variety of stakeholders, together with varied authorities ministries, monetary establishments, monetary trade associations, different monetary trade regulators {and professional} service suppliers.

IFC’s Nation Supervisor for Sri Lanka and Maldives Ms. Lisa Kaestner and IFC officers, secretaries of ministries and senior officers of presidency companies, worldwide and native specialists, representatives attended. worldwide organizations and associate organizations, representatives of monetary establishments and Central Financial institution officers. Making the opening speech of the launch, Sri Lanka Central Financial institution President Dr. P Nandalal Weerasinghe emphasised the significance of selling and creating a holistic technique to combine sustainability into the nation’s monetary system, particularly within the context of present financial situations. the nation’s challenges and within the technique of recovering from the COVID-19 pandemic. The Governor additionally highlighted the truth that the Sri Lanka Inexperienced Finance Taxonomy might be a vital instrument to information monetary establishments, traders, corporations and issuers of inexperienced bonds of their transition to a low-carbon, climate-resilient and resource-efficient economic system.
The keynote was adopted by a combined session to offer an outline of the Sri Lankan Inexperienced Finance Taxonomy and a digital panel dialogue on ‘Accelerating Inexperienced Finance in Sri Lanka with the Inexperienced Finance Taxonomy’. Within the taxonomy session, IFC’s Wei Yuan, Dr. Itsitha Sugathapala and worldwide specialists Bolu Wang and Bridget Boulle contributed to the taxonomy improvement. The digital panel dialogue was moderated by Rong Zhang, IFC’s SBFN World Coordinator. Dr. Ma Jun, Chairman of the China Inexperienced Finance Committee and Co-Chair of the G20 Sustainable Finance Working Group, Pushkala Lakshmi Ratan, IFC Senior Trade Skilled, Sean Kidney Local weather Bond Initiative and Chaoni Huang, Chairman of Sustainable Capital Markets APAC, BNP Paribas contributed to the panel dialogue.

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