Sri Lanka Pledges to Reach Sustainable Development Goals and Net Zero Emissions by 2040

Speaking at the Environmental, Social and Governance (ESG) Summit 2024 at the Cinnamon Grand Hotel in Colombo on the 6th, President Ranil Wickremesinghe explained Sri Lanka’s commitment to achieving sustainable development goals and reaching net zero carbon emissions by 2040. The president highlighted various strategies to achieve these goals, including utilizing renewable energy, modernizing agriculture, and tackling water shortages.

President Wickremesinghe stressed the importance of attracting global financial resources through commercial investments to support Sri Lanka’s initiatives. He outlined plans to convert the plantation industry into agribusinesses, promote sustainable tourism, and enhance product development and digitization.

The summit, themed “Sustainable Pathways for a Brighter Future,” featured presentations from about 15 experts in environment, society, and governance, sharing vital insights and innovative solutions for sustainability.

During the event, the President presented the ESG Excellence Awards to micro, small, and medium-scale entrepreneurs for their contributions to environmental, social, and governance projects.

Speaking at the event, the President remarked:

“I appreciate your focus on ESG, which has been a theme of your conferences for the past three years. It’s crucial to understand how the world is evolving, particularly with regard to the private sector’s dedication to economic, social, and governance matters. We must continue to push forward. I believe Sri Lanka is leading the way among South Asian countries in this regard. The Maldives is similar to us but smaller. The other countries in the region are not as prepared. So we must take the lead.”

The President also addressed the challenges posed by the current global geopolitical landscape and the economic uncertainties in major economies like China and the United States. He underscored the importance of pursuing Sustainable Development Goals despite these challenges.

President Wickremesinghe highlighted Sri Lanka’s efforts to secure funding for sustainability initiatives and expressed concerns about global financial priorities in light of recent geopolitical events.

The President also touched upon regional issues, such as the situation in Bangladesh, and emphasized the need for stability and cooperation among nations.

In conclusion, he outlined Sri Lanka’s plans to establish an International Climate Change University and the Tropical Regions Initiative to combat climate change and promote sustainable practices.

Key attendees at the summit included Professor HD Karunaratne, Vice-Chancellor of the University of Colombo; Mark Surgenor, CEO of HSBC for Sri Lanka and the Maldives; university faculty members; businessmen; private sector officials; members of the Colombo University MBA Alumni Association; scholars; and other distinguished guests.