Green business

This is the first time the federal government will directly tap capital markets through a sustainable finance mechanism.

Sri Lanka’s involvement in the regional initiative comes amid growing environmental concern about the country's increasing plastic waste. Like many nations in Asia, Sri Lanka has seen a surge in single-use plastics and limited infrastructure to manage them.

The programme would also develop an integrated pollutant and a greenhouse gas (GHG) emissions inventory system to provide a comprehensive approach to tracking and managing emissions data.

The minister informed that a 50 per cent rebate in the revenue share for coal used in gasification has been introduced in commercial coal block auctions, provided that at least 10 per cent of the total coal production is used for gasification purposes.

The report's optimism stems from the observation that 2023 marked the first year where the continued expansion of building construction was decoupled from the corresponding rise in sector greenhouse gas emissions.

A 2017 study by the Bangladesh Occupational Safety, Health, and Environment Foundation found that over one-third of shipbreaking workers surveyed had developed preventable health complications due to asbestos exposure.

Since 2014, India has improved electricity access, strengthened energy security, and set a foundation for clean energy transition. However, meeting the 2030 goal requires adding 56 GW of non-fossil capacity annually.

Whether the two parties can bridge the gap and reach a mutually acceptable agreement remains to be seen. The Sri Lankan government's insistence on price revision and Adani’s re-affirmation of the initial terms, clearly sets the stage for a tense negotiation period.