CSR

The Ceylon Electricity Board has yet to issue an official explanation for the outage. Investigations are ongoing, and further updates are expected as restoration efforts continue.

Sources indicate that extensive consultations have been conducted at various levels, involving chief secretaries, chief ministers, mining associations, state-owned enterprises, and both large- and small-scale mining companies.

Entrepreneurs outside Board of Investment zones often face lengthy approval processes, with some projects requiring special gazettes and parliamentary approval, making it nearly impossible for independent investors to navigate the system without government intervention.

The sogo shoshas have played a crucial role in Japan’s industrial and economic development. However, the environmental advocacy group, Market Forces, says that these corporations continued investment in liquefied natural gas (LNG) terminals and gas power plants contradicts global decarbonisation efforts.

Sri Lanka's earlier administration had agreed to purchase power from Adani’s 484-megawatt wind power project at a rate of 8.26 US cents per unit under a 20-year power purchase agreement. This agreement, announced in May 2023, triggered widespread criticism due to the high price and lack of competitive tendering.

The special event was organized by the "Group of Friends of Energy," an informal coalition of member states that actively collaborate and advocate for policies and initiatives promoting sustainable energy access and development worldwide.

The government has committed to ambitious renewable energy targets – 50 per cent power generation from renewables by 2030 and net-zero emissions by 2070. Coal remains indispensable in the short term. Plans to nearly double coal production by 2030 reflect the urgency to meet rising energy demands.

For UNDP, this is not only an area that requires urgent action but also a natural point of thematic convergence that brings together two of our areas of expertise: climate action and governance.