COLOMBO, SRI LANKA, FEBRURARY 15th, 2024–The “Unlocking Green Investments: An Introduction to Climate Finance and Developing Winning Concept Notes” event was held at the Central Environmental Authority in Sri Lanka. The event was held to facilitate and support environmental professionals from across the country. The event was organized by the Institute of Environmental Professionals Sri Lanka (IEPSL), Central Environmental Authority (CEA), INSEE Cement & Geocycle with the Global Green Growth Institute (GGGI).
As Sri Lanka is vulnerable to climate change and key sectors are impacted, it is imperative for stakeholders to adopt green strategies for development. The workshop provided participants with a comprehensive understanding of climate finance mechanisms and strategies for developing effective concept notes to secure green investments. Insights into green/ climate finance products and services to mobilize private capital for sustainable investment were also included.
Supported by the GGGI programmatic mandate of the GOP1 and GOP2 to catalyze and accelerate access to climate finance as well as supporting the strengthening of policies, regulatory frameworks, and institutional capacity to achieve green growth outcomes the workshop was a vital step in supporting environmental professionals gain a technical understanding of the Sustainable Finance instruments such as thematic bonds, debt swaps, and how to leverage vertical climate funds for Sri Lanka.
Participants gained insights on mobilizing sustainable finance instruments and opportunities. Mr. Kavitha Ariyabandu, Senior Fund and Business Development Officer, Global Green Growth Institute provided that “It is my pleasure to comment on the way GGGI supported Sri Lanka’s Government in developing its sustainability financing capacity, while continuing our support and cooperation with public authorities aimed at integration of these two sectors.”
GGGI is committed to continue to collaborate and engage with Government officials, the private sector, and environmental professionals and other CSOs and NGOs on sustainable finance issues in Sri Lanka,” Dr. Sonali Senaratna Sellamuttu, GGGI’s Country Representative in Sri Lanka said. “GGGI recognizes that innovative financing is of paramount concern to accelerate green growth, achieve NetZero, and increase climate resilience in the country,” Dr. Senaratna Sellamuttu further shared.
Sri Lanka joined GGGI as Member in 2019. Sri Lanka was elected as Vice President of the Assembly and Vice Chair of the Council of GGGI in October 2022. GGGI is hosted by the Ministry of Environment at the Climate Change Secretariat and Policy Planning Division.