SL a $ 16 b opportunity for private sector to invest in sustainable development: Standard Chartered

• Opportunity2030 study reveals almost $ 10 trillion private-sector investment opportunity in contributing to UN Sustainable Development Goals (SDGs) in emerging markets
• At $ 7.3 b, greatest private-sector investment opportunity in Sri Lanka is investment in achieving and maintaining universal access to electricity (SDG 7)

The Standard Chartered SDG Investment Map reveals an almost $ 10 trillion ($ 9.668 trillion) opportunity for private-sector investors across all emerging markets, with Sri Lanka representing $ 16.2 billion of that total.

The study identifies opportunities for the private sector to contribute to three infrastructure-focused goals between now and 2030: SDG 6: Clean Water and Sanitation, SDG 7: Affordable and Clean Energy and SDG 9: Industry, Innovation and Infrastructure across emerging markets. 

The greatest opportunity in Sri Lanka is found in achieving and maintaining universal access to electricity (a key SDG 7 indicator), representing a $ 7.3 billion private-sector investment opportunity. This takes into account the proportion of the Sri Lankan population currently without access to electricity (2%), projected population growth, and the growing demand for power as the economy develops.

For SDG 9, which encourages improvement in industry, innovation and infrastructure, Opportunity2030 highlights private sector investment opportunities in transport and improving digital access. Securing full digital adoption in Sri Lanka – a combination of mobile phone subscription rates and internet connectivity – would require private sector investment of around $ 4.1 billion. To significantly improve Sri Lanka’s transport infrastructure by 2030 provides a $ 4.6 billion investment opportunity for the private sector. 

Standard Chartered Sri Lanka CEO Bingumal Thewarathanthri said: “Sri Lanka’s commitment to the Sustainable Development Goals (SDGs) make it an attractive prospect for the private sector to invest with impact. The Government is looking to increase public-private collaboration and its Vision 2025 program aligns with the SDGs, demonstrating the commitment to the goals. 

“Opportunity2030 reveals the opportunities private sector investors have to make a difference in achieving the SDGs. These findings show that in Sri Lanka there is a chance to have a real impact on millions of people’s lives over the next decade.”