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During the study, the chemical leasing approach was applied to the vegetable cultivation sector parallel to the conventional farming approach. The results showed that the chemical leasing approach accounted for more than 40% of agrochemicals cost savings. The pilot project was conducted in the Nuwara Eliya District with the support of the UNIDO Global Chemical Leasing program.
This pilot project won a bronze award at the Global Chemical Leasing Awards 2012
Finlays Tea Estates introduced the chemical leasing model, a new concept and a business model of efficient chemical usage, applied worldwide in many sectors that use chemicals, which is facilitated by NCPCSL and UNIDO.
This is an innovative business approach which provided the opportunity to increase benefits for both partners. Furthermore, it facilitates the optimisation of the production process and reduces the environmental impact caused by the use of agrochemicals.
This project also encourages the reduction of waste and the adoption of recycling processes where possible. The project team attended the International Conference on Sustainable Chemistry and Chemical Leasing: Paving the way for inclusive and sustainable industrial development, which coincided with the Global Chemical Leasing Award Ceremony in Vienna, Austria.
Although there are success stories around the world in other industries where chemicals are used this was the first time the concept had been applied in the tea plantation sector.
The initiatives were taken to challenge the status quo therefore UNIDO awarded a special acknowledgement certificate for the pilot project as recognition of the breakthrough approach taken to introduce the concept of chemical leasing to Finlays on the theme of ‘Chemical leasing goes Agro’ at the Global Chemical Leasing Award Ceremony held in Vienna on 12 December 2014.