Saturday Dec 13, 2025
Saturday Dec 13, 2025
Saturday, 13 December 2025 00:42 - - {{hitsCtrl.values.hits}}
The Cabinet of Ministers on Wednesday approved the implementation of a new environmental conservation initiative funded through a $ 2.66 million grant from the Global Environment Facility (GEF), aimed at formally assessing and integrating the natural capital value of Sri Lanka’s coastal and marine ecosystems into national development planning.
The project, titled “Integration of the Natural Capital Value of the Coastal and Marine Ecosystems in Sri Lanka with the Sustainable Development Plans,” will be executed over four years in selected coastal regions of Galle, Mannar, Puttalam and Trincomalee. The initiative was jointly developed by the Environment Ministry and the International Union for Conservation of Nature (IUCN), with support from other relevant agencies and received approval under the GEF’s seventh funding cycle.
The Cabinet of Ministers also authorised the signing of a formal agreement between the Environment Ministry and the IUCN to proceed with project implementation.
Cabinet Spokesman and Minister Dr. Nalinda Jayatissa noted that although many environmentally conscious nations have already quantified the value of their natural capital, Sri Lanka has yet to undertake such assessments in a comprehensive or quantitative manner.
“The new project is expected to fill this gap, supporting more informed planning and enabling coastal ecosystems such as mangroves, coral reefs, lagoons and sea grass beds, to be factored into economic and development decision-making,” he said at the weekly post-Cabinet meeting media briefing on Thursday.
He said the project will enhance long-term conservation efforts while strengthening resilience in coastal districts that are increasingly vulnerable to climate-related pressures.
