Tuesday Oct 28, 2025
Tuesday Oct 28, 2025
Tuesday, 28 October 2025 00:30 - - {{hitsCtrl.values.hits}}
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| UNDP Sri Lanka Resident Representative Azusa Kubota – Pic by Lasantha Kumara |
United Nations Development Programme (UNDP) Sri Lanka Resident Representative Azusa Kubota has urged the Government to move swiftly to turn its climate ambitions into concrete action by mobilising large-scale financing and strengthening coordination across public and private institutions.
She said this at the launch of the National Climate Finance Strategy on Friday.
She said Sri Lanka’s updated Nationally Determined Contributions (NDCs), submitted last month, reflect a higher level of ambition to cut emissions, enhance climate adaptation, and address loss and damage.
The country’s financing needs for mitigation alone are estimated at over $ 10 billion for the 2021-2030 period, not accounting for the new targets, meaning the real requirement will be significantly higher.
Kubota warned that with Sri Lanka’s economy heavily dependent on natural resources such as agriculture, fisheries, and tourism, the cost of inaction would be “unimaginable.”
She said climate change cuts across every aspect of development, from health and infrastructure to livelihoods, making financial investment central to achieving the Sustainable Development Goals (SDGs).
The UNDP Representative said the new Climate Finance Strategy provides a clear framework to align domestic and international resources with national priorities while signalling to investors that Sri Lanka is ready with a plan backed by governance and financial systems.
She noted that climate finance must be integrated into wider development and environmental objectives to unlock co-benefits such as jobs, resilience, and biodiversity protection through nature-based solutions.
Kubota stressed that no single actor can drive this transformation alone.
“We need bold action across public and private sectors,” she said, calling for stronger private sector participation through regulatory reform, de-risking mechanisms, and effective safeguards. She cited the global trend of rising private climate finance, which exceeded $ 1 trillion in 2023 for the first time, outpacing public investment.
She added that institutional coordination would be critical to the success of the strategy, describing it as a “motherboard” to align efforts, reduce duplication, and attract investment.
Kubota commended the Finance Ministry and its departments for leading the process, and acknowledged the support of the UK and development partners, such as the Asian Development Bank, in advancing initiatives like the proposed Green Development Fund.
“Sri Lanka’s success will depend on a collective will to align, collaborate, and act,” Kubota said. “Every rupee and dollar invested must deliver maximum impact for the people and the planet.”
