Govt. to make Sri Lanka first green economy in region

Wednesday, 29 March 2023 01:08 -     - {{hitsCtrl.values.hits}}


  • President tells investors attending Green Energy Summit green economic policy will be implemented in next two months

President Ranil Wickremesinghe on Monday pledged to make Sri Lanka as the region’s first green economy. 

Speaking to investors who attended the Green Energy Summit in Colombo, the President said Sri Lanka will become the first country in the region to adopt a green economy, as the Ministry of Environment, the Ministry of Power and Energy, and the Climate Change Office work together to introduce a green economic policy focused on renewable energy within the next two months.

Wickremesinghe expressed his aim to place Sri Lanka at the forefront of green economic policy, much like its success in tea exports.

President also expressed his gratitude to the investors who participated in the Clean Green Energy Summit and pledged to provide the necessary facilities to meet their investment requirements.

Sri Lanka is currently facing two major challenges – debt restructuring and transitioning to green energy. While debt restructuring is already underway, the country must also act quickly to establish a green economy. Sri Lanka has great potential to generate energy through renewable sources such as solar, wind, biogas, and sea waves. President Wickremesinghe believes that transitioning to a green economy could be the key to building a stronger economy for Sri Lanka.

The President also committed to facilitating local and foreign investors who attended the conference, and confirmed that a green economic policy will be implemented within the next two months, which would be the first of its kind in the region.

The investors who attended the conference will be given legitimacy, and the Government is committed to providing them with the necessary support. The green economic policy is not a short-term program, but a long-term initiative that requires a legal framework. The President emphasised the need for legislation to be passed promptly to adjust to the new policy.

The President expressed his appreciation for the investors and their contribution to Sri Lanka’s recovery through the green economy. He stated that he aims to make Sri Lanka the world’s first in the green economy, just as the country has achieved the world’s first in tea.

The President highlighted that Sri Lanka has the potential to become the first in Asia in green energy, thanks to its natural resources and the experienced investors present at the meeting. He also mentioned the on-going discussion of bringing an oil pipeline from India to Trincomalee, and emphasised the importance of cooperation with South India in moving towards renewable energy.

According to the President, Trincomalee has been identified as a potential port for green hydrogen due to its proximity to the North, which has abundant sources of green hydrogen, renewable energy, and strong wind power in Sri Lanka. He added that this would create development opportunities for the country and investors, leading to economic expansion and good returns on investment. The investors who attended the Sri Lanka Green Energy Summit expressed their gratitude to President Ranil Wickremesinghe for the hospitality and stated their intention to return to Sri Lanka in the future to invest in the green economy sector.

Foreign Affairs Minister Ali Sabry, Power and Energy Minister Kanchana Wijesekera, Environment Minister Naseer Ahmed, Investment Promotion State Minister Dilum Amunugama, Senior Advisor to the President on Climate Change Ruwan Wijewardene, International Adviser to the President on Climate Change Erik Solheim, Environment Ministry Secretary Dr. Anil Jasinghe as well as local and foreign investors and other officials participated in this discussion at the Presidential Secretariat.