SEC and CSE collaborates with Asian Development Bank, host issuer forum
The Securities and Exchange Commission of Sri Lanka (SEC) and The Colombo Stock Exchange (CSE), in collaboration with the Asian Development Bank (ADB) hosted an issuer forum titled ‘Towards a Greener Horizon: Unlocking Opportunities through Sustainability Bonds’ recently in Colombo.
The forum was aimed at enhancing awareness and building capacity among stakeholders including representatives from Government Authorities, State-Owned-Enterprises, potential issuers, investment banks/corporate finance advisors, verification/assurance providers, rating and other agencies to create the foundation for a sustainable bond ecosystem in Sri Lanka.
SEC Chairman Faizal Salieh said; “The challenge is how quickly Sri Lanka can socialize these bonds and attract ESG-conscious foreign investors, while being mindful of Sri Lanka’s default sovereign rating hurdle.”
Faizal stated; “By expanding the availability of green finance instruments and fostering collaboration between investors, issuers, and regulators, financial markets will be able to accelerate the transition to a more sustainable and resilient financial system.”
SEC Director General Chinthaka Mendis stated; “This mechanism would reduce the burden on government budgets while leading to a more inclusive participation from all spectrums of the country.”
Speaking on behalf of ADB, its Country Director, Takafumi Kadono stated; “Promoting sustainable capital market development is one of the key components of our work to promote sustainable recovery, build resilience, and enhance inclusive growth in Sri Lanka. We are honoured to be able to share ADB’s experience in this area, highlight successful case studies, and discuss resources available to support sustainable bond issuances in Sri Lanka.”
CSE Chief Executive Officer Rajeeva Bandaranaike said; “Today, we convene at a critical juncture in Sri Lanka’s capital market evolution. This event aims to catalyse action and create pathways for sustainable finance through Green, Social and Sustainable Bonds.”
He further said, “Global supply chains are pivoting towards environmental sustainability, with net-zero initiatives becoming industry standards. As a country which needs to focus on exports, embracing these environmental policies is not just a moral imperative but a commercial necessity to maintain our competitive edge.”
This forum was enriched by several presentations aimed at providing the participants with a comprehensive overview of the depth ofopportunities available in sustainable finance, while placing a spotlight on the development and issuance of sustainability bonds.
The forum also featured a panel discussion including Chinthaka Mendis, Director General SEC, Kosintr Puongsophol Senior Financial Sector Specialist ADB; Karthik Iyer External Consultant at ADB, Renuke Wijayawardhane Chief Regulatory Officer CSE, as well as Nalin Karunathilake Vice President Sustainability and Consulting DFCC Bank with Uresha Walpitagama Financial Sector Specialist ADB (Chairperson) serving as the moderator.
Following the panel discussion and a Q&A session, attendees reported finding the event valuable for its insightful perspectives.
The post SEC and CSE collaborates with Asian Development Bank, host issuer forum appeared first on DailyNews.