President says his task to restore Sri Lanka’s economy is nearing its end
The inaugural Sri Lankan Climate Change Conference, hosted by the Sri Lanka Chamber of Commerce, commenced yesterday under the theme “Climate Action for our Nation and the Planet.”
President Ranil Wickremesinghe says that his task to restore the country’s economy is nearing its end and that they have to now focus on the next step.
“My task as president has been to restore the economy. In other words, to stabilize the economy. That task is nearing an end and we have to now focus on the next step,” he said.
“We can’t carry on with this economic model, which certainly hasn’t worked,” he said, adding that Sri Lanka has transformed itself into an export-oriented economy and a highly competitive economy.
For this purpose, Wickremesinghe stated that the government will be introducing legislation in parliament, which will ensure that all government policies focus on the transformation to a highly competitive export-oriented economy. He said the bill will most probably be gazetted next week.
He revealed that one of the items in the bill, in carrying out this transformation, is to ensure that Sri Lanka achieves net-zero emissions by 2050.
“And I can tell you we will achieve it before that. Sri Lanka can do it,” he declared.
He made these remarks while addressing the inaugural session of the ‘Sri Lanka Climate Summit’ which commenced yesterday (07) at the Shangri-La, Colombo.
He emphasized on-going efforts to enact unified legislation addressing environmental protection and climate change.
He highlighted the government’s commitment to crafting economic policies geared not only towards fostering export-oriented competitiveness but also towards transitioning to a green economy, aiming to achieve net-zero by 2050.
Acknowledging the recent prolonged spells of extreme climate conditions as indicative of future climate change impacts, the President stressed the urgency of addressing climate mitigation measures promptly.
The inaugural Sri Lankan Climate Change Conference, hosted by the Sri Lanka Chamber of Commerce, commenced yesterday under the theme “Climate Action for our Nation and the Planet.”
Scheduled to run until May 09, the summit aims to foster a comprehensive understanding of the multifaceted climate crisis, both from a global and national standpoint. It seeks to assess potential disruptions to critical sectors of the economy and deliberate on policy reforms necessary for transitioning towards a low-emission, climate-resilient economic framework.
During his address, he highlighted the nation’s proactive approach to combating climate change. He announced the establishment of a dedicated climate change centre in Sri Lanka and his instructions to the officials to model legislation based on the United Kingdom’s Climate Act, endorsed by global financial institutions.
The President emphasized the significance of Sri Lanka’s role in addressing climate change, particularly within the Indian Ocean and the tropical belt and outlined plans for the International Climate Change University to be established in the country.
