Shaping Sri Lanka’s industrial recovery: Industry and government leaders convene

Shaping Sri Lanka’s industrial recovery: Industry and government leaders convene

  • Second market dialogue focuses on industrial decarbonization
  • Discussions about acquiring dedication to decrease marketplace GHG emissions by 7 p.c by 2030
  • Industries make use of 30 % of nation’s workforce, contributes 2nd-maximum share of GDP, but consume important fossil gas imports

Representatives from Sri Lanka’s enterprise neighborhood, federal government, and the finance sector convened in Colombo to examine the mix of insurance policies, money mechanisms and systems, essential for propelling the country’s industrial decarbonization and financial recovery. This function is the next version of the Marketplace Dialogue organized by the European Union (EU)-funded Accelerating Industries’ Weather Reaction in Sri Lanka undertaking.

“For Sri Lanka to emerge much better, industrial decarbonization will have to be at the coronary heart of the country’s financial restoration from the energy crisis of the past two decades,” claimed Secretary to the Ministry of Industry Thilaka Jayasundara throughout a single of her interventions. “This implies that producing processes should really come to be greener by shifting away from fossil fuels, scaling-up renewable strength and adopting power-productive methods.”

Industries hire 30 percent of the nation’s workforce and deliver the 2nd-best share of GDP, but they also consume significant quantities of fossil gasoline imports. In current decades, this has led to tough charge rises for several enterprises, with petrol shortages more disrupting functions.

To open up the fifty percent-working day occasion, Head of Cooperation for the European Union Delegation to Sri Lanka and the Maldives Dr Johann Hesse reminded a lot more than 120 individuals of the challenges of weather transform and the need to have for action at all amounts: “By reducing strength waste and greenhouse gasoline emissions, industries will not only chart a additional sustainable path to economic expansion, but will also enable the country meet up with its local weather goals and electrical power security. We are delighted to assist Sri Lanka to meet the goals it has committed to achieve.” he explained.

The Sri Lankan government has pledged that 70 percent of the country’s power will come from renewable sources by 2030. As element of this, Sri Lankan industries will have to minimize their fossil fuel use, aiming for a 7 p.c reduction in industrial emissions.

As part of the method, worldwide specialists offered current study by the United Nations Industrial Development Group (UNIDO) on industrial decarbonization developments in Sri Lanka, concentrating on key producing sectors like textiles, food items and beverages, rubber generation, and cement. The exploration get rid of gentle on the current policy and regulatory landscape and recognized institutional demands and potential gaps necessary for advancing Sri Lanka’s weather aims.

For the duration of a panel dialogue, finance authorities emphasized that large costs are continue to a important barrier for firms switching to cleaner strength resources. UNIDO’s consultant at the event Nicholas Dehod, pointed out the rewards for Sri Lankan firms in relocating absent from high-priced and polluting imported fossil fuels. On the other hand, he noted that, “many organizations nonetheless obtain the fees of essential technologies and know-how much too superior, exacerbated by a absence of accessible financial loans and economical incentives for decarbonization investments.” Dehod referenced a 2023 evaluation discovering funding selections for industrial decarbonization undertaken by UNIDO.

The market dialogue provided a roundtable dialogue on the role of electricity efficiency in industrial decarbonization, highlighting successes from applying internationally regarded energy management systems schooling throughout industries. Inside a calendar year, steps adopted by 45 electrical power administration trainees minimized vitality use by 6.9 GWh and GHG emissions by 5,400 metric tonnes. This reduction is equivalent to removing more than 1,000 petrol automobiles from the street for a yr.

The Accelerating Industries’ Local climate Response in Sri Lanka challenge is a five-year initiative made to aid the country’s industrial sector changeover to a reduced-carbon potential. The undertaking was launched in mid-2022. It is led by the Ministry of Surroundings, Ministry of Business, and Ministry of Electric power and Vitality, applied by the United Nations Industrial Enhancement Group, and funded by the European Union under the World-wide Weather Change Alliance+.

Secretary to the Ministry of Industry Thilaka Jayasundara

Some of the delegates present at the Industry Dialogue

UNIDO Challenge Supervisor Nicholas Dehod

Presentation of the research documents published by UNIDO to Secretary to the Ministry of Business Thilaka Jayasundara by Head of Cooperation of the EU Dr Johann Hesse

EU Head of Cooperation Dr Johann Hesse

For far more information and facts about the undertaking activities, you should stop by:

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