As Sri Lanka works towards developing a green-blue economy, here are some insights from those in the sustainability sphere on its immense significance to our emerald isle.
The green-blue economy – if harnessed well – would greatly support Sri Lanka’s growth. However, this would need to be transparent and digitalised with long-term policies, for real benefits to translate into economic and social growth.
Anoka Abeyratne
Climate policy expert
Co-founder
Anticlimatic
As an island nation, Sri Lanka possesses tremendous potential for the development of both the green and blue economies. With its abundant resources, the country has the potential to become a global example in sustainable practices.
The green economy focusses on the sustainable use of natural resources to boost economic growth; the blue economy entails the responsible utilisation of ocean resources. With these opportunities – including sustainable tourism – Sri Lanka can foster economic development in an environmentally conscious manner.
Nishshanka De Silva
Founder
ZeroPlastic Movement
The green economy is a macroeconomic approach based on the principles of sustainability, resource efficiency and low carbon emissions. This is significant to Sri Lanka in the context of environmental conservation, climate change mitigation and adaptation, economic opportunities and job creation, energy security, resilience and risk reduction, and international cooperation and funding.
Dr. Chethika Gunasiri
Environmental Scientist
Sri Lanka Land Development Corporation (SLLDC)
At a time when the country is reeling from the aftereffects of unsustainable economic practices that were in noncompliance with the core characters of the nation, sustainable green and blue economic strategies will provide healthy and long-term growth to Sri Lanka.
Being an island nation where natural resources are not adequate for the ever increasing population, well planned blue and green economic strategies will provide security for these depleting resources, while enhancing the nation’s GDP growth through the protection and conservation of our environment and ecosystem.
Sri Lanka has the potential to expand its blue economy as its sea comprises a much larger space than the land area. Similar to many small island nations in the world excelling in blue economy strategies, Sri Lanka too can harness its ocean resources while conserving the increasingly threatened marine ecosystem.
This island has some of the largest seagrass areas in the world along with many varieties of mangroves. These serve to increase carbon sequestration in a world where growing carbon emissions are serving as a rapid avenue towards climate change.
Muditha Katuwawala
Coordinator
The Pearl Protectors
The green-blue economy revolves around promoting sustainable development by focussing on reducing carbon emissions, improving resource efficiency and fostering social inclusiveness.
This recognition of natural capital as an economic asset benefits not only the environment but also marginalised communities reliant on natural resources. It’s a vision that combines economic growth, environmental stewardship and social justice to transform our world for the better.
As an island nation, Sri Lanka has a valuable opportunity to embrace the blue economy, which complements the green economy by emphasising the sustainable utilisation and management of ocean resources.
The country’s diverse natural resources and expansive coastal waters make it a perfect candidate for embracing the green economy and achieving sustainable development.
Sri Lanka finds itself at a crucial point, aiming to achieve sustainable development and establish a responsible global presence. In this endeavour, sustainable finance and private capital have emerged as catalysts for change, presenting a distinct opportunity to tackle urgent environmental and social issues while fostering economic growth.
By incorporating sustainability principles into its financial systems and attracting private funds, Sri Lanka can explore fresh channels of investment, draw international capital, and cultivate a resilient and inclusive economy.
Such economies provide opportunities for economic growth, job creation and social development in local communities.
M. M. Hanan
Public Relations and Communications Coordinator
Biodiversity Sri Lanka
Given Sri Lanka’s historically abundant yet rapidly depleting natural resources, the adoption of a green economy could help strengthen our island’s position in the face of challenges that lie before us.
A green economy prioritises low carbon emissions, uses natural resources efficiently, is socially inclusive and prevents the loss of biodiversity. All these factors would contribute positively towards our country and its development.
Blessed with a wildlife rich protected area network, Sri Lanka’s terrestrial landscapes are capable of generating income exponentially if managed efficiently. For this to happen however, the relevant stakeholders need to unlock the true potential of the natural capital that we’re blessed with – rather than plundering it for short-term gains.
The time to adopt progressive strategies that prioritise the planet over profit is now!
Vinod Malwatte
Co-founder
The Parrotfish Collective